If you own a truck, you are probably wondering which companies pay the highest wages for owner operators. If you don’t yet own a truck but are considering making the purchase, you might wonder whether owner operator pay is worth it. Keep in mind that being an owner operator gives you a great deal of freedom, but it also comes with increased responsibilities. Here is what you should know when looking for the highest paying owner operator trucking jobs.
Pros and Cons of Becoming an Owner Operator
If you haven’t yet purchased a rig, remember that it is not all about the money. Owner operators also get a lot of independence and flexibility, including the ability to make your own schedule (within the constraints of shipment deadlines), as well as to choose your loads and decide who you want to work with.
However, your obligations will also increase. In addition to driving, and possibly loading and unloading, you will have to set up your own contracts and maintain your truck. You will be held accountable for any mistakes, and you will always have to think about how to build your brand and grow your business. Startup costs can be high, though funding options are available.
Top Owner Operator Trucking Companies
The trucking industry continues to experience explosive growth, and companies of all sizes in all geographic locations need new owner operators. Which company to choose is an intensely personal decision, but here are 10 of the companies that pay the best:
Covenant Transport: Covenant Transport’s owner operator program is fairly new, and the company is aggressively recruiting. Solos are paid $1.40 per mile, with a $5000 sign on bonus and 2300 guaranteed miles per week. Teams are paid $1.50 per mile, with a $10,000 sign on bonus and 4000 guaranteed miles per week. Covenant Transport has long been known for its commitment to its drivers, and now is an excellent time to get in on the ground floor of the new program.
Crete Carrier: Crete Carrier began as an all owner operator company in 1966. Though the company now also hires company drivers, it remains incredibly loyal to its owner operators. There are a variety of pay packages from which to choose, from flat rate mileage to percentage of gross load revenue. The company also offers a number of benefits and special discounts, as well as a common-sense truck purchase program.
CRST Expedited: CRST Expedited boasts 50 years of industry experience, and the company is passionate about supporting its owner operators. Those who already own their rig make an average of $1.60 per mile, while those in the extensive lease purchase program earn 70% of revenue plus a fuel surcharge. Experienced owner operators can earn additional money training new drivers, or even turn their solo operation into a team through the Train Your Partner program.
Family owned for 100 years, Hogan Transports is deeply committed to all its drivers, including its owner operators, with highly competitive pay and fuel surcharges. Full benefits, dedicated runs that match your individual needs, and the opportunity to amass as many miles as legally allowed make Hogan Transports an excellent choice for both new and experienced owner operators.
J.B. Hunt: Find Owner operator contracting opportunities within our competitive compensation plans and strong miles. Owner operators contracting with J.B. Hunt's truckload operations typically move 98% no-touch, over-the-road freight within the states east of I-35. Intermodal Owner operators can enjoy local and regional opportunities moving railway containers and are typically home on a daily or weekly basis.
National Carriers: If you are an Owner Operator or have interest in a Leasing program, NCI offers Owner Operator pay and benefits that help truck drivers get ahead. OTR trucking jobs with the Elite fleet offer steady year-round freight and dependable home time when you need it.
Towaway Express: Headquartered in Pennsylvania, Towaway Express is a veteran-owned company offering Owner Operator truck drivers 34 years of trucking business experience. Owner Operators are rarely requested to load, unload or tarp freight. Towaway has truck driving job opportunities and welcomes contractors from all states to apply to join their team.
USA Truck: USA Truck is committed to helping its owner operators grow their business. Choose between mileage pay at $1.05 per mile or revenue pay of 65% plus fuel charge surcharge. Self-dispatch, bonuses, and an extensive lease purchase program make USA Truck a top choice for owner operators.
Warren Transport: Whether you're an Owner Operator with your own equipment or looking to start your business by leasing a truck, Warren Transport offers its truck drivers exceptional opportunities. Warren is a 100% Owner Operator carrier, so "taking care of business" means seeing to it that your business is successful. Independent Contractors profit from a steady stream of high paying freight, plus a variety of freight that allows Owner Operator truck drivers the flexibility you want.