New Student Trucker PAM/DriverSolution

Pam is not bad I am in day 3 of Orientation and things are doing well. I can say that from what my family has told me a truck escrow is standard across many companies (think of it like a deposit on your new mobile apartment). Without going into detail Most companies will offer you a minimum payment for X amount of months that you first work for the company. Second most companies will offer you an ADVANCE of X amount of $ and charge you a fee for using them for example:

lets say they offer a $100, a $50, and another $50. that you can pull each week, but they charge you 10 per ADVANCE that you pull.

So lets say you take all 3, that $200+$30= $230

lets say you are a SOLO driver making .25 a mile and your average is 2000 miles a week

So 2000 x .25 = $500.00

Okay now you made $500.00 in one week before taxes

Now uncle same wants his 20%

so $500.00 x .20 = $100

$500 - $100 = $400 after taxes

but you took $200 in advances and then was charged a $30 fee

so $400 - $230 = $170

but now you still have to take out your 401K - INSURANCE - ESCROW (if you have not maxed it out) and School contract (if you have one)

lets say say that 401K is 2% so 2% of $500 is $10
lets say INSURANCE is $25
ESCROW is $25
and SCHOOL is $45

TOTAL 10 + 25 +25 + 45 = $105

Now we take $170 - $105 = $65.00

After the ADVANCES + 401k + INSURANCE + ESCROW + SCHOOL PAYMENT+ TAXES your total check = $65 for the week but in all you got $200+ $65 that = $265 NET that you got all week had you not taken the ADVANCES your check would have been $265 + 30 = $295 NET (After 401k + INSURANCE + ESCROW + SCHOOL PAYMENT+ TAXES)

*NOTE THESE NUMBERS ARE JUST FOR SHOW*******

 

Some learned that the hard way!

 

Hey everyone just giving an update I am currently in North Little Rock, AR waiting for my Mentor to pick me up today. Then I will be out on the Road for 2 weeks here goes nothing!!

 

With the Trainer on the Truck Sitting in the N. Little Rock Yard waiting on first dispatch, did my 34 hour reset the anticipation on where we will be going is killing me. Its going to be a fun 2 weeks The trainer and I are getting along just fine!