Trucking’s Premiere Data Community, Fleet Intel Releases Q3 2023 Benchmarking Brief
By: Conversion Interactive Agency
Posted: Nov 17, 2023
Fleet Intel, a division of Conversion Interactive Agency, announces the release of the data community's Q3 2023 Benchmarking Brief Report highlighting trends in truck driver and diesel technician pay for the transportation industry. The brief highlights data from Q3 2023, such as Average Weekly Pay by Driver Type, States with Highest Driver Pay, and Average Pay by Trailer Type for multiple driver types. The report sheds light on crucial industry trends, revealing driver pay trends throughout the quarter.
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.
“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 compared to other states. The overall CDL population in each state plays a role in driving demand. For instance, in Utah, 1.2% of the population 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," added Sichterman. “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.