New Panther Sign-on Bonus!

chrisv · Feb 17, 2011

Good afternoon!

Panther is excited to announce a new sign-on bonus program for owner/operators effective immediately:

Straight Truck Solos: $2,500
Base ($1,500) + FAST Card Kicker ($500) + HAZMAT Kicker ($500)
Straight Truck Teams: $5,000
Base ($3,000) + FAST Card Kicker ($1,000) + HAZMAT Kicker ($1,000)

Tractor Solos: $4,000
Base ($3,000) + FAST Card Kicker ($500) + HAZMAT Kicker ($500)
Tractor Teams: $8,000
Base ($6,000) + FAST Card Kicker ($1,000) + HAZMAT Kicker ($1,000)

**Note: Bonuses are adjusted based on how many of the requirements you meet. Example: If you're part of a tractor team and you both have HAZMAT but you do not have FAST Cards, your bonus will total $7,000.

This program will only be offered for a limited time. For questions or information requests, please don't hesitate to call me directly.

Thanks, and have a great day!

TeamCaffee · Feb 17, 2011

Wow those bonuses are huge but what does the little * consist of?

fortwayne · Feb 17, 2011

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fortwayne · Feb 17, 2011

The * might just stand for payable after 1 year of service...LOL. I hate seeing sign on bonus announcements. A carrier has to have a plan within the bonus on how to recoup that money.
In addition, why the need to even offer such. The history, the reputation should be enough.
Is it financially beneficial for a carrier to just hand out a sign on bonus?
What strings come with a bonus? Lower rates, higher fees?

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chrisv · Feb 17, 2011

Thanks for the replies. I have edited the post and added explanations to better illustrate how the bonus works. Please let me know if you have additional questions!

idtrans · Feb 17, 2011

Darn and I just took all the panther stickers off of my truck ! If I knew this yesterday I would have signed on before the 10 hours of sticker removal from my straight truck ! Story of my life.

TeamCaffee · Feb 17, 2011

Is the bonus paid in a lump sum or paid out over what length of time?

greg334 · Feb 17, 2011

FAST card?

How much Fast freight does panther get to justify the bonus?

deliveritnow · Feb 17, 2011

It is all paid out within the first 6 months, and the only thing that is being asked is to have better than fleet average load acceptance and availablity.

Sounds pretty fair.

pelgrn · Feb 17, 2011

I've had a Fast card since they first came out and been with Panther for 11 yrs and never done a Fast load.Now the CDRP card get's more use with the NLM stuff,i am in a van and on avg about 4-5 loads a yr into Canada.

Bruno · Feb 17, 2011

chrisv said:
Good afternoon!

Panther is excited to announce a new sign-on bonus program for owner/operators effective immediately:

Straight Truck Solos: $2,500
Base ($1,500) + FAST Card Kicker ($500) + HAZMAT Kicker ($500)
Straight Truck Teams: $5,000
Base ($3,000) + FAST Card Kicker ($1,000) + HAZMAT Kicker ($1,000)

Tractor Solos: $4,000
Base ($3,000) + FAST Card Kicker ($500) + HAZMAT Kicker ($500)
Tractor Teams: $8,000
Base ($6,000) + FAST Card Kicker ($1,000) + HAZMAT Kicker ($1,000)

**Note: Bonuses are adjusted based on how many of the requirements you meet. Example: If you're part of a tractor team and you both have HAZMAT but you do not have FAST Cards, your bonus will total $7,000.

This program will only be offered for a limited time. For questions or information requests, please don't hesitate to call me directly.

Thanks, and have a great day!

Sounds great Chris. Is this for new contractors only or anyone that adds a truck? You may want to share that with us who may be thinging of adding more units.

jjoerger · Feb 17, 2011

Wonder if this is due to the impending drivers shortage we keep hearing about?

Bruno · Feb 17, 2011

I will say this about Panther. We are happy with the company and they want to see your business grow. In two years we have went from four trucks to ten. We plan to grow our fleet even more this year with Panther.

golfournut · Feb 17, 2011

Bruno said:
I will say this about Panther. We are happy with the company and they want to see your business grow. In two years we have went from four trucks to ten. We plan to grow our fleet even more this year with Panther.

Bruno, just curious, how many solos do you have signed on with Panther?

Bruno · Feb 17, 2011

golfournut said:
Bruno, just curious, how many solos do you have signed on with Panther?

None, We run team 95% of the time. Sometimes we will let a driver go run solo for a week if his co driver is going to be off a week. But we are a team company. I was told this once by my father. Your not making money unless your making money when your sleeping.

golfournut · Feb 17, 2011

Bruno said:
None, We run team 95% of the time. Sometimes we will let a driver go run solo for a week if his co driver is going to be off a week. But we are a team company. I was told this once by my father. Your not making money unless your making money when your sleeping.

That is sound advice. I know Panther has had a reduction in the solo st department. It's a team world there.

BillChaffey · Feb 17, 2011

Papa Bruno sounds like a smart cookie.

greg334 · Feb 17, 2011

Sorry if this sounds bad and I thank you Pelgrn for the post but I would like to know why a FAST card will get a bonus but not a Twic or CDPD by the rep of Panther.

Why a FAST card?

Why not a bonus for a clean driving record or something like that instead?

Moot · Feb 17, 2011

fortwayne said:
In addition, why the need to even offer such. The history, the reputation should be enough.

That could be the very reason they need to offer a bonus. Con-Way paid me a $1000 to sign my van on with Panther in 2006.

A couple years ago Panther (mistakenly) told their drivers that a passport was required to do Canadian loads and they wanted all Canadian qualified drivers to send in a copy of their passport. I refused to send a copy of my passport, but did offer my passport number. Haven't had a load offer going to Canada since so I let my FAST card expire.

JOHNCLARK · Feb 17, 2011

fortwayne said:
The * might just stand for payable after 1 year of service...LOL. I hate seeing sign on bonus announcements. A carrier has to have a plan within the bonus on how to recoup that money.
In addition, why the need to even offer such. The history, the reputation should be enough.
Is it financially beneficial for a carrier to just hand out a sign on bonus?
What strings come with a bonus? Lower rates, higher fees?

Posted with my Droid EO Forum App

That's not fair. When I set out to recruit it is because of several reasons. All the stars have to align for me to put my reputation on the line. Sales,demand,etc. My rates have never changed for a bonus. The bonus comes from the fact that I have additional capacity and it comes off the backend of my profits. Ask any of my O/O's posting on here, more times then not I pay additional money for any reason I feel. Maybe a $50 bonus per run even up to $200 I have paid per run. For no specific reason. But remember, I also pay $.85cents a mile for d/h and I pay drivers to reposition after they deliver into a not so hot area almost immediately. Why sit in a bad area. Question is, why take the load to begin with? Oh well, enough ranting for now.