Fleet Intel Releases Q1 2024 Benchmarking Brief
Fleet Intel, a division of Conversion Interactive Agency, announces the release of the data community's Q1 2024 Benchmarking Brief Report highlighting transportation industry trends in truck driver and diesel technician pay throughout the quarter. The brief highlights data from Q1 2024, such as Average Median Pay by Driver Type, number of job postings and their impact on driver competition, and Average Hourly Pay by Technician Type.
The Q1 benchmarking brief shows overall driver pay remained relatively stable, with a slight increase in the median average pay for owner-operators and team drivers. According to Vice President of Fleet Intel, Steve Sichterman, this increase indicates a modest improvement in the freight market.
“This increase, while subtle, is significant as it indicates a gradual strengthening of demand and an optimistic trend that we anticipate will continue, bringing more opportunities and improved conditions for drivers," said Sichterman.
As freight shows promising improvement, competition for drivers is increasing. The end of Q1 showed a significant increase in company driver job postings, with a 39% month-over-month increase from March to April.
During Q1, the national average hourly pay for both CNG and diesel technicians was slightly over $34 per hour. It is important to understand that the average pay by market varies greatly each quarter. Factors such as demand for skilled technicians, economic conditions, and industry trends contribute to this fluctuation.
“Comparing driver pay information with that of other carriers in targeted freight markets is crucial for gaining a competitive edge in hiring drivers,” noted Sichterman. “We are committed to delivering real-time data to assist recruiting, sales, and operations teams to better understand the dynamics of driver pay within their operational markets.”
CLICK HERE to access Fleet Intel's Q1 2024 Benchmarking Brief.
