According to a survey published on Tuesday covering 49 crypto portfolio companies in 2023, US-based cryptocurrency firms tend to provide higher salaries and more generous equity and token packages compared to their international counterparts. On average, US crypto salaries surpass those abroad by 13%, with equity and token packages being 30% more lucrative.
The survey data indicates that entry-level crypto engineer positions in the US command salaries ranging from $105,000 to $154,000, whereas similar roles overseas offer compensation between $86,000 to $136,000.
For founders of seed-stage startups, US-based executives typically receive around $143,900, slightly exceeding the compensation of their overseas counterparts, who receive approximately $140,000. However, as startups progress to the Series C level, US founders have the potential to earn up to $300,000.
— Zack Skelly (@zorkary) March 19, 2024
Salary Adjustments Reflect Different Practices Across Company Growth Stages
The survey also found that three-quarters of all companies, regardless of size, stage, or funding, were hiring talent from outside the US. While US-based companies hiring domestically often do not adjust salaries based on the cost of living, those hiring internationally are evenly divided in their approach, with half adjusting salaries and the other half not.
Notably, the majority of companies, especially in their early stages, tend not to adjust salaries for the cost of living. However, as companies mature, it becomes more common for them to consider such adjustments.
Preference for Fiat Payment, but Crypto Payment More Prevalent Overseas
Although most companies prefer fiat currency for payments, overseas companies often pay employees with crypto, particularly USDC, to streamline cross-border transactions, mitigate exchange rate fluctuations, and capitalize on tax considerations in certain jurisdictions.
Additionally, overseas companies are generally more open to adopting tokens, with a higher proportion already utilizing or planning to introduce them. In contrast, US-based companies exhibit more reluctance, with many opting not to pursue tokenization initiatives. This discrepancy may stem from differences in regulatory environments, with the US perceived as having stricter regulations compared to jurisdictions like the EU, leading to hesitancy among US firms regarding tokenization efforts.
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