Paying top dollar, developers are thriving in the quickly changing field of Web3 development, where decentralized apps and blockchain technology are leading the way in innovation. According to a recent analysis by Pantera Capital, the median compensation for Web3 engineers in 2023 will be $128,000. The survey also provides insight into the wages of various professions within the sector.

The poll gathered opinions from more than 1,600 participants in 77 nations and brought attention to regional differences in pay for Web3 developers. The highest-paid region was found in North America, where the median salary for Web3 engineers was $166,610. The part of Latin America had the highest median wage at $90,559, followed by Asia-Pacific at $75,000, and Europe, the Middle East, and Africa (EMEA) at $102,226, respectively.

Sector Allocation

The Web3 environment spans numerous industries, and the main distribution of responders is as follows:

Finance Decentralized (DeFi): 40.1%
Finance Centered: 26.1%
Infrastructure for Blockchain: 15.2%
Salary ranges for several Web3 sector occupations were also covered in the poll.

Pay Grades for Each Role

In the Web3 industry, salaries for roles in finance, business development, and product operations were found to be comparable to those of Web3 developers. Given the specific skills needed, these positions paid competitive median wages.

However, it was discovered that junior roles in Web3 marketing and operations offered less than $66,000, with these occupations having smaller salary ranges. It is noteworthy that, even with the lower beginning salary, these positions have a great deal of room for growth as long as the Web3 ecosystem keeps growing.

Salary levels for Web3 executives differed according on the company’s stage. Starting salaries in the US varied from $147,363 for seed startups to $335,400 for more established companies that have completed Series C investment rounds.

Chosen Payment Methods

It should come as no surprise that 97% of respondents said they received their salaries in fiat currency. Nonetheless, a noteworthy 3% choose to obtain their profits in cryptocurrency, highlighting the growing utilization of digital assets in the Web3 domain.

It is anticipated that as the Web3 ecosystem develops and grows, compensation for a variety of positions will change to keep up with the increasing need for skilled workers. For those wishing to pursue a career in the field of decentralized technologies, the sector’s rapid growth and innovation are likely to maintain competitive salaries.

The results of this poll offer insightful information about the pay structure of the Web3 industry in 2023, highlighting the prospects and earning potential in this exciting and quickly growing area.