How much does the owner-operator make? This is one of the questions raised in people’s minds, especially those who want to get a job as an owner-operator.
In this article, you will find out everything related to an owner-operator salary, total payments, and extra expense, I hope you get your answer and enjoy.
Table of Contents
How Much Do Truck Driver Owner Operator Make?
An owner-operator gets highly salary, he also has some extent by expenses.
An individual truck driver who works for his own may get averages of about $183,000 per year.
On the other hand, there are a lot of different ways of expenses that can reach over 70% percent of his total earrings.
For this reason, the normal average of owner-operator payments per year may reach from $50,000 to $60,000.
What is an Owner Operator Salary?
The owner-operator salary is affected in many ways:
Each one is different from the others, as his situation is different according to his tax payment, maintenance, and other requirements.
It depends on the trailer type he pulls, the freight lanes he travels on.
An owner-operator salary is also affected whether you get authority or lease.
You drive your own trailer or you lease it and whether it is on a percentage or mileage basis.
An owner-operator pay might get a total of $150,000 to $225,000 per year, but don’t panic if you realize that most of this passes away to different destinations.
If you are leasing a truck for a company, think of the percentage of leases because they will get you much more, you needn’t chase miles.
If you chase miles to make extra revenue, you surely lose as the winners are always the repair shops and the oil companies.
What is an Owner Operator Pay Per Mile?
Many truck owners operate a carrier to get continuous work, only two owner-operator income programs are common in this industry, mileage, or percent of the load.
So what is an owner-operator pay per mile or percent of load?
According to estimates done, about 4,000 truckers run by StayMetrics, one of the big survey companies in the USA, half of them paid by percentage, while the second half paid by mileage.
When you deal with percent of load program, you get paid from 25% to 85% of the load revenue, it means that you get higher pay when your load is heavier.
These programs work well, especially for those who are very keen on their finances, it has many benefits for them.
An owner-operator pay per mile is more likely to be something stable, your pay is the same,
It’s not affected by how much is your load, but by the distance you run.
This program is important for many truckers, particularly those who want to come back to their families after a short time.
There are pros and cons to both of the two programs, mileage pay or percent load.
However, studies show that percentage-pay is much more accepted by many truckers, they are always satisfied with their jobs.
The Salary After Expenses
If you gross about $225,000 per year and you lease your truck, in this case, you could run about 170,000 miles a year on your truck, taking home only $60,000, after taking taxes, they will be about $47,000.
if you gross about $196,000, with your own truck, in this case, An owner-operator salary might run 110,000 miles per year, taking home about $60,000 after taxes.
What is a Flatbed Owner Operator?
Flatbed Owner Operators are at top of the owner-operators, they are professional CDL truck drivers.
They also have varieties of options for their compensation plans.
A recent survey on a big number of owner-operators proved that owner-operators who are partners with Roehl Flatbed Owner Operators have the highest net revenue at all.
Roehl owner-operators are the top off this industry where they may get about $200,000 a year.
Whatever you work for, whether you are planning to get your own truck, or you get a fleet of trucks, or you have a company driver at various trucking outfits.
You’ll soon know that Roehl’s the best choice as a partner you can trust widely.
What is an Owner Operator Flatbed Salary
As mentioned on Apr 17, 2020, according to the estimates done, in the United States the average pay per year for a Flatbed Owner Operator is about $199,065 a year.
The majority of Flatbed Owner Operator salary is currently ranging from $95,500 to $280, varies up to $185,000.
It shows that fewer opportunities for advancement are based on skill levels, increased payment is also based on years of experience and location.
To estimate annual salary range with great accuracy for Flatbed Owner Operator jobs.
ZipRecruiter updates its database to millions of active jobs which are continuously published throughout the USA, you can look for a high paying job.
Is it true That Owner-Operators Make Six Figures a Year?
Most experienced truckers agree that they may earn too much from their job, they get many benefits.
On the other hand, they may lose everything if they are not careful about reducing their yearly expenses.
It can be truly an owner-operator salary may be enough to make six figures a year, here are some tips if you follow, you can be totally satisfied with your salary.
There are two categories of expenses, fixed and variable expenses.
For fixed expenses, such as insurance, truck payments, and licenses, they are inescapable and completely unchangeable.
But here are some tips to do:
- In the case of fuel costs too much, reduce your speed.
- cut idle time.
- renegotiate with fuel surcharges.
- look at your empty miles.
- find nearby loads to reduce deadhead expenses.
Variable expenses you can reduce through these strategies.
- Save on food and drink
- Keep a cooler and a microwave on hand to avoid buying drinks.
- Cook food at home makes it cheaper.
- Eat healthy food will reduce your healthcare expenses.
It’s completely up to you, to become an owner-operator can allow you much control over your salary.
you can save too enough that you ensure a better life.
It gives you the opportunity to do things which are not available for many others, you can see new places, shop around from the best places, and many other benefits.
On the other hand always think of reducing your expenses to the lowest rate.