Are you curious about how much money Web3 developers are making in 2022?
Perhaps you’ve been toying with the idea of transitioning into the Web3 space, not only because it’s obviously the future but also because you heard how high the average Web3 developer salary is?
Well, good thing you found this article because we’ve collected all of the information you’re looking for.
In this guide, you’ll find out exactly how much Web3 developers are making and what factors impact the level of Web3 developer salaries.
Let’s dive right in.
Key Points (tl;dr)
- Web3 developers are a new breed of software engineers that specialize in building decentralized web applications that interact with one or more blockchain networks.
- The core concepts of Web3 are fundamentally different from how web-based products are built today. Decentralization, trustlessness, permissionless networks, and native web payments have never played a role until today.
- Although more and more developers are diving headfirst into Web3, the global pool of talent is still very limited. That is also the primary reason why the average Web3 developer’s salary is considerably higher than others.
- That being said, there are considerable differences among Web3 jobs as well. Factors that affect the average compensation of a Web3 developer include specialization of the specific role, location of the company and candidate, and the professional track record of the developer.
- In most cases, Web3 Developers can earn from $70,000 to well over $350,000 per year.
For a detailed overview of Web3 developer salaries for different job roles, PLEASE READ THE FULL ARTICLE.
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Shocking Stats: Web3 Developer Salary in 2023
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Here’s the answer. Great article by @ChrisHeidorn right here: https://tokenizedhq.com/web3-developer-salary/
What is a Web3 Developer?
Web3 developers are specialized in building decentralized applications (dApps) that are in line with the core concepts of Web3: Decentralization, Trustlessness, Permissionless Access, and Web-Native Payments. A critical component of dApps is the use of blockchain technology.
We’ve all heard the stories about how the original Web eventually evolved into Web 2.0 somewhere around the year 2000.
Previously static websites that were only meant to be read suddenly became dynamic and were able to process user input.
On a superficial level, most developers understand that the internet is in the process of transforming into what has been coined “Web3”.
But what exactly does that even mean?
You know that it has something to do with blockchains and cryptocurrency, but is that really the whole story?
Web3 is not a single technology or concept but rather a collection of different ideas, concepts, and technologies that enable a different version of the internet.
Some of the concepts include:
- Decentralization
- Trustlessness
- Permissionless Access
- Web Native Payments
Some of these concepts may seem vague but others probably make total sense, such as native payments.
Just imagine a world where you no longer have to rely on a central payments processor in order to accept payments.
Well, blockchains make that possible.
So what’s the role of the Web3 developer in all of this?
Well, many of the concepts mentioned above are very new and foreign to most people.
Most “conventional” developers have probably heard of the concepts, but not all of them believe in the Web3 ethos and even less actually understand the tech stack.
Web3 developers are at the forefront of this sea change and can help businesses navigate the path ahead.
Not only are they familiar with blockchains per se, but they also know how to write smart contracts that run on top of them.
So if you’re planning on creating a decentralized App (dApp), then you’re definitely going to need a Web3 developer to help you out.
Although the pool of Web3 developers grows with every bull run in the crypto market, they are still rare.
So it’s no surprise that the average Web3 developer salary is in the range of $70,000 to well over $350,000 per year.
In the next section, let’s look at some of the reasons why Web3 developers are paid so much.
Why is the Web3 Developer Salary so High?
Web3 concepts are still very new and very few people have acquired the necessary skills to build decentralized web applications. When demand for a specific skill set outpaces its supply, the price (or in this case the salary) will increase until it is no longer economical for the employer.
You must remember that Web3 encompasses a section of the tech industry that is completely new.
The difference between Web 2.0 and Web3 is not trivial and isn’t as simple as learning a new programming language.
Its origins are deeply rooted in the proliferation of the blockchain which is often confused with the cryptocurrency poster boy known as “Bitcoin”.
Let’s ignore the ideological debate around Bitcoin and cryptocurrency for a minute.
Web3 concepts are so fundamentally different from the way we do things today, that most people still have trouble imagining how they might impact our lives in the future.
And even if you do understand the concepts, you still need to learn how to use the tech stack, potentially even a strange Blockchain programming language such as Solidity.
These guys and gals are hard to come by and that’s why the average Web3 developer salary is so high.
According to a recent report, there were roughly 18,000 active Web3 developers in December 2021.
60% of them just started in 2021 and 20% of the new joiners chose Ethereum as their ecosystem.
Even though these numbers are considerably higher than they used to be, they are still a drop in the ocean compared to the market’s demand for developers with Web3 skills.
Just for context: There were roughly 27 million active software developers in 2021.
So what are you waiting for?
If you’re interested in Web3 and already have engineering skills, getting in early on the action might prove to be the best move you ever made.
What Factors Affect Web3 Developer Salaries?
Not all skill sets in Web3 are the same. The average Web3 developer salary can vary greatly depending the specialization of the role, the location of the job, as well as the experience and expertise required by the employer.
Although Web3 developer salaries tend to be considerably higher on average than those of other web developers, the full truth is a bit more nuanced.
What tends to get people’s attention are the insane headline numbers advertised on certain Web3 job boards where the upper end of the salary range is extremely high.
However, these are outlier cases and they do not properly represent the majority of Web3 developer compensation packages.
In fact, there are a number of factors that impact how much a Web3 developer can expect to earn.
Specialization
Just like in every other company, you need different types of people for different types of jobs.
Developing decentralized applications requires a wide range of different skill sets.
Some parts of the applications are more challenging and mission-critical than others.
For example, working on the core elements of a blockchain protocol usually requires a lot more experience than writing smart contracts.
And front-end web3 developers tend to have the easiest learning curve of them all because they usually just have to learn to use a new library.
So you see, not all Web3 developers are the same.
You can usually split them into 4 rough categories:
- Core Blockchain Developers: ~Salary of $170,000
- Blockchain or Smart Contract Developers: ~Salary of $85,000
- Full-Stack Web3 Developers: ~Salary of $100,000
- Front-End Web3 Developers: ~Salary of $74,000
Sometimes you’ll also see listings for NFT developer jobs, although in most cases, they fall into the same category as a Smart Contract Developer.
Location
Another major factor seems to be location, although it’s not entirely clear whether the location of the company or the location of the developer is the defining characteristic.
Generally speaking, companies that are located in the United States, and California in particular, seem to pay a higher Web3 developer salary than those in the rest of the world.
This isn’t particularly surprising because the cost of living is considerably higher in those locations and some of the best-funded startups are located there.
However, it’s difficult to say whether they also would offer a candidate from India the same Web3 developer salary if they are working remotely.
Here are some of the average Web3 developer salaries for different regions:
- North America: $150,000
- Europe: $145,000
- Asia: $120,000
- India: $50,000
- Singapore: $135,000
Proven Expertise
Depending on what needs to be built, some employers may want to hire someone with considerable proven expertise from various past projects.
For example, the risks associated with sloppy programming are extremely high in the decentralized finance industry.
A simple exploit of a protocol can potentially lead to millions of dollars in stolen funds.
When the stakes are high, you don’t want to be the one who tried to save a few thousand dollars on a Web3 developer salary.
That’s also why it’s important that Web3 developers get a lot of practical experience under their belt.
The more experienced and battle-tested you are, the more attractive you will be to employers.
So if you’re new to the Web3 space, start off by learning some of the basic concepts and use sites like Pointer, Buildspace, or even Cryptozombies to build your very first projects.
And once you feel you’re ready to get your hands dirty, start applying for smaller contract work on Upwork or similar platforms.
Over time you will gain more and more experience, and that will increase your chances with every new opportunity that arises.
Overview of Various Web3 Salaries
The following stats on Web3 salaries were collected from various different sources and cross-referenced with those from the Web3 Creators website. They do not necessarily match the figures shown above.
Development
| Role | Minimum / per year | Average / per year | Maximum / per year |
|---|---|---|---|
| Solidity developer | $80,000 | $130,000 | $180,000 |
| Smart Contract Developer | $85,000 | $130,000 | $180,000 |
| Lead developer | $70,000 | $120,000 | $220,000 |
| Full Stack Developer | $80,000 | $100,000 | $120,000 |
| Front end Developer | $70,000 | $100,000 | $140,000 |
| CTO | $120,000 | $160,000 | $250,000 |
| Blockchain Developer | $70,000 | $140,000 | $200,000 |
| Back end developer | $80,000 | $110,000 | $140,000 |
| Architecture developer | $65,000 | $100,000 | $120,000 |
Marketing
| Role | Minimum / per year | Average / per year | Maximum / per year |
|---|---|---|---|
| Product Marketing | $90,000 | $105,000 | $130,000 |
| Growth Hacker | $70,000 | $95,000 | $120,000 |
| Community Manager | $60,000 | $85,000 | $120,000 |
| CMO | $90,000 | $120,000 | $160,000 |
| Business Developer | $80,000 | $110,000 | $160,000 |
| Brand Manager | $70,000 | $90,000 | $125,000 |
Design
| Role | Minimum / per year | Average / per year | Maximum / per year |
|---|---|---|---|
| UX/UI Designer | $80,000 | $105,000 | $140,000 |
| Product Designer | $90,000 | $110,000 | $140,000 |
| Head of Design | $100,000 | $125,000 | $150,000 |
| Graphic Designer | $500,000 | $70,000 | $90,000 |
Management
| Role | Minimum / per year | Average / per year | Maximum / per year |
|---|---|---|---|
| Office Manager | $500,000 | $70,000 | $90,000 |
| HR | $60,000 | $80,000 | $110,000 |
| CFO | $100,000 | $140,000 | $180,000 |
Conclusion
We are still in the early days of Web3 but the monumental potential is already obvious to many people.
The fact that some companies are already paying a Web3 developer salary of up to $500,000 is a testament to this fact.
Now is the time to invest in your future as a developer and learn the necessary skills that will set you for life once Web3 emerges as the new standard
Here at Tokenized, we want to help you learn as much as possible about the coming Web3 revolution. We help you navigate this fascinating new world of Blockchain, Crypto, and NFTs and show you how you can integrate tokenization into your own business.
