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Started By
Message
How much should a company truck affect your salary?
Posted on 9/26/23 at 6:44 am
Posted on 9/26/23 at 6:44 am
I was recently offered a position with a company that said a company truck was included in the deal if I chose to accept it.
I was told that the incentive of having a company truck was worth the same as being paid $10/hr more. I don't know if I'm convinced if that is completely accurate or not.
I've always had company vehicle and it was never mentioned as being part of my salary or affecting my salary.
Thoughts?
I was told that the incentive of having a company truck was worth the same as being paid $10/hr more. I don't know if I'm convinced if that is completely accurate or not.
I've always had company vehicle and it was never mentioned as being part of my salary or affecting my salary.
Thoughts?
44
Posted on 9/26/23 at 6:45 am to NatalbanyTigerFan
I think it used to be somewhere around $10k but would have to think it's closer to $15k annually now
Posted on 9/26/23 at 6:46 am to NatalbanyTigerFan
If you don't own a vehicle at all $5 an hour maybe?
Posted on 9/26/23 at 6:47 am to NatalbanyTigerFan
It better be north of $10,000 with today's truck prices
Posted on 9/26/23 at 6:48 am to NatalbanyTigerFan
It’s absolutely part of your overall compensation. As to how much is it worth, the average truck note is >$1,000/month now, so with insurance and gas and maintenance, that’s what, $1,600/month minimum? That’s almost $19,000/year.
40 hours per week, 50 weeks per year, +$10/hr, 40x50x10= $20,000.
So yeah, a company truck is worth in the ball park of $10/hr.
That said, I’m typically not taking a pay cut to a job with a company vehicle
40 hours per week, 50 weeks per year, +$10/hr, 40x50x10= $20,000.
So yeah, a company truck is worth in the ball park of $10/hr.
That said, I’m typically not taking a pay cut to a job with a company vehicle
Posted on 9/26/23 at 6:49 am to NatalbanyTigerFan
I would never look at it as part of my salary, unless I was some sort of executive and the car was truly just a perk. If they give you a vehicle it’s because you’ll have to drive for work, and they should be paying for that. You also can’t use a company car like a personal car.
This post was edited on 9/26/23 at 6:50 am
Posted on 9/26/23 at 6:49 am to NatalbanyTigerFan
What’s the incentive of having one?
Posted on 9/26/23 at 6:50 am to NatalbanyTigerFan
Theoretically that’s a 1600$ a month, plus insurance, incentive. If they’re telling me they’ll pay be 1600 a month more I’m taking the cash.
Posted on 9/26/23 at 6:50 am to NatalbanyTigerFan
If they are paying vehicle, insurance, and fuel it's anywhere from $800-$1200/month
This post was edited on 9/26/23 at 6:51 am
Posted on 9/26/23 at 6:51 am to NatalbanyTigerFan
Depends on what you can do with the truck, home to job about $8k, can take it to the camp about $16.
Posted on 9/26/23 at 6:51 am to Mo Jeaux
quote:
What’s the incentive of having one?
Basically, free fuel, tires and maintenance.
Posted on 9/26/23 at 6:52 am to NatalbanyTigerFan
What kind of truck baw?
Posted on 9/26/23 at 6:53 am to NatalbanyTigerFan
I love company trucks. It prevents people who drive trucks from driving like total douchebags since they have the company name on the side.
Posted on 9/26/23 at 6:54 am to Gifman
quote:
What kind of truck baw?
2023 Chevy Silverado Custom. Any color I want as long as its white. Posted on 9/26/23 at 6:56 am to NatalbanyTigerFan
how much is the equivalent Lease rate on the truck they are offering?
say the lease is worth $1000/mo, that $12k/yr plus insurance and maintenance that they cover.
say that is another $3k/yr.... or $15k/y (about $7.21/hr)
$10/hr seems high... but it does have a tangible value
plus the company is not paying labor burden on the truck like they would on salary (that could be around 28%)
say the lease is worth $1000/mo, that $12k/yr plus insurance and maintenance that they cover.
say that is another $3k/yr.... or $15k/y (about $7.21/hr)
$10/hr seems high... but it does have a tangible value
plus the company is not paying labor burden on the truck like they would on salary (that could be around 28%)
Posted on 9/26/23 at 6:57 am to Oilfieldbiology
quote:
It’s absolutely part of your overall compensation. As to how much is it worth, the average truck note is >$1,000/month now, so with insurance and gas and maintenance, that’s what, $1,600/month minimum? That’s almost $19,000/year.
40 hours per week, 50 weeks per year, +$10/hr, 40x50x10= $20,000.
So yeah, a company truck is worth in the ball park of $10/hr.
That said, I’m typically not taking a pay cut to a job with a company vehicle
Issue is you don't own it, so I'd use lease numbers as a comparison.
Also, I would be shocked if they were cool with you driving your company car for private business, which massively lowers the benefit.
This post was edited on 9/26/23 at 6:59 am
Posted on 9/26/23 at 6:59 am to NatalbanyTigerFan
Only time the amount has come up was when I had a monthly truck allowance.
At the time, my truck was fully paid off so I liked the monthly check to throw into savings.
If I was given a work truck, the worth of having it never came up
At the time, my truck was fully paid off so I liked the monthly check to throw into savings.
If I was given a work truck, the worth of having it never came up
Posted on 9/26/23 at 7:01 am to LoneStar23
quote:I've been driving I-12 from Hammond to BR for 20 years and I strongly disagree
love company trucks. It prevents people who drive trucks from driving like total douchebags since they have the company name on the side.
Posted on 9/26/23 at 7:03 am to NatalbanyTigerFan
irs.gov PUCA (Personal use company automobile)
It’s a taxable benefit
It’s a taxable benefit
Posted on 9/26/23 at 7:04 am to Lima Whiskey
quote:
I would never look at it as part of my salary, unless I was some sort of executive and the car was truly just a perk. If they give you a vehicle it’s because you’ll have to drive for work, and they should be paying for that. You also can’t use a company car like a personal car.
What is the perk of having the vehicle if you cannot use it for personal use? Does the company require you to be on call 24x7 and want you to have the vehicle to provide services to customers?
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