Understanding Truck Driver Pay: CPM, Hourly, and Salaried Pay
For Class A CDL-holding truck drivers, understanding truck driving pay structures is crucial to making informed career decisions. Whether you’re evaluating CDL driver salary options or comparing truck driver wages, choosing the a carrier that offers the right model for you can significantly impact your earnings and job satisfaction.
Here we’ll break down the three primary methods of payment for truck drivers: cents per mile (CPM), hourly pay, and salary pay.
Why Understanding Truck Driver Wages and Compensation Matters
Firstly: Not all trucking jobs pay the same way.
Some carriers focus on mileage, while others compensate drivers based on hours worked or a fixed salary. Understanding these structures helps you:
- Make informed career choices
- Maximize your earnings
- Ensure fair compensation for the work you’re doing
Cents Per Mile (CPM) Truck Driver Pay
What Is CPM?
CPM is the most common truck driving pay structure throughout the trucking industry. Drivers are paid a set amount for each mile driven.
This rate can vary based on experience, the carrier, or whether you’re driving solo or as part of a team. It’s important to understand exactly what role you’re going to be doing to know exactly how the rate may vary.
Average Income for CPM Drivers
The average truck driver pay for CPM=based drivers ranges from $0.45 to $0.85 per mile, depending on experience and the company according to surveys in October 2024.
A driver covering 2,500 miles per week at $0.50 CPM earns approximately $1,250 per week or $65,000 per year, excluding bonuses. The average weekly miles across the trucking industry in 2024, was between 2,500 to 3,000 miles.
Advantages:
- Higher earning potential for long-haul and over-the-road (OTR) drivers.
- Bonuses for safety, fuel efficiency, and on-time delivery can increase earnings.
Disadvantages:
- Earnings fluctuate based on mileage availability.
- Drivers may feel pressured to stay on the road longer and can suffer burnout.
Hourly Pay for Truck Drivers
What Is Hourly Pay?
Some trucking jobs, particularly local and regional positions, pay drivers an hourly wage instead of by the mile. This model ensures compensation for all working hours, including time spent loading, unloading, and waiting.
Average Income for Hourly Truck Drivers
Hourly wages for truck drivers range from $20 to $35 per hour. The hourly pay can be based on previous driving experience, and the work being done. It can also vary depending on the route being driven- as there can be a stark contrast between local runs in a small radius and regional drivers that may be out anywhere from 1 to 5 days in a region.
A driver working 50 hours per week at $25 per hour earns about $1,250 per week or $65,000 per year, with potential overtime pay.
Advantages & Disadvantages of Hourly Pay
Advantages:
- Guaranteed pay for all working hours.
- Better for local and short-haul drivers who spend more time at docks and in traffic.
- More predictable income with a set work schedule.
Disadvantages:
- Typically lower earnings potential compared to OTR mileage-based pay.
- Some companies cap overtime pay or limit available hours.
Percentage Pay for Truckers
What Is Percentage Pay?
Percentage pay entails being paid a percentage of the revenue generated by a load being hauled. This means that drivers can earn more whenever they haul higher-paying, higher-value loads, and less when freight rates are low.
Average Income for Percentage-Based Truck Drivers
The percentage varies from company to company but typically ranges between 20% to 35% for company drivers and 70% to 85% for owner-operators leasing onto a carrier. The average income varies greatly, but the current average salaries for Percentage-based drivers is around $55,000 yearly starting out.
Private fleets, Owner Operators, and specialized drivers may earn more with these kinds of pay structures, but they may also have to pay out of pocket for truck expenses.
Advantages & Disadvantages of Percentage Pay
Advantages:
- Drivers can earn more when hauling high-paying freight.
- Encourages drivers to select better-paying loads and optimize routes when they are the ones at the negotiating table.
Disadvantages:
- Earnings can greatly vary depending on freight rates and market conditions.
- Drivers may have to wait for better-paying loads, which can reduce total earnings, especially if they are in highly competitive lanes.
Melton Truck Lines Truck Driver Wages and Compensation
Melton offers a competitive CDL driver salary based on the CPM truck driving pay model.
As a leading flatbed trucking company, Melton offers competitive pay based on experience, plus performance-based bonuses. Our pay ranges from $0.52 to $0.65 CPM, with opportunities for additional pay in the form of tarp pay, fuel-efficiency bonuses, and extra pay for oversized and HAZMAT loads.
While on the hunt for the next step of your driving career, it helps to take extra care in choosing the pay structure that suits you and your personal needs. Learn more about driving for Melton on our flatbed driving jobs page.