I spoke to 2 different Panther recruiters and got 2 different answers. My question is, when they tell me that I can make up to $140,000 per year in a straight truck what does this actually mean, what amount can I expect to end up in my pocket? One recruiter told me 30% less than $140,000, the other one told me 60% less than $140,000. Which one is correct and where does all that money go to. I plan on paying cash for my truck so I would not have a payment. I can see $35,000 for fuel, where does the other $49,000 go to? Hopefully someone can clear this up for me.
When a Panther Recruiter says $140,000 a year what
- Thread starter Mileater
- Start date
RE: When a Panther Recruiter says $140,000 a year
Mileater,
A good figure to use would be 40%. This would normally cover your insurance portion, fuel and whatever truck payment you may have. If you do pay cash and avoid the monthly truck payment, this would be a very safe figure for you to use.
Hope this helps,
ABC
Mileater,
A good figure to use would be 40%. This would normally cover your insurance portion, fuel and whatever truck payment you may have. If you do pay cash and avoid the monthly truck payment, this would be a very safe figure for you to use.
Hope this helps,
ABC
RE: When a Panther Recruiter says $140,000 a year
mileater
Any recruiter from a reputable carrier can give you good figures on E-Truck average earnings, but there are no recruiters that can give you a good guesstimate of your net earnings. Neither can any EO tractor driving members without knowing your work ethic, driving habits, preventive/corrective repair schedules and other business practices, including your tax liabilities.
In addition to the cost per mile to operate that sweet looking tractor in your avatar, some things you'll need to deduct from the gross revenue of many carriers are Qualcomm Lease fee, Tripak use fee, Bobtail Insurance, Work Accident Insurance, ComData service fees, Escrow account monies, paperwork service charge, log procurement and more.
You said you are paying cash for your truck. That truck deserves a return on the investment so you can't delete the truck cost from the cost of doing business. You won't have just bout a truck, you'll have bought a business.
If you get into a special handling division, such as "Elite" or "White Glove Services", you may need extra cargo handling equipment or Qualcomm accessories.
I suspect you should consider an overhead of at least 50% of gross revenue until you get a handle on the operating expenses of an expediter owner/operator.
Terry
mileater
Any recruiter from a reputable carrier can give you good figures on E-Truck average earnings, but there are no recruiters that can give you a good guesstimate of your net earnings. Neither can any EO tractor driving members without knowing your work ethic, driving habits, preventive/corrective repair schedules and other business practices, including your tax liabilities.
In addition to the cost per mile to operate that sweet looking tractor in your avatar, some things you'll need to deduct from the gross revenue of many carriers are Qualcomm Lease fee, Tripak use fee, Bobtail Insurance, Work Accident Insurance, ComData service fees, Escrow account monies, paperwork service charge, log procurement and more.
You said you are paying cash for your truck. That truck deserves a return on the investment so you can't delete the truck cost from the cost of doing business. You won't have just bout a truck, you'll have bought a business.
If you get into a special handling division, such as "Elite" or "White Glove Services", you may need extra cargo handling equipment or Qualcomm accessories.
I suspect you should consider an overhead of at least 50% of gross revenue until you get a handle on the operating expenses of an expediter owner/operator.
Terry
RE: When a Panther Recruiter says $140,000 a year
Thanks for the info. Abcwine= did you mean 40% under the gross or 40% of the gross?
That 50% sounds better. I have taken some mechanic courses so I'm sure I can stretch the repair costs a bit, and I am totally against insurance whenever possible so I will put the bare minimun insurance on the truck. It seems when something happens you want to avoid claiming it anyway because they end up raising your rate, so insurance is a scam/useless in my opinion.
The first recruiter said 30% under the average of $95,000 and home time every 5-7 days. The second one said 60% under the average $100,000 and home time every 2 to 3 weeks, but if I want to be home once a week it will hurt my bottom line. I was just hoping to get a deal where I can spend my 34 hour reset home rather than at some truckstop not getting paid anyway.
Thanks for the info. Abcwine= did you mean 40% under the gross or 40% of the gross?
That 50% sounds better. I have taken some mechanic courses so I'm sure I can stretch the repair costs a bit, and I am totally against insurance whenever possible so I will put the bare minimun insurance on the truck. It seems when something happens you want to avoid claiming it anyway because they end up raising your rate, so insurance is a scam/useless in my opinion.
The first recruiter said 30% under the average of $95,000 and home time every 5-7 days. The second one said 60% under the average $100,000 and home time every 2 to 3 weeks, but if I want to be home once a week it will hurt my bottom line. I was just hoping to get a deal where I can spend my 34 hour reset home rather than at some truckstop not getting paid anyway.
RE: When a Panther Recruiter says $140,000 a year
>Mileater,
> That would be 40% of the gross.
>
>ABC
40% of the gross sounds terrible for being an owner operator with all the responsibilities and risk. So on average they said a gross of $95,000 x 40% and you have a annual earnings of $38,000. At the low end that figure would be $28,000 and the high end if you go like nuts it would be $56,000. Sorry, but that's terrible. I'll be a company driver any day and make more than that, probably even the first year, with no financial risk or investment.
>Mileater,
> That would be 40% of the gross.
>
>ABC
40% of the gross sounds terrible for being an owner operator with all the responsibilities and risk. So on average they said a gross of $95,000 x 40% and you have a annual earnings of $38,000. At the low end that figure would be $28,000 and the high end if you go like nuts it would be $56,000. Sorry, but that's terrible. I'll be a company driver any day and make more than that, probably even the first year, with no financial risk or investment.
RE: When a Panther Recruiter says $140,000 a year
>Hang on...40% is the cost which is $38,000 leaving you with
>$57,000
>profit.. That would be on the conservative end
>
>
>Hope that looks a little better,
>
>
>ABC
Yes, that sounds better, thanks. I may have misunderstood the one recruiter that said 60% under the gross, hopefully.
>Hang on...40% is the cost which is $38,000 leaving you with
>$57,000
>profit.. That would be on the conservative end
>
>
>Hope that looks a little better,
>
>
>ABC
Yes, that sounds better, thanks. I may have misunderstood the one recruiter that said 60% under the gross, hopefully.
RE: When a Panther Recruiter says $140,000 a year
Mileater,
67% of what?? Paid by percentage has it's pro's and con's. Also,
living in Michigan, most expediters would not have a hard time getting you home.
At least with a flat rate you know what your getting paid?
Call if you've got any other questions.
800-831-8737 x1365.
abc
Mileater,
67% of what?? Paid by percentage has it's pro's and con's. Also,
living in Michigan, most expediters would not have a hard time getting you home.
At least with a flat rate you know what your getting paid?
Call if you've got any other questions.
800-831-8737 x1365.
abc
RE: When a Panther Recruiter says $140,000 a year
ABC, I'm 20 miles out of Detroit and Panther told me 5-7 day out, then said 2-3 weeks out. So best case scenario is 5-7 days.
This other company told me 4 days out per week the rest daily. I know what you mean, 67-70% might be good if they are honest with me. BTW My truck keeps shrinking, I was first looking to drive a Tractor Trailer, then a 24' straight expeditor truck, now I'm told they prefer a 16' GMC 3500 at 10,000 GVW to avoid logging.
Are you a recruiter? Do you guys use those 16 footers at all? What type of home time are you looking at?
ABC, I'm 20 miles out of Detroit and Panther told me 5-7 day out, then said 2-3 weeks out. So best case scenario is 5-7 days.
This other company told me 4 days out per week the rest daily. I know what you mean, 67-70% might be good if they are honest with me. BTW My truck keeps shrinking, I was first looking to drive a Tractor Trailer, then a 24' straight expeditor truck, now I'm told they prefer a 16' GMC 3500 at 10,000 GVW to avoid logging.
Are you a recruiter? Do you guys use those 16 footers at all? What type of home time are you looking at?
RE: When a Panther Recruiter says $140,000 a year
Mileater,
Since your out of the Detroit area, you should get by the house weekly no matter who you're with. Remember, you are an owner operator and can go home whenever you would like. Whether it is every 4-5 days or 4-5 months it is entirely up to you. To be honest with you, most larger expediting companies would like to see you in a 22' straight truck than a cube van. Even though you have to log, you will still make more money in a comfortable straight.
Yes, I am a recruiter. Been doing it for 11 years.
We do have a few 16' footers, but they are 26,000 gvw that can haul around 10,000 lbs.
As I spoke of earlier, home time is your time. We just ask that you let us know when you are available and when your not.
Good Luck,
ABC
Mileater,
Since your out of the Detroit area, you should get by the house weekly no matter who you're with. Remember, you are an owner operator and can go home whenever you would like. Whether it is every 4-5 days or 4-5 months it is entirely up to you. To be honest with you, most larger expediting companies would like to see you in a 22' straight truck than a cube van. Even though you have to log, you will still make more money in a comfortable straight.
Yes, I am a recruiter. Been doing it for 11 years.
We do have a few 16' footers, but they are 26,000 gvw that can haul around 10,000 lbs.
As I spoke of earlier, home time is your time. We just ask that you let us know when you are available and when your not.
Good Luck,
ABC
nightcreacher
Veteran Expediter
RE: When a Panther Recruiter says $140,000 a year
terry hes talking about d unit
terry hes talking about d unit
nightcreacher
Veteran Expediter
RE: When a Panther Recruiter says $140,000 a year
i dont want to be blunt,but if you have to ask these questions,i woud suggest going out with another owner to find out if this is the business you want to get into
good luck
nightcreacher
o/o fed ex cc
i dont want to be blunt,but if you have to ask these questions,i woud suggest going out with another owner to find out if this is the business you want to get into
good luck
nightcreacher
o/o fed ex cc
creekindian33
Expert Expediter
RE: When a Panther Recruiter says $140,000 a year
if thats all panther is paying im going to have to move i was making 180 to 200 thousand ayear whith con way who unfortinitly just sold to panther by the time u pay fuel to me its not worth it
if thats all panther is paying im going to have to move i was making 180 to 200 thousand ayear whith con way who unfortinitly just sold to panther by the time u pay fuel to me its not worth it
kempers_gramp
Expert Expediter
RE: When a Panther Recruiter says $140,000 a year
Do you mean you were GROSSING 180-200K per year?
Unless properly stated, these figures can mis-guide the uninformed.
Do you mean you were GROSSING 180-200K per year?
Unless properly stated, these figures can mis-guide the uninformed.