Salaries revealed: crypto developers earn high wages

The crypto winter was a harsh time for the average crypto investor, the past bear market was certainly one to forget quickly. With the dramas about Terra (LUNA) and FTX, 2022 was simply a disaster year. However, developers active in the crypto sector do not have to complain, despite the bear market. They earn quite a bit of pocket money.

Scarce crypto talent

According to dates from Durlston Partners, the average developer in the decentralized finance (DeFi) sector earns a very nice salary. This has everything to do with the specificity of the sector and the unique skills involved in this work. This leads to a situation where good employees are very scarce and therefore very valuable.

“The scarcity of DeFi talent, due to the highly specialized skillset for the job, has resulted in a highly competitive landscape where employers pay high compensation to attract and retain talent.”

According to Durlston Partners in the report. According to the data, the annual salary in 2021 and 2022 for a developer in the DeFi sector was between 125 thousand and 160 thousand dollars, which is between 115 and 145 thousand euros.

Surprisingly, despite the bear market, these amounts have only increased. Currently, the same salary is around 180 thousand dollars, or 165 thousand euros per year. Durlston Partners reached this conclusion based on researching job openings in the sector and interviews with industry experts.

Lucrative future for DeFi developers

The growth of the DeFi sector will likely only increase these offsets. The upward trend in salaries is projected to continue in 2023 and beyond. Meraj Bahram of Durlston Partners says:

“As the crypto market recovers and businesses stabilize, developers will become increasingly scarce and sought after. We expect 2023 to demonstrate continued salary growth, leveraging the momentum of late 2022.”

In comparison, salaries in the DeFi sector and the traditional tech sector are quite similar. For example, a developer at Google earns an average of $ 146 thousand per year, and a developer at Facebook even earns an average of $ 189 thousand.

Read Also:  Juan Lebron Farewell to Paquito Navarro: 'It Has Not Been Easy' - Emotional Goodbye Revealed

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here