US crypto engineers are the highest paid in the world, study reveals

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New research has indicated that despite the extension of the cryptocurrency bear market, engineers in the industry are still earning a marginally high salary compared to their peers in the tech space. However, crypto engineers in some regions earn more than their counterparts.

In particular, in 2022, engineers in the United States and Canada earn an average salary of $177,653 while the region’s median salary stands at $165,500, according to a study by Pantera Capital published on December 6.

The average salary for European blockchain developers is $112,476, with the median salary standing at $93,870. The median salary in Asia is $85,000. Interestingly, Asian engineers earn half as much as their North American counterparts at $70,919 on average.

Global Blockchain Salaries

Additionally, the research reviewed the average base salary for India, where blockchain engineers earn an average of $68,310, with a median package of $23,293. The results also noted that the global average Web3 and blockchain base salary stands at $128,606.

Global Crypto Engineer Salaries. Source: Pantera Capital

The results are based on 15 startups geographically spread across the crypto industry space, and the companies surveyed have a workforce of between five and 115 people, with an 87% majority based remotely. For engineers, the survey sampled feedback from 224 crypto engineers worldwide.

On average, professionals in the crypto-asset industry earn significantly more than their Web2 peers. <…> We recognize that salaries are changing rapidly in the Web2 space, and we know first-hand that Web3 salaries tend to change even faster, the researchers said.

Influence on Crypto Trading

In this case, the study noted that the establishment of crypto businesses in Asia and Europe could be due to the affordability of labor. The researchers pointed out that the variance in crypto industry salaries could inform which regions companies in the space prefer the most.

At the same time, cheap labor in the Asian market is forcing developers to look for overseas opportunities, mainly taking advantage of the shift to remote working.

Elsewhere, the bear market does not appear to have deterred interest in crypto-related businesses. Along these lines, a Findbold report from July indicated that around 50% of gig workers prefer to be paid in cryptocurrencies.

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