Latest Survey: Average salaries in the US cryptocurrency industry are 13% higher than overseas, with stock and token incentives up by 30%
The average salary in the US cryptocurrency industry is 13% higher than overseas, with stock and token incentive schemes being 30% higher. A survey by Dragonfly Capital also found that US cryptocurrency startups are less likely to issue tokens, possibly due to the attitude of the US Securities and Exchange Commission towards digital assets. The survey also provides a window into the compensation of different roles in cryptocurrency companies. Most companies pay employees in fiat currency, with a slightly higher possibility for international companies to pay employees in cryptocurrency. The digital asset industry has experienced a significant contraction, but market recovery has brightened recruitment prospects
According to the Zhitong Finance and Economics APP, a survey conducted by the digital asset investment company Dragonfly Capital on startups shows that the salary offered by American cryptocurrency companies is significantly higher than that of overseas competitors.
The report indicates that the average salary in the American cryptocurrency industry is 13% higher than overseas, with stock and token incentive programs being 30% higher. Tokens related to cryptocurrency projects are used as part of bonuses similar to stock options.
However, compared to digital asset companies elsewhere, American cryptocurrency startups are less likely to issue such tokens. The report found that only 11% of cryptocurrency companies in the U.S. have issued tokens, while the proportion for international companies is 38%.
This may be related to the aggressive stance of Gary Gensler, the chairman of the U.S. Securities and Exchange Commission, on digital assets. He believes that the industry is rife with fraudulent activities and must comply with the regulations of the agency. There are disagreements within the U.S. Securities and Exchange Commission, as just this week, a judge accused the regulatory agency of "seriously abusing power" in a cryptocurrency case.
Additionally, the report from Dragonfly provides a window into understanding the salaries of different roles within cryptocurrency companies. When a founder's company reaches the C round of financing, he or she can earn $300,000. The annual salary of senior-level engineers can reach up to $283,000, excluding equity and token rewards.
These findings are based on a survey of 49 startups supported by Dragonfly in 2023. The author believes that these results "indicate trends rather than explicit industry practices."
The survey also found that most companies in the U.S. and overseas pay employees in fiat currency, with a slightly higher likelihood for international companies to pay employee salaries in cryptocurrency.
After experiencing a deep bear market in 2022 and a series of business closures, the digital asset industry has suffered a significant contraction. However, the market recovery over the past year has brightened recruitment prospects, provided that the rebound can be sustained