BRENTWOOD, Tenn. — Fleet Intel, a division of Conversion Interactive Agency, has released its Q3 2023 Benchmarking Brief Report highlighting trends in truck driver and diesel technician pay for the transportation industry.
The brief utilizes data from Q3 2023 to mark average weekly pay by driver type, states with highest driver pay and average pay by trailer type for multiple driver types, according to a news release.
The brief also reports on crucial industry trends, revealing quarterly driver pay trends.
In Q3, a leveling of pay rates was observed, accompanied by a decline in lease purchase driver pay wages. These trends tell of the shifting dynamics within the freight market, with evolving demand patterns impacting compensation structures for drivers and influencing decisions regarding lease purchase opportunities among carriers, according to the news release.
“As we move into 2024, it will be intriguing to monitor how driver wages evolve,” said Steve Sichterman, president of Fleet Intel. “The current economic landscape is distinct from previous cycles, and when combined with the dynamics of an election year, it could introduce notable market fluctuations.”
The states with the highest pay rates remained consistent in Q3 — Utah and Kansas have experienced more substantial driver pay increases than other states, the brief notes.
The overall commercial driver’s license (CDL) population in each state plays a role in driving demand. For instance, 1.2% of the population in Utah holds CDLs, while Kansas has 1.69%.
“Benchmarking your driver pay data against other carriers in the markets where you’re going after freight can be a critical piece of securing new business for carriers,” Sichterman said. “Our goal is to provide real-time data that helps support recruiting, sales and operations to understand driver pay in the markets where you operate.”
CLICK HERE to access Fleet Intel’s Q3 2023 Benchmarking Brief.
Born and raised in Little Rock, AR, Erica N. Guy decided to stay in her hometown to begin her professional career in journalism. Since obtaining her bachelor’s degree from UAPB, Erica has professionally written for several publications about several topics ranging from lifestyle, tech, culture, and entertainment, just to name a few. Continuing her love for her hometown, she joined our team in June 2023, where she is currently a staff writer. Her career goals include continuing storytelling through her writing by being the best professional writer she can be. In her spare time, Erica enjoys trying new foods, cozying up with a good book, spending time with family and friends, and establishing herself as a future businesswoman.