- Venture capital firm Framework Ventures conducted a survey of 18 crypto companies looking to take a look at start-up salaries to benefit both founders and job seekers by improving transparency in the ecosystem.
- The data reveals both base salaries and allocations of capital and/or crypto tokens for four key groups: founders, executive engineers, and non-engineer operators such as sales, marketing, recruiting, etc.
- The companies consulted work with the Framework and come from different areas: they are decentralized finance (DeFi) projects based on Ethereum, companies dedicated to gaming, the Aave loan protocol, the famous Play-to-Earn Illuvium and the project behind the currency stable Fei, for example.
The world of cryptocurrencies is presented as a world of opportunities. The opportunity to be financially free and to be in control of your money. The opportunity to invest and achieve great returns in the short term. Or also the opportunity to be part of the industry from the inside and work in it as a developer.
One of the big questions that the community asks is whether it is worth leaving a traditional job to enter the digital world 100% and The answer was found by the survey carried out by the Venture capital firm Framework Ventures conducted a survey of staff from 18 companies. The results are surprising in the United States and take on a greater dimension in Latin America if we consider that salaries are much lower.
The quick answer to the research is that six-figure annual salaries can be achieved for both technical and non-technical positions. A high-level engineer reaches $300,000 in base salary, as highlighted CoinDesk. At the same time, the founders, depending on which one, receive token allocations, which can be up to 10% of the initial offer.
Daniel Mason, operating partner of Framework Ventures and leader of the survey, highlighted that in Web3 there are still no job boards such as Glassdoor or Levels and that the publication of the numbers helps “both founders and job seekers by improving the transparency of the ecosystem.
It should be noted that all the companies consulted They work with the Framework and come from different areas: They are Ethereum-based decentralized finance (DeFi) projects, companies dedicated to gaming, the Aave lending protocol, the famous Play-to-Earn Illuvium, and the project behind the Fei stablecoin, for example.
The results of the survey
After collecting data, Framework established four different groups: founders, executives, engineers and non-engineer operators, a diverse category that includes sales, marketing, communication, for example.
“LBase salaries between Web2 and Web3 positions are comparable, but the token advantage is more important. Even a small allocation can become very valuable if the project becomes the next billion dollar protocol.” highlighted Dan Eskow, founder of the company Up Top.
As an example, Vitalik Buterin, creator of Ethereum and with an unknown amount of ETH, can serve. At the time of the Ethereum presale, 2,000 ETH was received in exchange for one BTC. Today, 2,000 are trading for just over 157 BTC.
founders
- It depends on what state the project is in, but initially they receive between $100,000 and $175,000. If the initiative prospers, it can reach up to $225,000. The founding teams usually receive no more than 12% of the total tokens, although it does not usually go below 8%.
Non-founding executives
- In the first phase, the floor ranges between $120,000 and $160,000. Then it exceeds $225,000. They also receive token shares, although in a smaller percentage. At most it is 4%, being between 1 and 2% the norm.
Engineers
- For engineers residing in the United States, the median amount is $150,000 versus about $125,000 for an engineer in another country. They own a small part of the maximum token supply (0.4% maximum) and those with knowledge in Solidity or Rust are more valued. The survey revealed that one of the respondents earned $300,000.
non-engineer operators
- Not being a heterogeneous mass, it is difficult to make a general calculation, but these salaries do not exceed the barrier of $150,000, although they do not fall below $60,000 either. Everything will depend on the level and the area. Business developers perceive more than marketing and operations and design, for example.
Minimum wage in Mexico
After seeing so many large numbers in the United States, we have to fall into a closer reality and Mexico is very far from those payments. As established by the National Minimum Wage Commission (CONASAMI), the minimum wage is $172.87 pesos a day in Mexico City and the rest of the country, while it amounts to $260.34 pesos in the free zone on the northern border of Mexico. In dollars they are around $8 and $13, respectively.
Depending on how deep each pocket is, the alternative of dedicating yourself to the crypto world 100% is extremely interesting. This not only requires intentions, but also knowledge and a lot of preparation.
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