So, after going through the motions here is what it turned out to be, this is how it was presented to me....I have not added any opinion.
The carrier asked me to come in for an interview, during which they presented the following,
Last 6 months avg paid to a similar truck (C unit), worked out to be $10,326. Best month was 14k, worst was 7k. The example was presented as a "real good runner" and when you looked at his trips he had 9 days with no loads.
Of that $10,326 the carrier deducted the following,
$560 for insurance, 115 for Qualcomm, 100 holdback, 50 for a required item (I can't say what as it would identify the carrier) and 3098 for fuel (you buy your fuel from this carrier).
This leaves $6403. The fuel number is 30% of the gross, the actual deduction was not shown, the recruiter said 30% was average.
In all of this the following items have not been accounted for,
Plates, likely around 100 a month.
Maintenance, given a 8000 mile month (my assumption, it was not disclosed) at 6 cents (my experience) that's $480.
Now we are down to $5823.
Haven't paid any IFTA tax yet (although ON does charge a lot of tax at the pump).
Let's say thats it, now you'll recall the owner wants 50 % or $2912.
Leaves me $2912 out of which I must pay income tax, US health insurance, cell phone (required by carrier) and any other personal on road expense (food, showers, air card maybe?).
In all of this, nothing went "wrong", freight claim, accident or ugly deadhead miles, blown tire etc and freight stayed strong.
Some other notes, the carrier does not pay 100% FSC to the truck and adjusts the rate monthly based on the EIA price on the first Monday of the month, this would not have taken in the price swing in the last 2 weeks. I know there is some risk with FSC never being 100% able to cover a big swing.
Based on this, I walked away. The slow season is coming and I have to believe that the 7 K months would be the norm for a while (the example's last month was 7 k) and at that rate the owner wouldn't be able to make his truck payment (trucks are 3 months old).
The owner is not a trucker or someone who's been in the industry and has a full time job that takes him away, so if something goes big goes wrong do I spend his money? Will he be OK with what I do or will I be "deducted". Don't know as there is no written agreement.
A few side notes, the owner bought his trucks (3) from a "buy a truck and we'll get you a career/business" kind of places. That explains the trucks being 3 mos old, tried it and it didn't pan out. While he seemed like a nice guy, he did not seem to have enough trucking smarts for me to pin my income to.
