Can a truck driver earn one $100,000 per year?
Truck driving is nice and all, but at the end of the day as Jerry Maguire famously said, “show me the money”! (Actually it was Rod Tidwell, played by Cuba Gooding Jr. who said this phrase in the movie, Tom Cruises character only repeated it). So in that spirit, we spent some time and delved into whether people who where considering getting into truck driving could earn not only a good income, but a substantial income. Could a truck driver actually manage to reach the coveted six-figure mark, or $100,000.00 annual dollar income?
And what we found when it came to truck drivers, at least as far as the data we were able to source, the answer is… no. Well sort of no. According to Indeed.com, which is reputed to be the number 1 job site in the world, the average base salary for truck drivers in Canada sits right around $78,000 per year. Now, while this figure does fall short of the magical six-figure/ $100,000 milestone, we should probably pointing out a few things. First, $78,000 is still by most measures a very attractive income. When you consider that as a frame of reference the average annual household income in Canada is about $75,000, it shows that driving truck for a living does provide a great income that exceeds many other professions/ careers.
Second, this is the average BASE salary. There will be exceptions (indeed.com also pointed out that in Fort McMurray the average base was $99,703 per year… so there are variables that come into play here). So while we had to accept that the average base salary for truck drivers in Canada falls below $100,000, there is another pathway that can significantly increase their earning potential.
Become an owner operator.
Aspiring truck drivers can set a goal of becoming an owner operator, which can significantly increase their income. If we head back to indeed.com and change the criteria from Truck Driver to Owner Operator Driver, this reveals that the average annual income for owner operators in Canada is approximately $176,000. Now, one thing to point out is that operating as an owner operator entails assuming additional responsibilities and expenses since you are effectively running your own business and there will be costs/ expenses that come with that. Owner operators will be responsible for vehicle maintenance, insurance, fuel, and other business-related expenditures.
However, even after accounting for these expenses, it is still highly plausible for owner operators to earn well above the salary of a truck driver. So while reaching a six-figure income as a truck driver may be challenging, the industry provides a solid earning potential that surpasses many other professions. By venturing into the realm of owner operators, truck drivers can elevate their income significantly and enjoy the rewards of running their own business.