Bonuses

Sign On Bonuses Many companies offer sign on bonuses, however, signing the agreement does not mean you get the money. Most companies have minimum work/performance requirements. Many times, sign on bonuses are only available to experienced drivers. Sign on bonuses are used to recruit both company drivers and owner/operators.


It is not uncommon for company drivers to be required to complete 1 year or maybe more, especially if a new driver coming out of truck driving school. Some companies will pay for commercial truck driving training costs in exchange for the driver working for the company a set amount of time. Some companies have their own training program and will pay a salary and other benefits while you are enrolled in their school but require you to work for them after you get your license. In the event they train you and you fail to meet you end of the bargain (work for them the required time), they will require that you pay them back the money they invested in you. If you paid for your own schooling, the company may reimburse you as opposed to a sign on bonus. You will not likely get both.




Safety Bonuses
You guessed it, safety bonuses are used reward drivers for following the rules and staying out of trouble. How safety bonuses are calculated differently at each company. Not all companies offer them. Some companies will give give safety bonuses for just doing the paperwork correctly. Correct log books and correct daily logs generally can be an indication that the driver is playing by the rules. Or very creative at cheating.

Fuel Bonuses
Some companies pay company drivers fuel saving bonuses. This can be calculated a couple of different ways. The company may give the driver the option of setting the truck's speed governor at lower speeds, i.e. 60MPH, and then reward the driver with 1 or 2 cents per mile in their earnings. Other companies calculate a fleet fuel average and then reward the drivers that achieve better then fleet results with either straight bonuses ($500, $1,000, etc.) or they will again add to the driver's base rate. Owner Operators do not qualify for company fuel bonuses because the O/O pays for the fuel and so any owner that saves on fuel is cutting their own costs.

Longevity Bonuses
Company drivers and occasionally Owner/Operators, will earn bonuses based on their time with the company. Sometimes referred to as seniority bonuses, these are generally calculated by a higher per mile rate based on your years with the company. A 1st year driver may earn $.45 a mile and then one ($.01) additional per mile for each year with the company up to 5 or 10 years for a max out. This rewards the driver for staying with the company saving the company money on recruiting and training replacement drivers.

Recruiting Bonuses
Word of mouth is the best advertizing any company can get. And be it finding new customers or quality employees, companies (often) value their employees inputs. Most employees will not recommend their unreliable friend or relatives because when that person screws up the referring employee will look bad. Since companies realize that most people will only refer honest, trustworthy and reliable co-workers, they will pay a bonus to the current driver and may also pay a sign on bonus to the new driver.