need advice-should I stay or should I go?

Thanks ya'll. I'm glad to see encouragement here...and the reality of it is good to see also. Aside from the truck purchase price, what would you suggest any new O/O to start with financially? I don't even have 10K right now(just bought a house and savings went *poof* for the most part). Great idea about going back with my current company as an O/O later on. Never considered that. I think the suggestions about going with a new company for the time being...are a good one. I just am not gaining much ground here. Man it's depressing considering the work I put in, but here's a breakdown of things. At the risk of getting too personal, I get .34cpm straight pay, no bonuses, no paid holidays, 1 week vacation after 1 year, layover somewhat regularly, and detention rarely. I will gross approx $43K this year...down 9K from the previous year. A lot has changed in the last year. It's a reefer outfit and I chose them out of convenience.

I have a line on another company(15 trucks) that does reefer, dryvan, and flatbed/stepdeck, but they pay by percentage. I've never been on percentage, so I'm not sure if this is a good idea. Also not sure about the stability of a smaller company, but they've been in business for 11 years so they must be doing well. They pay 25% of the linehaul and their operating area is midwest only. That's a shorter haul than I'm use to, and with percentage, maybe there's some good money to be made. Any thoughts about percentage based pay?

 

Well, I hope it's not being derailed. I want to stay on topic somewhat...but yeah man, glad someone got the thread title reference. Great song!

Should have been more specific. This would be a company driver position that I'd stay at while I build up capital for when I decide to get my own truck. I've already talked with the main guy there and told him of my plans. I don't like to job-hop, but I also have to go where the money is at. I think anyone can understand that.

 

I agree. Fresh out of trucking school in '07, I was making .34 with Crete...the same as I am 10 years later. I've talked with the owner of this other company that pays percentage and made it clear(though as tactfully as possible) that the main reason behind this move is to make more money. I really hope things work out because I'd hate to quit a new company after being there for such a short time(if it doesn't work out)...but I have to do what I can to better my situation.

I was hoping you'd reply! I was going to talk to a couple O/O that I know somewhat well, but after getting the feeling that I have quite a while to go before I'm financially ready to get my own truck, decided against it and am focusing on finding a better company driver position for now. Also, in our talk yesterday with the owner of this other company, stated that they have a few owner ops and would accept me and even help me transition into an owner op(though he didn't get specific on how he'd help). It's nice to know that they're willing to work with me.

Also, what would you suggest a new owner op start with financially? Aside from the initial truck purchase price and down payment, what would be a good amount to have in the bank ready to go for getting the truck legal and be able to cover any unforseen expenses? Am I far off base with thinking 15-20K would be a good cushion amount?