Anytime you go online and look up information about how much truck drivers earn, you’ll find a wide range of salaries that are suggested. That leaves many people wondering how much a CDL salary really is for drivers. One fact is that it will depend on the experience of the driver and which company they work for as well as the type of loads that they haul. Here we’ll take a look at some facts about a drivers CDL salary.
Can Drivers Really Make $100,000 A Year?
There seems to be a lot of hype about truck driving jobs claiming that drivers can make $100,000 a year. The only commercial truck drivers that make that much are the top 1%. What is much more attainable is an annual salary of between $50,000 to $75,000 a year. This is something that quite a few drivers can achieve.
It is unlikely that a brand new driver would make that much during their first year. There are some that make as much as $50,000 in their first year and the majority of them will make over $40,000 their first year. From their second year on, they should definitely be making $50,000 to $60,000 a year. With each passing year, they have a good chance of having their income go up.
Compensation For Truck Drivers Have Been Rising By 10% A Year Recently
In recent years the total compensation for truck drivers has been increasing by 8% to 12% each year. On average it is about 10% a year. That’s much better than a lot of other segments in the American economy. This is good news for those who are driving as well as those who are considering getting into the industry.
With the average income being above what others make in other industries it is a wonder that there is a considerable shortage of CDL drivers currently. There are plenty of people that would like to make $50,000 to $70,000 a year. Even so, there is a tremendous shortage of CDL drivers. The reason is that although the job pays better than average, most people consider it to be a difficult job.
The Shortage Of American CDL Drivers Is Growing
10 to 15 years ago there was a driver shortage of about 20,000 jobs that went unfulfilled. A few years ago the shortage grew to about 30,000 drivers. In recent years it is estimated that driver shortages are between 50,000 to 70,000 jobs each year. Even worse, it is projected that as many as a hundred seventy-five thousand driver positions will be unfilled in the year 2026.
This means that for those who are looking to get into the industry there are lots of opportunities. Other facts that make the job potentially a good choice is that there are lots of improvements being made in technology that makes the driving position easier. The biggest reason that there are so many driver positions that are unfilled is the time away from home and some other factors that make a driving job uncomfortable for many.
Another reason is the industry’s failure to attract more females. Most industries have done a great job of attracting females and ladies represent an estimated 47% of the current workforce in most industries. Commercial truck driving is one industry that continues to be dominated by a male workforce.
It is quite possible that truck drivers salaries could go up substantially over the next several years. It is simply a matter of whether or not someone is willing to go over the road for extended periods of time and to be away from their family during that time. For some, it is a lifestyle that is very enjoyable but for others it is an unacceptable requirement of the job. In the end, it’s a matter of choice.