Pantera Crypto Salary Report: 88% of employees work remotely, and executive salaries exceed $5 million
Original author: Pantera Capital
Original compilation: Luffy, Foresight News
As a cryptocurrency founder or builder, have you ever wondered: What will the overall picture of cryptocurrency compensation look like in 2023?
We conducted the blockchain industry’s largest salary survey to date, with more than 1,600 respondents across 77 countries. Here are some interesting results we found:
1. Remote work: The vast majority (88%) of cryptocurrency builders work remotely.
This result isn’t surprising given the global nature of the cryptocurrency movement…and as other tech companies return to offices, remote working becomes one of the attractions of working in crypto.
2. Engineer salary:If youre a software engineer in North America and considering a move to cryptocurrency, you should know: Senior cryptography engineers earn more than their Web2 counterparts, with an average salary of $193,000.
Have you ever wondered how much engineers are paid as a cryptocurrency builder? We analyzed the average and median salaries of Web3 engineers worldwide.
3. Cryptocurrency compensation: One-fifth of respondents’ salary allocation includes cryptocurrencies.
The median token value (initial allocation) in salary packages for non-executive positions globally is $89,000.
For executive positions, the median token grant was $1.3 million, with the highest being over $5 million!
4. Cryptocurrency lock-up periods: 4-year lock-up periods are still as dominant as traditional industries, but we think we will see more 3-year lock-up periods in the coming years.
5. Executive salary: The average salary of executives of Web3 companies in the seed stage is US$147,000; while for the executives of Web3 companies in the A round, the average salary is US$206,000.
From 2022 to 2023, we find that the salary of junior engineers (1-3 years of experience) will decrease by 8%, and the salary of mid-level engineers (3-6 years) will also decrease by 4%, but the salary of senior engineers (6+ years) will decrease by 8%. Wages rose 1.5%.
6. 97% of people receive their basic salary in fiat currency. The remaining 3% are paid in cryptocurrencies, with USDC being the most popular choice.
Paying wages in cryptocurrencies is more common in countries with higher inflation rates, such as Argentina and Turkey.
The reality is that there are not enough tools that enable businesses to pay wages in USDC or other cryptoassets, and we need more of them.
