Web3 Developers' Median Salary Stands at $128k in 2023: Pantera Capital Survey
Summary:
The Pantera Capital survey reveals the median salary of a Web3 developer stands at $128,000 in 2023, with the highest in North America at $166,610. Most respondents worked remotely and in the decentralised finance sector. Whereas junior and mid-level US-based Web3 developers saw a 4-8% salary decrease, their senior counterparts had a slight increase of 1.5%. Web3 marketing and operations roles paid less, under $66,000 for junior roles. Executive level starting salaries ranged from $147,363 for seed startups to $335,400 for firms beyond Series C funding. The majority received payment in fiat currencies, and one in five reported receiving a token incentive package.
The median income for a Web3 developer in 2023 sits at around $128,000, according to new research from Pantera Capital. The comprehensive survey, which sought responses from over 1,600 individuals across 77 nations, discovered top Web3 engineering salaries were found in North America, peaking at $166,610. They were followed by salaries in Europe, the Middle East, and Africa, at $102,226, Latin America at $90,559, and the Asia Pacific region, where the figure was $75,000.
Significantly, 40.1% of the survey participants are employed within the decentralized finance (DeFi) sector, while 26.1% work in centralized finance and 15.2% in blockchain infrastructure. Under 2% of respondents revealed they were full-time office-based, 10.6% follow a blended in-person/remote working pattern, and a massive 87.8% affirmed full-time remote working.
For U.S. junior and mid-level Web3 developers, 2022 saw a salary reduction of between 4-8% to a range of $110,000-$150,000. Conversely, earnings for senior professionals witnessed a modest increase of 1.5% to $192,585. Similar pay scales were identified across finance, business development, and product operations sectors. However, Web3 marketing and operations roles offered less lucrative salaries, with junior positions paying under $66,000.
At the executive level, U.S. Web3 starting salaries varied largely based on company growth stage, from $147,363 for seed startups to $335,400 for enterprises beyond Series C funding level. Only three percent of respondents received their wages in cryptocurrencies, the overwhelming majority - 97% - preferred traditional fiat currencies.
As an added financial benefit, one in five survey respondents reported receiving a token incentive package, with an average value between $50,000 for seed companies and $130,000 for series C+ establishments, generally vested over four years. The good news is Pantera Capital will keep us informed about such data semi-annually.
Published At
9/28/2023 4:07:00 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.