LianGuaintera Cryptocurrency Compensation Report 88% of practitioners work remotely, with executive salaries exceeding $5 million.

88% of practitioners in the LianGuaintera Cryptocurrency Compensation Report work remotely, with executive salaries exceeding $5 million.

Author: LianGuaintera Capital Translation: Luffy, Foresight News

As a founder or builder of cryptocurrencies, have you ever wondered how the overall cryptocurrency compensation will be in 2023?

We conducted the largest-scale salary survey in the blockchain industry to date, with more than 1,600 respondents from 77 countries/regions. Here are some interesting findings:

1. Remote work: The vast majority (88%) of cryptocurrency builders participate in work remotely.

• Where is the total circulation of over 120 million Ethereum?
• GPT-4 is too costly, Microsoft can’t sustain it anymore, and it is reported to have quietly initiated Plan B.
• Cooperating with TON, Tencent wants to help Telegram create an ‘international WeChat’?

Considering the global nature of the cryptocurrency movement, this result is not surprising… and remote work has become one of the attractive aspects of cryptocurrency work, especially as other tech companies return to the office.

2. Engineer Compensation: If you are a software engineer in North America considering a transition to cryptocurrencies, you should know that the income of senior crypto engineers is higher than their Web2 counterparts, with an average salary (note: mentioned salaries are annual salaries) of $193,000.

As a cryptocurrency builder, have you ever wondered how much salary to pay to engineers? We analyzed the average and median salaries of global Web3 engineers.

3. Cryptocurrency Compensation: One-fifth of respondents’ salary allocations include cryptocurrencies.

The median token value (initial allocation) in the salary package for non-executive positions worldwide is $89,000.

For executive positions, the median token funding is $1.3 million, with the highest exceeding $5 million!

4. Cryptocurrency Lock-up Period: The 4-year lock-up period still dominates like in traditional industries, but we believe that we will see more 3-year lock-up periods in the next few years.

5. Executive Compensation: For seed-stage Web3 company executives, the average compensation is $147,000; for Series A Web3 company executives, the average salary is $206,000.

From 2022 to 2023, we found that the wages of junior engineers (1-3 years of experience) decreased by 8%, the wages of mid-level engineers (3-6 years) also decreased by 4%, but the wages of senior engineers (6 years and above) increased by 1.5%.

6. 97% of people receive their basic salary in fiat currency. The remaining 3% receive it in cryptocurrencies, with USDC being the most popular choice.

In countries with high inflation rates such as Argentina and Turkey, the phenomenon of receiving wages in cryptocurrencies is more common.

The reality is that there are not enough tools for businesses to pay wages using USDC or other cryptocurrencies. We need more tools like this.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!