Study Shows that Web3 Workers prefer Payment in Crypto outside the U.S. | Crypto

Study Shows that Web3 Workers prefer Payment in Crypto outside the U.S.

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– According to a survey of one major venture capital firms portfolio companies, most crypto employees outside the United States are paid in stablecoins.
– Framework Ventures manages $1.4B in assets and conducts a bi-annual survey of compensation at its 18 portfolio companies.
– Among companies with headquarters in the US, four out of five offer USD as the primary payment option, according to Framework, often due to the convenience of using best-in-class payroll and employee benefits providers that are less likely to support stablecoins.
– Elsewhere, however, 56% of the companies surveyed offer stablecoins as the primary payment option, with nearly all offering payment in the dollar-pegged USD Coin (USDC).
– The median pay for a crypto engineer based in the US is $150,000, according to the study, Elsewhere, that figure is $125,000.
– The gap narrows for the best engineers, however. In the US and abroad, those in the top 25th percentile earn between $150,000 and $300,000.
– Despite a massive influx of new engineers learning solidity, rust, or other languages, there is still a dearth of technical talent in crypto, according to the study.
– Founders at Framework-funded companies pay themselves about as much as they do their engineers.
– Some teams have also created tokens as a form of equity payment, though teams based in the US were far less likely to have done so. More than a quarter of international companies, meanwhile, offer tokens to their employees.
– None of the companies surveyed required all employees to report to an office. 58% of companies were fully remote, with the remainder featuring some hybrid of in-office and remote work.
– The surveyed companies varied in size, with the smallest employing two people and the largest employing 80. The data was collected in March and June this year.

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