97% of Web3 developers are paid in fiat currencies. The average salary level among them amounted to $128,000 in 2023.
The absolute majority of Web3 developers prefer to receive their compensation in fiat currencies. This was revealed by Pantera Capital specialists, who presented a report on the results of a comprehensive sociological study among blockchain developers. In total, more than 1,600 professionals from 77 countries took part in the study.
The distribution of the surveyed specialists in different segments of the Web3 industry is as follows:
- DeFi — 40.7%;
- CeFi — 26.1%;
- Infrastructure — 15.2%;
- Gaming — 9%;
- NFT — 6.4%;
- Consumer — 1.7%;
- Venture Capital — 1%.
The majority of developers work for companies that are in the Series C+ (37.7%), Series A (33.2%), and Series B (14%) stages of investment attraction.
Among those surveyed, 40% were senior-level employees with 6+ years of experience, 30% were middle-level specialists with 3-6 years in the field, and the remaining third were juniors with less than 3 years of experience. In the U.S., salaries for Web3 junior and mid-level developers have fallen 4-8% over the past year. At the same time, compensation for senior-level developers has increased by 1.5%.
The average salary level among respondents in 2023 amounted to $128,000. The highest salaries are received by specialists in North America — $166,600, the lowest — $75,000 in the Asia-Pacific region. In the Web3 sphere similar salaries are received by specialists in finance, business development and product managers. The highest salaries are for specialists holding top management positions, the lowest — for marketers and account managers.
In addition to salaries, every fifth respondent reported receiving a tokenized incentive package of digital assets, valued on average from $50,000 from companies at the pre-seed stage to $130,000 from firms undergoing a series of C+ investments. The tokens in these incentive packages typically include a rights transfer schedule of more than four years.
Among the interesting findings of the study is the fact that only 1.6% of Web3 developers are full-fledged office employees. Among the rest, 10.6% perform their duties partially remotely and 87.8% work fully remotely.
According to last year’s study, almost 60% of Web3 project employees are under 30 years old.
