Full-time UPS drivers will earn $170,000 a year, on average, in new contract, CEO says
Full-time UPS drivers will earn $170,000 a year, on average, in new contract, CEO says
Full-time UPS drivers could earn an average of $170,000 under the tentative contract between the Teamsters and the shipping giant, UPS' CEO said.
Full-time UPS drivers will earn an average of $170,000 in annual pay and benefits at the end of a five-year contract agreement, UPS CEO Carol Tomé said during an earnings call Tuesday.
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It’s nowhere near that. Their benefits are paid by the teamsters/dues. Their pay raises from their current top rate is here on page 41. https://teamster.org/wp-content/uploads/2023/08/UPDATED-ENGLISH-BLACKLINE-MASTER-TA-8.5.23.pdf
The Top Rate shall be $35.94 plus the general wage increases provided in Section 1 above.
Increases are:
- 2023 two dollars and seventy-five cents ($2.75)
- 2024 seventy-five cents ($0.75)
- 2025 seventy-five cents ($0.75)
- 2026 one dollar ($1.00)
- 2027 two dollars and twenty-five cents ($2.25)
So that means in 2027, it'll be $43.44/hour, which at 40 hours a week comes to $90,355.20/year. To reach $170k/year, they'd have to work 75.26 hours a week, I know drivers do a lot of OT, but I'm not sure about that much!
Edit: To put more perspective on this, 170k/year at 40 hours is $81.73/hour, not too far from double their $43.44/hour
The $170k number is total compensation, including health insurance, dental, etc
Wow this headline is shit, get this comment up there
If the top actual PAY is about $75k/yr, then are they getting $100K/yr in benefits? WTF benefits could cost that much? Are they flying everyone to the Mayo Clinic for checkups every year? Gold toilets? wtf?
Theyre adding every single little thing that they can to reach that value. 401k matching, employer's health insurance, vision, dental, paid time off, those are all big easy ones. But they probably have idiotic values for all the fine print benefits too. Think of free legal advice, financial advice, personal counseling, reimbursements for education opportunities, travel, uniform cleaning, etc etc.
Should it all add up to 100k and be boasted about? No... But of course they will anyway.
My company used to also include social security and Medicare taxes in my "benefits". They also included things like "office space" and other things I had to have for work like my work computer.
It made it rack up to a ridiculously high number.
Man, that’s a lot of words. If I read it right, the base rate for a full time driver with more than 4 years in the position is $35.xx/hr. With most good benefits packages in the 20-40k range, and allowing for a few adjustments, I’m guessing that the 170k is probably something like 2600-3000 hours a year. Most 40hr jobs with benefits are only about 1850-1900 hours/yr, including holidays and paid leave.
gl keeping people for 4 years, they're probably going to pull some shady shit and make it absolutely miserable from management side.
It’s actually 40 something now. If you pull the UPS Teamsters National Agreement for 2018-2023 there’s cost of living language in there that put them over $40. So let’s call it $50, plus the $2.50 raise that was just negotiated is $52.50. $52.50x40=$2100.00 x 52 = $109,200. Factor in benefits if you’d like on top of that.
That’s about in line with what I figured. Iirc they are all hourly, not salaried, and there are (anecdotally) very few weeks that are under 40 hours. 170k less $30k in benefits (ex- my fam healthcare for 3 ppl costs me $22k/yr - add disability, life, retirement contributions…) is 140k in direct pay. At $50/hr, that’s 2800hrs.
This is the same shit my place is going through right now (we find out if it will be ratified today actually) we don’t have any paid sick days and the new cba has a whopping 3 in there, the company is tacking that on as more money in your pocket like as if it’s somehow more per hour