It takes skill to become a developer, and it takes good skill to become a blockchain software developer. Software engineers are one of the highest-paid individuals in most corporations right now, as more companies try to offer and improve their online services or presence.
Web3 developers are a special type of blockchain developer that builds applications or systems on the blockchain. A web3 developer earns an average of $70,000 – $400,000 yearly, some earn significantly more than that, while others earn less. The size of the corporation hiring and the location of the corporation are the main determinants of a web3 developer’s salary.
Who is a Web3 developer?
A few people have an idea of who a Web3 developer is, but many do not really know. Before you can understand who a Web3 developer is, you will need to have an idea of how Web3 works. Web3 is a peer-to-peer network that allows for the storage of data and applications on a distributed ledger.
A Web3 developer is basically a builder in the crypto-decentralized space. They develop dApps (decentralized applications) that run on the blockchain network. Web3 developers make use of Web3 layer 1 blockchain technologies to create apps on the blockchain, they are also capable of writing smart contracts, interacting with DeFi (Decentralized Finance), and working on decentralized system storages.
Every web developer knows some programming languages, and blockchains have their own unique programming languages. A web3 developer on the ETH network, may not be able to build anything on the ICP network, as these blockchains make use of totally different programming languages. Examples of programming languages include Solidity, Rust, Javascript, and many more.
Why are the average salaries of Web3 developers high?
The blockchain industry is still growing, and the adoption rate has been on an uptrend. The industry is still relatively new, with unique language models and techniques. Decentralized application is also becoming more popular as more tech startups interact with the space. All these factors come together to increase the demand for web3 developers who have the blockchain protocol knowledge needed.
With the demand for web3 developers increasing and the skills being in short supply, you can only expect that they are paid well. It is very difficult to come across a skilled Web3 developer, and developer jobs pay so well to retain workers. A lot of people still do not know what a blockchain is, leaving more room for further adoption.
If you are looking to get into Web3 development, now is still a very good time. This industry is still in its early stages, and following the right path to becoming a Web3 developer can be a life-changing decision.
Factors that can influence the average income of a web3 developer
The demand for web3 developers keeps rising as the crypto industry expands, making web3 development an in-demand skill in the tech industry. There are several factors that can determine the salary of a web3 developer, and in this section, we will talk about some of these important factors.
Hire Location
This is one of the most influential factors if not the top factor. The location of the employer and the talent decide the pay range of a Web3 developer, metropolitan areas tend to generate more revenue than small cities. The cost of living in that region is also taken into account by the employer.
There are also offshore conditions, as corporations hiring overseas labour tend to pay less or more depending on the talent’s nation. If you are a Web3 developer, prioritize offers from more sophisticated and developed areas, as there is a chance they could be paying significantly more as annual salary.
Web3 Developers’ Salary in the US
The average salary for a Web3 developer in the US is $150,000. Tech jobs in the US tend to pay a lot of money while offering remote employment to talented people. The cost of living in the US is high, and the US is one of the most developed nations in the world.
Web3 Developers’ Salary in Canada
The average yearly salary for a Web3 developer in Canada is $60,000. This is a result of the nation’s few employment options.
Web3 Developers’ Salary in Europe
The typical income for a Web3 engineer is $145,000. Europe pays one of the highest average wages to Web3 developers, sometimes paying as much as $200,000. This is high, but when considering the equally high cost of living in Europe, things start to balance out.
Web3 Developers’ Salary in India
The average web3 salary in India is $50,000. Most corporations in India pay between $30,000 and $70,000 to Web3 developers. Talents with more experience get above the average pay.
Web3 Developers’ Salary in Asia
The average salary for a Web3 developer in Asia is $120,000. Working in Asia as a blockchain developer may not be as profitable as in Europe or the United States, since there is a significant discrepancy in base wages, which can range between $80,000 and $200,000 for such developers in Asia.
Web3 Developers’ Salary in Singapore
The average annual income for Web3 jobs in Singapore is $135,000. Singapore pays Weeb3 developers well when compared to other countries. A blockchain developer in Singapore earns from $90,000 to $200,000 beginning the average max salary.
Expertise and role
When developing dApps or any protocol, corporations will require a team of Web3 developers. Each talent will have unique roles and functions in the process, and the role they play in the team can determine their yearly income.
Web3 developers can be divided into groups such as Full stack web3 developers ($100,000 salary), core blockchain developers ($170,000 yearly), smart contract developers ($85,000), front-end web3 developers ($74,000), and many more.
Experience and portfolio
It is not news that institutions are willing to pay more for talents with a higher level of experience in a specific field. Good experience in Web3 development or a portfolio of web3 projects proving past success will increase your chances of earning more while opening doors to higher roles that requires an experienced web3 developer.
Singing in your bedroom is not the same as singing at a concert in front of millions of people, the same applies to coding. It takes a level of skill, dedication, and practice to be able to perform on a professional scale. If you want to broaden your horizons and be considered for top positions and big pay, you have to get familiar with basic tools and frames on Pointer and Buildspace. You can proceed to something a bit more difficult, like hackathons.
Web3 developers’ salaries based on roles
Core Blockchain developers
Core blockchain developers are the highest-paid developers in the crypto industry, with salaries as high as $250,000 in the US, and $90,000 in Europe. The average salary for a core blockchain developer is $170,000 annually.
The responsibilities of a core blockchain developer are a lot as they need to have knowledge of programming, interoperability protocols, and connectivity. The security and architecture of the blockchain network must be taken into consideration to build a scalable and secure network.
These developers build layer 1 blockchains like Solana, Internet Computers Protocol, Ethereum and lots more, They mostly make use of C++, C, and Rust.
Front-end developers
The income of front-end Web3 developers ranges from $180,000 in the US to $78,000 in Europe. The global average income is $74,000 annually. Front-end Web3 developers play similar roles to Web3 front-end developers, the main difference is that they make use of RPC libraries like Ethers.js and Web3.js to build dApps instead of HTTP.
Full-stack Web3 developers
The salary of a full-stack developer may not be as high as that of a core blockchain developer, but it is higher than that of a front-end developer. A full stack developer builds dApp from the front end to the backend, they construct smart contracts and the interface of dApps.
In the United States, full-stack developers earn as high as $200,000, while in Europe they have an expected income of $80,000.
Smart Contracts developer
In Europe, smart contract developers earn from $18,000 to $150,000. The developers make use of programming languages like Solidity, Rust, and JavaScript to build and deploy smart contracts.
They play the role of overseeing the security of the system while maintaining gas fees. The global average salary of a smart contract developer is $85,000 yearly.
Conclusion
If you are looking to get into blockchain development, there is no better time than now. Web3 developers are one of the most paid individuals in the crypto space with high demand for these services. There are lots of web3 courses available online to begin your journey to becoming a remote web3 expert.
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