This is something that older more experienced drivers will get a chuckle out of and newer drivers should read carefully and pay attention to.
I recently signed on with a company (after letting them woo me for three weeks). I thought that I would be a company driver starting at 29% of the load. What I didn't realize is that when I signed the paperwork (I should have read it all carefully) I agreed to paying the company 25% off the top, then I got 29% of what was left over. This amounts to about 22% or less. So, on a $1000 load I thought that I would get $290, but in fact they take $250 off the top, then they take an additional 71% or $532 (which in the paperwork they call truck rental, this enables them to legally 1099 you and not have to pay unemployment or workers comp. hence you are an O/O without the first O.....lol)
Anyways, this leaves you with a whopping $217. Now that wouldn't be too bad but when you consider it took 2 1/2 days to complete that one load due to delays (common with this and many other companies) you average less then $100 dollars per day (approx $75). You can make that at Burger King for petes sake.
So why do I come here and tell this humiliating story? So New drivers can have a heads up on yet another trick that companies will try to get you to drive for them.
Just quit and move on you say? I did. But when signing the agreement, I also agreed to $3000 escrow account which the driver fills at $50 per week. This they say covers any un-authorized costs acquired by the driver. When you quit or get fired, they have the right to hold that money (and in my case, because I only worked there for a week and a half, my final settlement) for 60 days. This is actually a deterrent because they realize that most people can't go without that final check for so long.
My message simply put is this, READ READ READ, ASK ASK ASK. If they get hung up answering questions, or seem annoyed at you asking so many questions, steer clear because they are probably hiding something. Ask to see the agreement that you will be signing. Talk with other company drivers if possible (preferebly more that one). And then take the time to do the math. Simply asking them what the average wage is is a waste of time cause they WILL LIE. It is a good idea to treat the situation as if you were hiring them. Make them sell themselves (truthfully if possible) and then do your homework.
Good luck out there and Godspeed.
Jasper
I recently signed on with a company (after letting them woo me for three weeks). I thought that I would be a company driver starting at 29% of the load. What I didn't realize is that when I signed the paperwork (I should have read it all carefully) I agreed to paying the company 25% off the top, then I got 29% of what was left over. This amounts to about 22% or less. So, on a $1000 load I thought that I would get $290, but in fact they take $250 off the top, then they take an additional 71% or $532 (which in the paperwork they call truck rental, this enables them to legally 1099 you and not have to pay unemployment or workers comp. hence you are an O/O without the first O.....lol)
Anyways, this leaves you with a whopping $217. Now that wouldn't be too bad but when you consider it took 2 1/2 days to complete that one load due to delays (common with this and many other companies) you average less then $100 dollars per day (approx $75). You can make that at Burger King for petes sake.
So why do I come here and tell this humiliating story? So New drivers can have a heads up on yet another trick that companies will try to get you to drive for them.
Just quit and move on you say? I did. But when signing the agreement, I also agreed to $3000 escrow account which the driver fills at $50 per week. This they say covers any un-authorized costs acquired by the driver. When you quit or get fired, they have the right to hold that money (and in my case, because I only worked there for a week and a half, my final settlement) for 60 days. This is actually a deterrent because they realize that most people can't go without that final check for so long.
My message simply put is this, READ READ READ, ASK ASK ASK. If they get hung up answering questions, or seem annoyed at you asking so many questions, steer clear because they are probably hiding something. Ask to see the agreement that you will be signing. Talk with other company drivers if possible (preferebly more that one). And then take the time to do the math. Simply asking them what the average wage is is a waste of time cause they WILL LIE. It is a good idea to treat the situation as if you were hiring them. Make them sell themselves (truthfully if possible) and then do your homework.
Good luck out there and Godspeed.
Jasper
