Nussbaum Transportation has rolled out what it calls the largest compensation update in company history, raising driver pay and adding new incentives aimed at attracting and retaining over-the-road drivers.

The changes apply to irregular-route OTR van drivers, with the largest increases targeted at drivers based in key hiring areas including: Carbon Cliff and Chicago, Ill.; Kenosha, Wis.; Indianapolis, Ind.; and Columbus, Ohio.

“Our professional drivers set Nussbaum apart by living our Vision and Values in a job that can be quite challenging,” said Bill Wettstein, president of Nussbaum Transportation. “They deserve this pay increase, and we are excited for them to continue sharing in the value that their hard work and dedication have created.”

Current OTR drivers received a three-cent-per-mile raise along with a $50 increase to the company’s weekly minimum pay guarantee. New hires will start five cents per mile higher than earlier this year, along with a $100 increase to the weekly guarantee. Drivers hired in key locations will receive an additional increase, totaling 10 cents more per mile and a $200 higher weekly guarantee.

The carrier also introduced a $3,000 transition bonus for new hires, paid within the first six months.

Drivers will now participate in quarterly profit-sharing payments tied to company performance. Nussbaum said the payouts could average about two cents per mile annually in a typical year and exceed four cents per mile during stronger years.

The company also doubled its “Early Exit Option” payment from $1,000 to $2,000. The program provides transition assistance to new hires who decide within 90 days that the company is not the right fit.

Nussbaum said new irregular-route dry van hires can expect to earn $81,000-$92,000 in their first year, depending on experience, while drivers in key hiring markets could earn $86,000-$95,000 in year one and exceed $100,000 by year two.

Before the latest increases, the company said the top 30% of its OTR drivers were already averaging $100,000 annually.