Truck driver sign-on bonuses is a great incentive that attracts new drivers to the field. Also, it’s another way for business owners to avoid turnovers and retain new drivers.
With so many advertisements recruiting new truckers, it’s hard to pass up. The focal point is the signing bonus. Money is a big motivator for many of us, and that doesn’t stop with trucking. Signing bonuses are very appealing to new drivers. But, before accepting your bonus, there are a few things you should know.
Signing bonuses are usually given in the form of cash. However, tuition reimbursement for training programs can also be considered as a bonus. Furthermore, your sign-on bonus amount may vary from other truckers. Factors such as experience, job location, CDL endorsements, and owner/operator status all affect the amount a truck driver receives.
Moreover, it has been said that the best bonuses are given to long and heavy haul drivers. OTR drivers are also among the top. Additionally, bonuses are issued to truck drivers who complete orientation, or their first run. However, other companies require drivers to complete 90 days before issuing a bonus. While some are given at the end of the first month. Further, signing bonuses range anywhere from $500 to $5,000. Though, the median bonus is around $1,500.
Still, make sure you understand the terms of your signing bonus. It is important to go over all details. The agreed upon bonus should be in writing and on record. Furthermore, be sure of all requirements associated with your signing bonus.
Most importantly, a signing bonus is a fun incentive, and should not be the determining factor in why you become a truck driver.