Yeah, the soldiers drop separately. You would have to be absolutely certifiably nuts to agree to jump inside a vehicle. They used to berm in a couple vehicles a year in training drops. I can't find it on google, but my cousin(from the 82nd) showed me a picture a while back of a Sheridan whose parachutes didn't deploy. It somehow landed right side up and if you only looked at the turret, you would think everything was okay. But then you realized that the turret was basically sitting on the pallet. The entire hull and suspension of the Sheridan had collapsed down to about 6 inches high. The turret of the Sheridan was steel but to save weight, the hull of the Sheridan was aluminum and just completely compressed down like a soda can......
Like I said you would have to be crazy to jump in one. I am pretty sure that some of the soviets used to jump in their BMDs(armored personnel carrier), these used a retrorocket system to slow the vehicle as it approached the ground. I can't imagine what the failure rate was for that....