Solidity Developer Salaries in the Enterprise vs. Startup Space

If you are thinking of creating a blockchain-based startup or want to leverage this technology to transform the business operations at your enterprise, hiring Solidity developers will be one of the first steps along the way. But apart from matching their qualification with your project requirements, you will have to offer a fair salary too. But how can you define it properly when the blockchain market breaks the established patterns, making startups pay developers more than enterprises? 

We have spotted this trend personally, when sourcing blockchain software developers for both growing and mature companies. While they required similar qualifications of the developers, the salary range was significantly different in the enterprise and startup space. That’s why in this article, we decided to take a closer look at the current state of Solidity developer salaries and find out how they vary by experience level, location, and company size.

What factors drive the demand for Solidity developers?

Below are the main market trends that trigger the demand for Solidity developers and also influence their wages. 

• The rapid growth of blockchain technology and cryptocurrencies. The global blockchain market is projected to grow from $7.18 billion in 2022 to $163.83 billion by 2029 with an unprecedented CAGR of 56.3%. This thriving industry has created a need for developers who can build decentralized applications (DApps) and smart contracts on blockchain platforms, and Solidity is one of the most popular programming languages for this task. 
• Decentralized Finance (DeFi). DeFi is a rapidly growing sector in the blockchain industry, which requires Solidity developers to create smart contracts for DeFi protocols. 
• Non-Fungible Tokens (NFTs) growing popularity. NFT projects require Solidity developers to create smart contracts for managing the ownership of digital assets and their rights transfer. With the rise of NFTs in the art and gaming industries, in particular, the demand for Solidity developers has increased as well.
• Limited talent pool. According to recent research, the Ethereum ecosystem is estimated at only 200,000 developers. Since there are not so many Solidity developers for hire, their salaries can be sky-high, reaching up to $250,000 per year. 

At the same time, Web3 Careers revealed that in 2023, there are three times fewer Solidity developer job ads compared to the same period in 2022. That’s why now is the right time to hire them instead of waiting until the competition will skyrocket again. One of the first steps we suggest making is to learn Solidity developers’ salaries across industries and locations, as well as their qualifications and experience. 

Luckily, we have already done it for you, so let’s dive in. 

Solidity developers’ salary complete overview

Below you will find the average Solidity developer salary depending on the company size, the programmers’ location, and seniority. 

Startup vs enterprise – who pays more to Solidity developers?

First, let’s compare Solidity developers’ salaries in enterprise-level companies and startups. For instance, a Solidity developer makes $102,888 per year at EPAM Systems, a 30 years-old software development company with more than 40 headquarters across the globe and nearly 60,000 employees worldwide.

At the same time, a Solidity developer in OpenSea makes $153,611 per year. We bet you have heard about this project. OpenSea is the world’s first and largest marketplace for trading NFT collectibles. After being created in 2017, it raised a total of $427.2 million in funding.

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The examples above show that there is a 1.5x difference between Solidity developers’ salaries in enterprise-level companies and startup projects, and contrary to the general expectations, startups pay more. However, it is also important to keep in mind that not all startups are equal. OpenSea, for instance, is one of the fastest-growing and well-funded NFT startups, and to date, it has already gone through 8 rounds of investment. According to the research, late-stage funded startups tend to pay developers up to 11.5% more compared to public companies. 

At the same time, early-stage startups can pay developers up to 30% less than their well-funded counterparts, as their budgets are quite limited. In addition to the direct dependence on funding, the salary developers get when working for startups is also influenced by the location. Take a look at the chart below to see the possible difference in salaries early and late-funded startups offer their programmers in different countries.

Solidity engineers’ salary in the US by seniority

At the same time, both EPAM Systems and OpenSea are US-based companies. However, it would be wrong to be guided by their average salary levels only without taking into account the Solidity programmer’s seniority. The chart below provides an insight into how much Solidity junior, middle, and senior developers make. 

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Solidity developers’ salary in the US by states

The average salary for a US-based Solidity developer is around $120,000 per year. But the number can go higher, depending on the state. Find their salary breakdown depending on the US state in the chart below. 

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How much does it cost to hire Solidity developers in Europe?

So, the cost to hire Solidity developers in the US can vary from $50,000 per year for an entry-level specialist to a sky-high $175,000. So it’s no wonder that many US companies prefer outsourcing their Solidity development projects offshore, for example, to Western and Eastern Europe. Let’s discover the average salary of Solidity developers in these countries. 

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Solidity programmers’ wages in other parts of the world

Lastly, let’s pay attention to the countries we haven’t covered yet. The chart below breaks down Solidity developers’ wages in some of the most promising Latin American and Asian countries. 

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Summarizing the charts above, we can conclude that there is a huge gap between Solidity developers’ salaries in the startup and enterprise space. And as usual, there is also a significant difference in their wages in various locations. For example, you can hire a Solidity developer in India for about $40,000 per year, while the cost to hire them in Portugal, for instance, is more than two times higher. What’s more, since the blockchain development industry is still emerging, there are no clear salary standards that make defining a fixed salary level for Solidity developers challenging.

5 Effective Rules That Help Hire Solidity Developers for Your Project

Nevertheless, there is a proven way to hire Solidity developers at a predictable cost. Our tech talent sourcing agency can help you align remote Solidity programmers’ salaries with your development budget, and here is how. 

Hire Solidity developers at the best cost with Bridge 

Despite the uncertainties in determining the optimal Solidity developer salary, there is still a proven way to hire them while meeting both your hiring budget and job requisition. And that way is our sourcing-as-service. All you have to do is define your requirements, including skills, competencies, experience, location, and expected salary of a Solidity developer, and leverage our data-driven tech talent sourcing engine. Our proprietary engine helps us make well-validated candidate choices, finding brilliant Solidity developers in a 900K-wide talent pool of pre-vetted specialists. Combined with the forces of our professional tech talent sourcers lets us attract the best-in-class Solidity developers, saving up to 60% of the hiring costs. 

Don’t wait any longer to hire the best Solidity developers for your blockchain project. Send us a note today!