ARLINGTON, Va. – It should come as no surprise that company drivers and owner-operators/independent contractors ranked income as highly important in a new study from the American Trucking Research Institute (ATRI). In fact, it came second only to job security.
And in terms of income satisfaction, 68.9% of company drivers and 80.1% of owner-operators/independent contractors said they were very satisfied/satisfied with their income.
ATRI said its research includes data from more than 2,000 professional truck drivers, of whom more than two-thirds are owner-operators/independent contractors.
The analysis also examined the various compensation models used with company drivers and owner-operators/independent contractors and driver satisfaction levels with each.
More than 50% of owner-operators/independent contractors in ATRI’s dataset reported net incomes of over $75,000 in the previous year, while nearly 70 percent of company drivers indicated their annual wages fell in the $50,000 to $100,000 range.
A large percentage of owner-operators/independent contractors expected they would experience significant decreases in their job satisfaction (73.0%) and annual income (68.3%) if they were reclassified as a company driver.
“ATRI’s analysis validates what we know to be true with our professional truck drivers – those who choose to be owner/operators are often motivated by the desire to be in charge of their schedule and work environment,” said Eric Fuller, president & CEO of U.S. Xpress Enterprises, Inc.
“Understanding what motivates our company drivers and owner/operators allows us to better tailor offerings as we continue to focus on recruitment and retention.”
In addition to examining the differences between company drivers and owner-operators/independent contractors, ATRI’s analysis also offers insight into the different motivating factors for female truck drivers versus their male counterparts.
To access the full report, click here.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.