The dynamic field of Web3 development, known as the decentralized internet, recently revealed a median salary benchmark for 2023. Standing at around $128,000, this figure is primarily drawn from a recent survey conducted by Pantera Capital. The survey drew on responses from over 1,600 respondents operating in 77 countries, with the highest engineer salaries reported in North America at a significant $166,610. This was followed by Europe, the Middle East, and Africa (approx. $102,226), Latin America ($90,559), and Asia Pacific Region ($75,000).
Diving deeper into the survey data, it’s interesting to note that the vast majority of the Web3 workforce operates outside the bounds of traditional office spaces. A small 2% still clung to full-time office work, while 10.6% adopted hybrid working arrangements. But the dominant 87.8% of respondents were enjoying the benefits of full-time remote work.
However, the shine dulled a little with the accompanying revelation that junior and intermediate-level developer salaries in the U.S. saw a dip of 4-8% within the past year. This brought the salary range to a slightly lacklustre $110,000-$150,000. On a brighter note, senior-level developers enjoyed a minimal increment of 1.5% to their compensation, pushing it up to $192,585.
As one flips through the employment levels, the survey also uncovers similar salary levels across finance, business development, and product operations positions. Yet, the survey brought some unsavoury news for Web3 marketing and operations experts. These professionals fall at the bottom of the pay hierarchy, taking home less than $66,000 for junior positions.
The survey also shares some intriguing insight into the remuneration patterns at Web3 tech firms. With a strong 97% of respondents choosing to receive their salaries in fiat currencies, it pushes the emerging reality of crypto payments to the sidelines. A pulse-raising addition to the regular income was token incentive packages. With the value averaging between $50,000 to $130,000, this considerable addition to the salary package is bound to carve a smile on one’s face.
Source: Cointelegraph
