Fleet Intel Releases Q4 2024 Driver Pay Trend Tracker
Fleet Intel, a division of Conversion Interactive Agency, announces the release of the data community's Q4 2024 Driver Pay Trend Tracker Report highlighting key trends in truck driver and diesel technician pay across the transportation industry. The report provides valuable insights from Q4 2024, including Average Weekly Pay by Driver Type, Average Weekly Company Driver Pay by Equipment Type, and the rise of Unique Job Postings.
The data for Q4 2024 reveals a notable shift compared to the trends observed in Q3. During Q4, advertised compensation rose across all driver categories, signaling a potential rebound in the market's outlook. Company drivers saw steady growth in pay, lease purchase drivers continued to show competitive earnings, and owner-operator pay reached levels indicative of strong market demand. Team drivers also saw an increase, continuing the positive trend across all driver types. “We observed a rise in advertised compensation across all sectors during Q4, reflecting a growing confidence in the market's potential for economic recovery,” said Steve Sichterman, Chief Product Officer at Conversion Interactive Agency.
Company driver pay by equipment type also showed interesting trends. Van drivers experienced the most significant increase in pay, suggesting heightened demand for this segment. Meanwhile, pay for tanker, refrigerated, and flatbed drivers remained stable, consistent with Q3. These findings underscore the ongoing strength of specialized freight markets, while pointing to potential growth opportunities for van equipment types.
Another highlight of the Q4 2024 report was a double-digit percentage increase in unique driver job postings compared to the previous quarter. This surge aligns with the rise in advertised pay rates, reflecting a strengthening labor market for drivers.
"The Q4 data reveals a more optimistic narrative compared to prior quarters," Sichterman noted. "The combination of rising advertised pay and increased job postings suggests that carriers are responding to improving economic conditions and freight demand. These insights are invaluable for transportation companies as they strategize for driver recruitment and retention in the months ahead."
Comparing driver pay across carriers in targeted freight markets remains essential for gaining a competitive edge in driver recruitment. Fleet Intel is dedicated to providing real-time data to help recruiting, sales, and operations teams better understand the dynamics of truck driver pay in their operational markets.
CLICK HERE to access Fleet Intel's Q4 2024 Driver Pay Trend Tracker.
