Cryptocurrency Industry Salary Breakdown: Million-Yuan Annual Salary, So Easy?

Source: Odaily Planet Daily

Author: jk

Original Title: Ten-Thousand-Word Analysis of Crypto Compensation Report: Huh? Do these people really earn that much?

In the crypto industry, compensation has always been a frequently discussed topic, yet one of the hardest to draw reliable conclusions about. Whether it’s founders setting internal salary frameworks or candidates evaluating whether an offer is reasonable, the reality often lacks data support. Industry discussions tend to rely on scattered case studies, anonymous sharing, or emotional judgments rather than a universal compensation structure.

Against this backdrop, top venture capital firm Dragonfly released its first annual crypto industry compensation report in 2023, summarizing a broad survey to provide a generalizable crypto salary dataset. Two months ago, Dragonfly published the 2025 version. This report collected feedback from 85 crypto companies and, for the first time, expanded the scope beyond Dragonfly’s portfolio to include outside companies, making the data more representative of the industry cross-section.

Data collection covers late 2024 to Q1 2025, introducing approximately 3,400 deduplicated employee and candidate data points. Although the data isn’t very recent, fortunately salaries don’t fluctuate as wildly as token prices. The report details salary data for each function, level, and region, moving beyond simple “average” or “rough ranges.” Compared to the 2023 report, this study not only answers “How much does the crypto industry pay?” but also begins to reveal “How is the money distributed, and how do certainty and risk flow within organizations?”

Let’s take a look at the highlights worth referencing. Whether you’re a fresh graduate gearing up to enter Web3 or mid-level management exploring the crypto industry, this report should offer valuable data for your consideration.

All salary units in this article are USD/USDT; salaries are all cash payments, excluding token/equity compensation.

1. Overall Market Summary

TL;DR: Here are Dragonfly’s top ten takeaways from the report.

• Most crypto companies are in growth mode, not hyper-expansion.
• Crypto hiring has been global from the start; almost no companies hire only within the US.
• Europe has become the primary international recruitment hub.
• Salaries and token compensations across nearly all levels and regions have declined.
• Remote work remains dominant, and companies do not plan to change this.
• Barriers to entering crypto are high; entry-level roles account for less than 10%.
• Engineering remains core. Product roles typically start at senior levels; design roles emphasize individual contributors over management.
• US salary levels set the global benchmark for engineering management.

Overall, the crypto compensation landscape from 2024 to 2025 shows a clear characteristic: it’s a market in downward adjustment but gradually stabilizing. Despite mainstream crypto assets maintaining strength and US policy signals being positive at times, these macro changes have not yet quickly translated into hiring and salary adjustments. Companies remain cautious in staffing and pricing, leading to a broad contraction in roles and pay.

On the geographic front, the industry’s globalization continues to solidify. Nearly no teams are solely US-based; cross-region collaboration is the default from the start. Europe has risen significantly in this cycle, becoming one of the most important international recruitment centers, especially for engineering and product functions.

Remote work is a very clear long-term trend in this report. Most companies show no definite plans to revert to office-based work, which weakens the “location determines salary” logic. Compensation differences are increasingly reflecting individual influence, scarcity, and responsibility boundaries rather than geography.

Entry-level roles are most impacted, with salaries and tokens dropping sharply, sometimes compensated with higher equity ratios. US entry-level roles still have an advantage in cash pay, but international counterparts often receive 2–3 times more equity and higher token rewards. Mid-level roles are generally squeezed, with limited growth potential; senior roles are relatively more stable, with smaller pay cuts, more stable equity, and tokens increasingly concentrated at the executive level. The most notable salary increases appear among senior individual contributors (Senior ICs) and executives, forming a clear “bell-shaped” structure, especially prominent in product and engineering roles.

Engineering remains the industry’s core, but functions outside engineering are showing more distinct tiering, with rewards concentrated at senior and executive levels, while mid- and junior roles face more compression. Product roles almost always require senior experience from the start, and design functions favor high-level individual contributors over management. In design, management is less valued than senior designers. Senior US-based individual contributors surpass design managers in total compensation, even some executives.

Finally, year-over-year, founders (i.e., the creators) are increasing their own salaries annually. The larger the funding round, the higher the founders’ pay, but their equity share is lower. US founders generally earn more in salary, equity, and tokens than their international peers.

Overall, salaries and token grants across nearly all levels have declined. US roles still lead in cash compensation, while international teams narrow the gap through higher equity and token allocations.

2. Deep Dive into Six Key Roles

2.1 Software Engineer: Industry Cornerstone

As the technical backbone of crypto, software engineers’ salaries have always been among the highest.

US Market Salary Progression:

Data shows a clear career path. Entry-level salaries range from $89k–$138k, averaging about $113k. Mid-level salaries increase to $123k–$172k, averaging around $147k. When promoted to Principal or Senior levels—roughly after 7–8 years—there’s a significant jump to $172k–$222k, averaging about $197k.

Software Engineer Salaries

At the executive or director level, salaries can reach $208k–$264k, with an average of about $236k. From entry to executive, salaries nearly triple.

Notably, the jump from mid- to senior engineer (around 3–5 years to 7–8 years) is the most dramatic, with a growth of over 40%. This indicates companies are willing to pay a premium for engineers who can solve complex problems.

International Market:

Salaries abroad are lower but still attractive. Entry-level ranges from $63k–$109k, roughly 400,000–700,000 RMB, which is quite substantial in many countries, especially in Eastern Europe and Southeast Asia with lower living costs.

Meanwhile, senior roles are rapidly catching up to US levels. Executive or director salaries can reach $200k–$253k, approaching US peers. As remote work becomes more common and global talent competition intensifies, regional differences are shrinking. Skilled engineers now have more flexibility about where to work.

It’s clear how important English proficiency is for engineers.

2.2 Crypto Engineer: Specialized Rewards

Crypto engineers, often called smart contract engineers, have a unique salary pattern.

US Market:

In the US, the salary trajectory shows an interesting phenomenon. Entry-level ($64k–$108k) is actually lower than traditional software engineers, likely because newcomers need time to build domain-specific knowledge like consensus mechanisms and Solidity.

But at mid-level ($119k–$169k), specialized advantages become evident, with an 85% increase. As they advance to senior ($155k–$205k), salaries continue to grow strongly. This steep curve underscores a key fact: mastering core crypto tech can dramatically boost your value.

Smart Contract Engineer Salaries

Interestingly, management-level crypto engineers (Manager: $145k–$200k) earn slightly less than purely technical tracks. This may reflect an industry trait: technical depth is more valued than management ability, especially for those who understand zero-knowledge proofs or optimize Layer 2 solutions.

International Market:

Mid-level crypto engineers perform especially well internationally. Salaries ($90k–$142k, roughly 600,000–1,000,000 RMB) even surpass some senior traditional roles. The reason is simple: blockchain and smart contract skills are globally scarce. Whether in Silicon Valley or Singapore, top Solidity developers are highly sought after.

2.3 Product Manager: Salary Breakout Star

Product managers showed remarkable salary growth in 2024/25, especially at senior levels.

US Market:

The most striking data point is the salary of executive-level product managers, reaching $391k–$484k, far exceeding other roles. Many might think this is a typo. But in fact, this reflects several key insights.

First, Web3 products are far more complex than traditional internet products. They require understanding user needs, tokenomics, on-chain data, cross-chain interactions, and more. Second, PMs who truly understand the technology and can translate it into user value are extremely scarce. Lastly, successful crypto products generate enormous business value—DeFi protocols or NFT platforms often handle billions of dollars in transactions.

In other words, sticking to this path can be very rewarding.

For entry- and mid-level product managers, salaries ($95k–$140k for entry, $153k–$203k for mid) are second only to software engineers, and mid-level PMs surpass all technical roles in pay, becoming the highest-paid among peers.

But that’s only in the US.

International Market:

Compared to the US frenzy, international PM salaries are more rational and lower. Executive-level salaries are $145k–$194k, not nearly as exaggerated; meanwhile, entry-level PMs earn similar to senior smart contract or software engineers, with no significant difference, and remote work allows someone earning an average of 750,000 RMB to live well.

2.4 Designer: Underestimated but Rising

Design roles have long been undervalued in crypto, but data shows this is changing.

US Market:

The salary trajectory for designers is an interesting story. Entry-level ($53k–$103k) is among the lowest across roles, fitting the industry’s early focus on tech over user experience. Many early DApps had appalling interfaces, even projects with hundreds of millions in funding often had poor UX.

But this is changing rapidly. As designers grow to senior ($139k–$182k), salaries jump significantly. This indicates the market finally recognizes the importance of experienced designers who can lead teams after 7–8 years.

However, mid-level designers face the biggest challenge. Their salaries ($80k–$120k) grow slowly, only about 30% above entry. This “mid-career crisis” could lead talented designers to leave for other industries or switch functions.

International Market:

Interestingly, international designer salaries are more balanced. Especially at mid- and high-levels, the pay gap with other functions is smaller. This offers a fairer development environment for designers. If you’re a designer, consider international opportunities.

2.5 Marketing: Steady Growth Powerhouse

Marketing plays an increasingly important role in crypto, and salary data reflects this trend.

US Market:

Marketing salaries show steady, balanced growth. Entry-level ($58k–$108k) provides a reasonable starting point. Mid-level ($90k–$139k) grows about 55%. Senior ($127k–$176k) and executive ($166k–$225k) levels also follow this pattern. As marketing professionals move from executing to strategizing, their value increases significantly—those who can understand complex tech and craft compelling stories are highly valued.

International Market:

International marketing salaries are more standardized, with smaller differences between levels, showing steady growth.

2.6 Business Development (BD/Go to Market): Growth Engine

BD/GTM roles are crucial for project success, and salary data underscores this importance.

US Market:

BD salaries are perhaps the most inspiring. Entry-level ($50k–$100k) is the lowest among roles, but don’t be discouraged. Mid-level ($105k–$154k) doubles, a 100% increase over 3–5 years. This is the largest growth among all roles. At the executive level ($195k–$252k), top BD leaders’ pay reflects their critical role in growth.

Entry-level BD may just be cold emailing, attending meetings, and doing initial market research. But once you build your network and understand the ecosystem, your value skyrockets.

Think about it: a top BD can help projects access major exchanges, establish key partnerships, and open new markets. In the current “build in a bear, harvest in a bull” environment, BD talent that can deliver real business growth is highly sought after. They need to understand business, tokenomics, blockchain features, and DeFi protocols—these multi-skilled talents are in high demand everywhere.

International Market:

International BD salaries show a particularly interesting phenomenon. Principal/Senior levels ($127k–$177k) perform especially well, and Manager-level ($136k–$189k) salaries even surpass US peers.

The reason is simple: international markets rely more on localized business development. If you can help a US project land in Asia or help Asian projects enter Europe and the US, your value is huge.

US roles lead in both cash and total compensation across nearly all levels.

2.6 Founder Salaries: How Much Do Bosses Pay Themselves?

A very interesting phenomenon is that founders’ salaries are positively correlated with funding stages, but the growth isn’t linear, and the US and international markets show distinct patterns.

US Market:

In the US, founder salaries increase in a stepwise fashion with funding rounds. Starting from $181k (median $195k) at seed, rising slightly to $198k at Series A, the growth is moderate. The real jump occurs at Series B, where average pay skyrockets to $276k (median $298k), over 40% increase.

This is fascinating. Series B is typically when companies begin scaling significantly, product-market fit is validated, and business models are mature. Founders shift from entrepreneurs to CEOs, managing larger teams and more complex operations. The sharp salary increase reflects this role change and added responsibilities.

At Series C and D, salaries stabilize around $275k–$300k. Series C salaries ($275k) are even slightly lower than Series B, with Series D climbing back to $300k.

International Market:

Data shows a very different picture. Early stages (seed to Series A) have founder salaries from $138k–$140k (seed) up to $210k–$244k (Series A). But at Series B, the figure drops to only $16k—possibly due to small sample size or some founders opting for very low salaries to keep the company afloat.

Even more surprising, Series E data shows international founders earning $300k, comparable to US Series D levels. This suggests that companies able to raise Series E internationally are often unicorns or near-unicorns in their regions, with founders’ compensation aligning with global standards.

Public company founders’ salaries are around $144k, relatively low, as their main wealth source post-IPO shifts to equity/token value rather than cash.

3. Where Do Employees Work?

Dragonfly data indicates Western Europe is the main international recruitment hub.

Regional hiring trends often occur after companies reach Series B and beyond. As companies mature and local operational capabilities are required, teams expand into Asia, Canada, and Eastern Europe.

This also reflects a significant difference from typical Asian crypto projects we see domestically; most salary data points are for European roles, which tend to be higher.

But who knows—these folks are really living the good life!

![]$300k https://img-cdn.gateio.im/webp-social/moments-28e9d3a974d0290c5643d385ab7ebf99.webp(

Dragonfly’s official summary states:

In companies from Series B to Series E, 84% hire employees in Western Europe; in companies with over ) in funding, this proportion is similar.

In later stages, 63% recruit in Eastern Europe, benefiting from a strong local supply of engineers and cost-effective talent.

Asian expansion has nearly doubled year-over-year, from 20% to 41%, to meet growing user adoption and market demand. So, Asian employees are not the majority, but their presence is growing.

Between Series B and E, 38% of companies expand into Canada, leveraging its proximity to the US, favorable regulations, and mature developer ecosystem as a risk hedge.

From Series B to D, only 13% expand into South America.

Rare exceptions include: India (9%), Africa (4%), and Oceania (2%).

4. What Can We Learn?

$40M 3.1 Entry-Level Talent

If you have a technical background, congratulations—you’re already ahead. Entry-level salaries for software engineers, smart contract engineers, and product managers are the highest. Even in the US, starting salaries can reach six figures, which might take years to achieve in traditional industries.

But a word of advice: don’t just chase the starting salary. More important are learning opportunities and growth potential. Choosing a team that helps you grow quickly is more valuable than an extra $10,000–$20,000 in initial pay, because the jump from entry to mid-level is huge, and how fast you make that transition matters most.

Although BD and marketing have lower starting salaries, don’t be discouraged. Look at their growth curves—especially BD, which can double from entry to mid-level. If you’re good at relationship-building and understanding business logic, BD could be a great choice. The first couple of years may be tough and pay modest, but once you build reputation and network, your value will grow exponentially.

3.2 Mid-Level Talent

Mid-level PMs surpass all other roles in salary, and that’s no coincidence. The market is actively seeking “tech-savvy + user-oriented” hybrid talent. If you’re an engineer but often think, “Does this feature really meet user needs?” or “Is this product logic flawed?”, transitioning to product management might be a good move.

For BD, mid-level is a golden period. You’ve accumulated enough experience and connections to independently drive key partnerships. You understand how to deal with different stakeholders and grasp ecosystem dynamics. In crypto, reputation is everything. Attend industry events, share insights on Twitter, and build a professional image. These investments will pay off when seeking your next opportunity.

3.3 Regional Strategy

Where you work isn’t just about salary. Cost of living matters. Earning $150k in San Francisco might not be as comfortable as €80k in Berlin. US market competition is fierce, and work pressure is high.

International markets often offer better work-life balance. Many European crypto firms provide flexible schedules, longer vacations, and a relaxed atmosphere. If you value work-life balance, international options might suit you better.

Most importantly, remote work is changing the game. More US companies are willing to hire international remote employees. Salaries may be adjusted, but they remain attractive.

Here’s an interesting arbitrage opportunity: earn international market salaries in low-cost regions. For example, living in Eastern Europe or Southeast Asia and working remotely for a company paying “international market” wages. Even if the pay is below US standards, your quality of life might be higher.

The regional gap for some roles is shrinking rapidly, especially for senior engineers. If you’re a senior engineer, you can command good pay regardless of location. Companies care more about your problem-solving ability than where you sit.

Conclusion

The 2025 crypto industry salary data reveals a market full of opportunities but also challenges. Technical talent continues to enjoy premium pay, product managers are rising fast, and roles like BD and marketing show great potential.

For job seekers, choosing the right role and development path is more important than just chasing high pay. The industry’s rapid growth means today’s entry-level employees could become experts in a few years. The key is to keep learning, build networks, and find your unique value in this exciting industry.

For companies, establishing a fair and competitive compensation system is just the first step. The real challenge is creating an environment that attracts, develops, and retains top talent. In an industry where talent defines success, investing in human capital will yield the highest returns.

As crypto continues to mature and evolve, we can expect more specialized roles, skills, and a more global talent market. Those who adapt, keep learning, and grow will be best positioned in this digital future.