Flatbed rates are the reason why so many truck drivers want to transition from Dry Van to Flatbed.
While Flatbed drivers claim that you need some time to get the proper training to drive Flatbed and get those Flatbed rates, many are rushing and trying to apply for Flatbed driver positions.
What do Flatbed rates look like today?
As usual, Flatbed rates are higher than the ones you can get with Dry Van.
But, there are a few things that have a direct impact on Flatbed rates:
- The current state of the market and the industry
- The brokers
- Competitiveness of companies
At the time of writing, Flatbed rates average around 50 cents per mile for company drivers and contractors.
That rate may go up and down, depending on the company offering the position. Some pay as low as below 40 cents per mile, while others go as high as 70 cents per mile, you can check that here.
As drivers are getting more interested in Flatbed, the average salary for truck drivers changes due to changes in the industry itself.
What can you expect in the following time?
As the health of the market changes so do Flatbed rates. Right now the market is not in such good shape it was a couple of months ago, so it’s plausible that Flatbed rates will go down.
Some companies that aren’t doing so well already adjusted their rates according to the market. While Strong Group still maintains a 70 CPM rate.
It’s important to notice one small detail when asking about the company’s Flatbed rate. Many companies out there won’t pay you all the miles, but only the ones that you cover with the load.
So, if you’re an owner-operator, and the company offers you 60 CPM, but they only pay you the miles you covered loaded, while you still have to cover the expenses for fuel and other things while driving empty.
Around 40% of all miles are empty, so the companies that don’t pay the empty miles, leave you with a lot of expenses.
They don’t realize that not only fuel costs haven’t gone down, but your time has a price as well.
With the new fees that will be introduced in 2020 for drug and alcohol testing for carriers, rates could only go down.
Hopefully, newly introduced fees won’t impact the rates for truck drivers, because, in the end, both the driver and the company should be happy for the business to flourish.
Flatbed rates summary
Flatbed rates still look pretty good, although all rates are slightly going down it’s up to the companies to decide will they lower the pay rate for their drivers or keep it where it is.
We still pay $0.70 per mile for our Flatbed division and don’t plan on lowering it soon, because we still have a lot of freight to haul!