Owner Operator vs Truck Driver: Pros & Cons
Before you decide which route to take when it comes to your trucking career, owner operator vs truck driver, it’s important to understand the pros and cons of each.
Owner operator may have more control over their career, but company truck drivers may have more stability. There are benefits and drawbacks to both paths.
With the help of Value Truck, let’s explore them so you can make the best decision for yourself.
What Is an Owner Operator Truck Driver?
An owner operator is an independent truck driver who owns or leases their own trucks. They are an independent business person who is responsible for finding their own work, maintaining their truck, and covering all of their own expenses in the trucking industry.
Owner operators tend to have more control over their careers than trucking companies. However, this also means that owner operators are responsible for all of their own expenses as a business owner.
What Is a Company Truck Driver?
Company truck drivers are employed by a trucking company. The company provides the truck and covers all maintenance and business expenses.
A company driver is typically paid by the mile and may have less control over which loads they haul and when they work. However, company drivers usually have more stability and may be less likely to experience dry spells between loads.
The Pros & Cons of Being an Owner Operator
There are both pros and cons to being an owner operator. On the plus side, an owner operator has the potential to make more money than company drivers. They’re also able to choose their own loads and work more flexible hours. However, owner operators are also responsible for all of their own expenses, which can be significant.
Pros of Being an Owner Operator
Pro 1: More control over your career.
You’re your own boss, so you make the decisions about what routes to take and when to work. This can be a great perk if you have family obligations or other commitments that you need a workaround.
Pro 2: Potentially higher earnings.
Owner operators typically earn more money than company truck drivers. This is because owner operators are responsible for their own expenses, so they get to keep a larger percentage of their revenue.
Pro 3: Greater flexibility.
Owner operators can often choose their own hours and routes, which allows for greater flexibility than company truck drivers.
Cons of Being an Owner Operator
Con 1: More responsibility.
As the owner operator, you’re responsible for the truck, the trailer, and all the cargo. If something goes wrong, it’s on you to fix it.
Con 2: More risk.
There’s a greater chance that owner operators will go out of business than company truck drivers. This is because owner operators have more overhead costs and less stability.
Con 3: Less benefits.
Owner operators don’t typically receive the same benefits as company truck drivers, such as health insurance and retirement savings.
If you’re thinking of becoming an owner operator, we at Value Truck prepared a short video on the 5 things that new owner operators need to know:
The Pros & Cons of Being a Company Truck Driver
Company truck drivers have several benefits. First, they’re typically paid by the mile, which can be more stable than owner operator rates. They also don’t have to worry about maintenance or business expenses, which can be a major burden for owner operators.
However, company truck drivers may have less control over their work and less opportunity for advancement.
Pros of being a Company Truck Driver
Pro 1: Steady income
Company truck drivers often have a more stable income than owner operators, since they’re paid by their employer. This can be helpful if you’re trying to save for a home or other long-term goal.
Pro 2: More predictable schedule for company drivers.
Company truck drivers typically have a set schedule that they follow, which can make it easier to plan your life outside of work.
Pro 3: More company driver training and support.
Company truck drivers often receive more training and support from their employers than owner operators. This can be beneficial if you’re new to the trucking industry.
Cons of Being a Company Truck Driver
Con 1: Less control over your career.
Company truck drivers typically have less control over their careers than owner operators. This means that you may not be able to choose your own hours or routes.
Con 2: Lower earnings potential from a trucking company.
Company truck drivers usually earn less money than owner operators, since they’re paid a set salary by their employer.
Con 3: Less flexibility.
Company truck drivers typically have less flexibility than owner operators when it comes to choosing their hours and routes.
Owner Operator vs Truck Driver: Which Is the Right Choice?
Since you already know the difference between owner operator vs truck driver, it is now time to choose which is the best for you.
Both owner operators and company truck drivers have their pros and cons. It ultimately depends on your personal preferences and goals.
If you want more control over your career and higher earnings potential, owner operator may be the right choice for you. If you’re looking for more stability and less responsibility, company truck driver may be a better fit.
Considerations When Deciding Between owner operator vs truck driver
When making the decision between owner operator vs truck driver, there are a few things to consider:
- How much control do you want over your career?
- How important is flexibility to you?
- What earning potential do you prefer?
- Do you want to be responsible for your own expenses?
- How comfortable are you with risks?
- What benefits are important to you?
Making the decision from owner operator vs truck driver can be difficult. By weighing the pros and cons of each option, you can make a more informed decision about what’s best for you.
Conclusion
No matter what path you choose, Value Truck can help you get started on your trucking career. We offer owner operator and company truck driver financing, so you can get the truck you need to succeed. We also have a wide selection of trucks for sale, so you’re sure to find the perfect one for your needs.
Contact us today to learn more about our owner operator vs truck driver financing options. We’re here to help you get started on your trucking career!