Major Incentives for CDL Drivers in Maryland
A transportation and logistics company based in Maryland is providing substantial incentives to attract qualified CDL drivers amidst significant industry challenges.
Cowan Systems, which currently employs about 1,700 drivers, is offering a signing bonus of $15,000 to all new drivers, with some qualifying for bonuses as high as $20,000.
Drivers with at least one year of documented experience or a hazardous materials endorsement can earn up to $17,500, while those who have both qualifications are eligible for the maximum bonus.
According to Steve Wells, Cowan’s chief operating officer, “New drivers will receive more than half of their total bonus within the first six months. This isn’t a sign-on bonus that pays tiny amounts over several years. Professional truck drivers who join us can expect their full payout in under 18 months.”
The base bonus constitutes nearly a third of the average truck driver’s salary, which is approximately $47,130. Interested drivers must submit their applications by October 1 to be eligible for the full bonus amount.
While Cowan’s incentives might resemble trends seen during pandemic-related labor challenges, the trucking industry has been facing such issues for many years.
In fact, although Cowan’s bonus structure is ambitious, it has been attempted previously—with limited success. In 2018, the CEO of Smokey Point Distributing stated that $20,000 bonuses failed to entice new drivers effectively. Currently, the trucking industry employs 1.8 million people, but a trade organization estimates that around 60,000 additional drivers are needed, with projections indicating that the shortfall could exceed 160,000 by 2028.
