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A typical Web3 developer has a median salary of $128,000 in 2023.
According to a recent survey by Pantera Capital, the highest Web3 engineer salaries were reported in North America at $166,610, followed by $102,226 in Europe, Middle East and Africa, $90,559 in Latin America, and $75,000 in the Asia Pacific Region. The survey featured over 1,600 respondents across 77 countries; 40.1% of respondents worked in the decentralized finance (DeFi) sector, followed by centralized finance (26.1%) and blockchain infrastructure (15.2%).
Less than 2% of developers surveyed said they worked in a physical office space full-time, while 10.6% said they worked in a hybrid in-person/remote work environment. The remaining 87.8% said their work was fully-remote.
In the U.S., junior and intermediate-level Web3 developer salaries fell by 4-8% within the past year to between $110,000-$150,000. Meanwhile, compensation for senior-level developers grew by 1.5% to $192,585 during the same period.
Similar salary levels were reported for finance, business development, and product operations positions. Salaries for Web3 marketing and operations experts were among the lowest, with less than $66,000 for junior positions in such roles. As for Web3 executives, starting salaries in the U.S. range from $147,363 for seed startups to $335,400 for firms beyond Series C funding. Ninety-seven percent of all respondents were paid in fiat currencies, with the remainder electing to receive their salaries in crypto.
On top of regular remuneration, one in five individuals surveyed said they received a token incentive package averaging $50,000 from seed companies to $130,000 for Series C+ firms. Such token incentives typically have a vesting schedule lasting over four years. The Pantera data will be updated every six months, the firm says.
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