Overview of Web3 Developer Salary: Median Pay, Bonuses, and Benefits

As the Web3 ecosystem continues to grow and evolve, the demand for skilled Web3 developers has skyrocketed, along with their salaries. So if you also think about hiring Web3 engineers, understanding the compensation landscape should be one of the first tasks on your to-do list. 

That’s why the Bridge team put together this comprehensive overview of Web3 developer salary expectations, along with bonuses and benefits. We also supported our research with some salary trends we personally faced when helping our clients find and hire top-notch Web3 developers worldwide. Let’s find out what’s special about the Web3 labor market and what specialists from this field expect from the projects they are about to join. 

What are the main challenges with determining a Web3 developer’s salary? 

In our recent article, we discussed the ways to hire a Web3 developer. While everything can be pretty clear with the hiring process itself, defining the right Web3 developer salary average is significantly more difficult. The trick is that the Web3 industry doesn’t have the clearly-defined pay scale standards, plus there are additional factors that affect the Web3 programmers’ wages. Let us consider them in more detail.  

Web3 is an emerging field

The concept of Web3 first appeared in 2014, so it is a relatively new concept that, nevertheless, is projected to revolutionize the way users store and exchange data on the Internet. In 2022, more than $22 billion was invested in Web3 projects. Still, Web3 isn’t been largely adopted yet. In their recent report, CB Insights highlighted only 100 companies that “build the future of the Internet”. 

At the same time, we can see an almost tenfold increase in the number of Web3 developers from 2014 to 2021. However, it is still not enough to cover the growing demand. Forbes predicts that the lack of Web3 developers is likely to slow down the development of the industry in the upcoming years. The potential lack of Web3 talent also explains why companies are ready to offer them higher salaries, which makes determining the right price tag more challenging, in turn. 

The developers’ salary is always location-dependent

When it comes to Web3 software engineer salary, the location matters. As a rule, US-based companies usually offer the highest salaries to their software developers, including but not limited to Web3. That’s why outsourcing Web3 software development to Latin America and Eastern Europe becomes more and more appealing to American business owners, as it allows them to hire programmers with the same level of expertise while cutting down their budget on talent acquisition. 

Eastern Europe Software Development Outsourcing: Where to Hire Your Remote Team?

But outsourcing software development projects to the Far and Middle East promises the greatest cost saving still. So take this information into account when you start looking for Web3 engineers. 

There is a scarcity of programmers with cross-functional skills in this field

The thing is that Web3 is a broad term that unites experts in various technologies under one roof. For example, Web3 development specialists include but aren’t limited to Solidity, and Rust developers. There are also smart contract programmers and blockchain coders. And let’s not forget about full-stack developers, product designers, software architects, and many others, who can be considered Web3 specialists. With such a huge number of Web3 development roles and responsibilities, defining a reasonable pay scale becomes especially difficult. 

Take a look at the chart below to get an idea of a possible Web3 developers’ salary difference depending on the role.

As we can see, blockchain developers are one of the highest-paid in the field of Web3 (and in other fields too). The full-stack Web3 developer’s salary is equal to the salary of the architecture developer. Smart contract and Solidity developers can make from $130,000 to 140,000 per year. 

As usual, seniority matters

Just like in any other industry, more experienced developers typically expect higher salaries. For example, the average annual salary of a Senior developer and Lead developer in the Web3 field is around $140,000 to 150,000. The minimal starting wage for a Junior Web3 developer can be only $25,000 per year and at the same time, it can reach an incredible $180,000 in some projects. A Web3 developer with a Mid-level qualification earns $120,000 on an annual average. 

There are both top-paying and median-paying industries

The Blockchain Council reports that the highest-paying blockchain jobs in 2023 include positions in industries such as finance, healthcare, and government. At the same time, the industry standards are still confusing when it comes to Web3 developers’ salaries. While projects from the industries mentioned above usually tend to pay higher, it isn’t a rule of thumb. For example, recently, LooksRare, the newly launched NFT marketplace, offered an unprecedented $600,000 as an annual Web3 engineer’s salary. 

There are also token-based incentives for employees

A stock-option-based compensation is a well-adopted practice for projects created in Silicon Valley. This approach aims at encouraging employees to do their best for company growth. In the world of Web3, token-based incentives work in the same way. Nevertheless, providing your Web3 developers with a token-based incentive doesn’t mean cutting down their salaries. Instead, it is an additional encouragement for them which you should also keep in mind when determining the salary and deciding on what benefits to include in your offer. 

There can be a huge salary gap depending on the type of Web3 project

In addition to the programmer’s location, seniority, and Web3 role, a Web 3.0 developer’s salary largely depends on the project they are hired for. What’s more, when it comes to Web3, a tendency that large enterprises pay more than startups no longer works. In the Web3 world, it is promising and well-funded startups that offer sky-high salaries to their developers. In some cases, the annual wage can reach up to $900,000, which is 6 times higher than the market average. 

The engagement model also affects the Web3 developer’s salary

Another important fact that affects the wage for a Web3 developer is the engagement model. Usually, hiring software developers in-house is more expensive than hiring them on a freelance platform since you also have to pay the corresponding taxes, cover the insurance and provide the benefits. 

At the same time, hiring a Web 3 programmer on Upwork can also be pretty costly. Some top-paid developers charge up to $200 per hour while you still can hire someone with a five times lower hourly rate. The reason for the latter is either the location (for example, a Web3 programmer may be located in India) or less qualification compared to those charging $200/hour. 

How much does it cost to hire Web 3 developers?

The average salary of a Web3 developer in the United States is around $150,000 per year, according to Web3 Careers. But how much does it cost to hire them in other parts of the globe? Let’s compare the Web3 programmers’ wages in different locations.

Web3 programmers’ salaries in Latin America

Latin America is one of the most promising software development outsourcing destinations, so it would be reasonable to take a look at Web3 developers’ wages in LATAM countries. They are provided in the chart below. 

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The cost to hire a Web3 programmer in Western Europe

Let’s proceed with our Web3 developer salary overview by taking a look at their pay scale in Western European countries. 

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The pay scale for a Web3 specialist in Eastern Europe

Eastern Europe is rich in promising outsourcing destinations, but how much do Web 3 developers make there? We have researched the data and summarized it in the chart below. 

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Web3 developer salary in other locations

In order to get the fullest picture possible, take a look at the Web3 developer salary in other parts of the globe. 

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Summarizing the charts above, it becomes obvious that Web3 developers can earn from $32,000 (in some Eastern European countries) to $100,000 per year. However, keep in mind that the graphs above provide only annual salary figures for Web3 developers in different countries, but they don’t take into account the bonuses and the hiring cost. 

The latter may vary from 1 to 3 monthly wages of a Web3 developer in a chosen location, which can be burdensome, especially for early-stage startups. Fortunately, you can optimize the hiring costs with Bridge and find developers whose salary expectations will fit your budget. 

Matching developers’ salary expectations with your budget – how Bridge can help 

Long story short, Web3 developers are among the highest-paid tech specialists in the modern labor market. So, how can you hire them without breaking the bank? The solution is simple. You have to partner with a company that has expertise in hiring Web3 developers, and here’s where Bridge can help. We have a data-driven tech talent sourcing technology that allows us to find and shortlist the right candidates carefully, according to the chosen location, necessary skills, your budget, and their salary expectations. 

In addition to the opportunity to align your budget to the candidate’s salary expectations, our sourcing-as-a-service also cuts your hiring costs since it comes with a fixed price. That’s why most of our candidates subscribe to it on a monthly basis and get relevant candidates on an ongoing basis.

Hire Web3 developers globally with Bridge and join those transforming the Internet already today. Drop us a line to get started!