According to CoinDesk, a study by digital-asset investment firm Pantera Capital reveals that 97% of employees in the cryptocurrency industry receive their base salary in government-issued currencies, while only 3% are paid in crypto. The 2023 compensation data was based on 1,046 responses. Among those who received payment in crypto, the majority opted for the dollar-linked stablecoins USDC and USDT, with 13% choosing bitcoin (BTC).
The study found that the median pay globally among 570 engineers surveyed was $120,000, with those in North America earning $193,000, up 1.5% compared to the previous year. This is higher than the estimated $166,100 for engineers in traditional tech or 'Web2' roles. The report also noted that approximately 88% of roles in the crypto industry are remote, compared to an estimated 28% in Web2 roles.
Executives in the crypto industry earn between $147,363 and $335,400, depending on their companies' stage. One in five respondents reported receiving an initial package of token incentives, averaging $89,000 for non-executive positions and $1.3 million for executives. However, the actual values of these packages can fluctuate significantly due to the volatility of crypto markets.
