Q3 Driver Pay Trend Tracker Report Released
Fleet Intel, a division of Conversion Interactive Agency, announces the release of the data community's Q3 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 Q3 2024, including Average Weekly Pay by Driver Type, Average Weekly Company Driver Pay by Equipment Type, and Average Weekly Pay by Technician Type.
The data reveals a continued decline in starting pay for company drivers, with median weekly pay dropping by more than $200 over the past year. However, the report notes a significant outlier: weekly gross income for owner-operators has rebounded to the levels observed last year.
"While Q1 showed slight increases, indicating strengthening demand and an optimistic trend, the data from Q2 and Q3 reflects a continued downward trajectory in driver pay and company driver equipment types," said Steve Sichterman, Chief Product Officer at Conversion Interactive Agency. "This trend is largely driven by broader market conditions, such as oversupply and reduced freight rates, which continue to impact earning potential for drivers across the industry."
In contrast, pay for technicians has remained relatively stable. During Q3, the national average weekly pay stood at $1,382 for CNG technicians and $1,400 for diesel technicians, showing little change year-over-year. Technician demand has generally remained flat, except in a few specific locations. Average pay by market, however, fluctuates significantly each quarter, influenced by factors such as local demand, economic conditions, and industry trends.
"The Q3 data reveals a mixed narrative in pay trends," Sichterman noted. "While company driver pay continues to decline due to economic pressures, the steady wages for technicians and the recovery of owner-operator incomes demonstrate resilience in specific segments. Understanding these trends is critical for transportation companies to navigate challenges and seize emerging opportunities."
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 Q3 2024 Driver Pay Trend Tracker.
