Company Driver to IC

3rd settlement came in so now I can better compare driving as an IC vs Company.
As company driver
week 1 ending 05/08 $120 gross - 6 hrs local work
week 2 ending 05/15 $1543.81 - 1991 loaded, 240 empty, 20 hours layover, 7 day sleeper, 1 live load, 1 live unload
week 3 ending 05/22 $1749.79 - 2611 loaded, 98 empty, 11.5 hours layover/demurge/breakdown, 7 day sleeper, 2 live unload, 1 live load

As IC:
Settlement 1 05/08 $2738.84 - local work and system run to WI, after fuel and deductions
Settlement 2 05/15 $790.91 - Two short system runs totaling 1126 miles, after fuel and deductions
Settlement 3 05/22 $3821.20* this includes a run that was picked up 05/22. Stripping it out brings the net total to $2404.66

IC's get paid based on when something ships and is hooked up to. So if I pick up a load on Sunday, my percentage gets added to that weeks settlement.

Rate per mile avg across 3 settlements = $1.51
Avg FSC across 3 settlements = $0.30
Total avg Rate = $1.81**
**doesn't include extra dead head (avoiding tolls or routing to a different terminal than was rated)

 

Thats the computed miles, so figure +/-5% to get actual hub. It's usually closer to 2% difference, for example I did a run from Harvey IL down to Pasadena, rated miles 1079 loaded and 5 empty, paid $1.93/mi . I drove 1104 miles total for that run.

 

I won't bite


Final Settlement is in for May. I started 05/09 and ended 05/26, 17 days running system. Total gross was $12,190.64 and 7280 odometer miles, works out to $1.67/mi. That includes me deadheading home from upstate NY, an extra 300 miles over the load rate.

For June I'm going to have a bit of downtime for truck related issues and I plan on doing mostly out-n-back or local dedicated heavy haul in the meantime.

 

Here's a screen grab of my spreadsheet I'm using. Missing from the variable costs are two items I haven't been invoiced for yet which would actually bring it to a negative.