60/40 split

[w8tamin]

Howdy

In expediting.......I hear a lot of conversation about 60/40 splits. Can someone please explain.......exactly what that means. If I went to work for a O/O as a co-driver and he offers a 60/40 split to the co-drivers with the co -drivers getting to split the the 60 and the owner getting the 40.....how is the amount the truck earns divided up in a 60/40 split? Say the truck grossed $1000 for the week I'm wondering what kinds of expenses and what kinds of income would typically be credited to each person ie Driver one.... Driver two.... and the truck owner...thanks a lot. And is this typical?

Also if you don't mind can someone tell me if it is possible/probable for a co-driver to net 30k (gross take home before taxes) a year operating a 22' box....FL 106 out of the Detroit area......for Panther

I've been offered a job as a newbie and just trying to get as much info as I can before I hook up...thanks a lot if you can provide some info....

mick

Just doing my homework TF

 

[RichM]

60/40 split commonly refers to the percentage of the revenue split between the drivers and the owner. The driver or drivers keep 60% of the revenue,generally buy all of the fuel out of that 60 % and the owner gets 40%.So if a truck grosses $2k a week the driver receives $1200 for his efforts.But if you have to drive a lot of miles for that $1200 your net will be small. Some owners pay tolls,some owners buy their drivers a room once a week etc. Get some experience and look around for the best package. 30 K a year before expenses is certainly doable.

 

[w8tamin]

Thanks for the info Rick.......I think that's the best advice I've heard.....get the experience.......seems like you really need to do this for yourself for awhile....keep you eyes and ears open and then answer your own questions....fortunately I have a few bucks saved....that should help get me thru the first learning curve....and then I guess it's all about the economy, the company and people you work with and for.

Just wanted to also thank everyone who takes the time to post here and especially those that answer questions......and EO for the opportunity to come here for free and read these posts and kinda listen in on the conversations from people in the business.

I have also received a lot of phone calls and emails re: my questins and offers of work....thanks...and as they say keep those cards and letters coming...

I live in New Hampshire and I'm going to work teaming with a guy in his own truck from Michigan. Home time is going to be a issue but I'm flexible so I hope this works out at least for the short term and hopefully longer.

I realize it's not the best scenario for me but this guy seems like a decent dude and he certainly has spent a great deal of his time bringing me up to speed...so I gotta start somewhere and this seems like a good place.

lata

 

[steph66]

Hi. Now I am confused and have been wondering about this. Say you have a truck with Panther or some other company and you get a driver to drive the truck and the driver drives 2,000 miles. What does Panther get and where does the 60/40 split come in. Is that from what is left after you pay Panther or other company.

Stupid question but thanks.

 

[steph66]

Thanks for the info. Was really confused about that as I had never seen it mentioned before.

I am getting ready to jump in as my hours are being cut where I work so I figure now is the time. I have been contemplating this for a long time since my daughter's friend first mentioned that I should consider this as he was working for Tri State and now has moved on. Since I have no family obligations and am not afraid of hard work and long hours , I feel I have nothing to lose but everything to gain.

I have my CDL permit w/hazmat and by the end of next week should have my CDL and medical out of the way. I plan on attending the Landstar Seminar and away I go.

Should be able to send out resumes before end of February. Biggest challange is outfitting the van (Hopefully hired on somewhere) properly. Purchasing is no problem.

Should have taken up the opportunity to drive the van of my daughter's friend for Tri-State before he decided to change jobs.

 

[teacel]

First off learecruiter welcome to the forum. This is a safe place for people to come so they can learn all about EXPEDITING!!! We help by teaching and learning from the heart. So now that you know that I will read you the ????????????????????

If you are telling this guy about a 60/40 split and it being a good deal, why would you give Eric that info in the other thread telling him that the 50/50 split is an awesome deal. We on this forum are here to help others and tell the real deal, not that recruiter double talk (if that is what you are doing). If you want to help others them give the help from the heart. Leave your job outside this forum. This isn’t the classified section of EO!!! This is the forum, where we all teach and learn. You knew or know that 50/50 split isn’t all that awesome, and the 60/40 is better. So why not tell him about it??? LOL

 

[ClassicOne]

well,here goes... I drive for Con-Way Now. Straight trucks make $1.07 a mile on discounted loads not vans... vans would make less. I drive a straight truck so that is my experience. They are located in Ann Arbor, MI now...and the orientation is 2.5-3 days depending on the class size and driver understanding factor. As far as Con-Way goes in general... I'm still with them. I'm sure everyone here will agree.. all companies have their BS. I know Con-Way's BS and have learned to accept and deal with it. Last I knew, Con-Way wasn't leasing on new vans, but things have a way of changing.

 

[steph66]

Is this correct then. If you drive for some one leased to an expediting company you get 60% of the leftover 60%? Since the other posts have disappeared I am not sure if what they said was correct.

 

[guest]

Steph, email me at [email protected] & I will answer any questions you may have. I don't really understand what you mean by 60% of 60% leftover...

 

[teacel]

No!!! That means you get 60% of the 100% the company the truck is leased onto makes. The truck gets lets say $1.00 a mile for all loaded miles and you drive for an owner. You drive 1000 loaded miles to make a delivery. The truck just made $1000, so you get 60% or $600.00 and the owner gets the other 40% or $400.00.

 

[redytrk]

Tony you are exactly right that is exactly right.That is exactly what 60/40 is supposed to mean.However,you need to find out up front if the owner will deduct Qualcom,ins,wap,etc before caluclating the 60/40.