According to a new 2024 compensation report by Request Finance shard with BitKE, the Web3 sector is becoming lucrative with finance professionals earning heftier packages than their colleagues in traditional industries.
The study interviewed accountants, CFOs, COOs, finance directors and managers, FP&A leaders, fractional CFOs & other finance roles working for Web3 companies.
“Web3 salaries surpass traditional fields, with CFOs (+17%), Finance Managers (+37%) or Accountants (+128%) earning significantly more than their web2 counterparts,” the report says.
“CFOs are the highest earners in Web3 finance, averaging $181,000 annually, compared to the overall average of $145,000.”
However, experience and location are key factors in compensation with 58% of U.S. respondents earning over $200,000 and those with over 20 years of experience receiving an average of $174,000, more than double of early career professionals.
Salaries are also affected by status within a company. CFOs naturally have the highest average salary, ($181,000) being the most senior financial position. The overall average for all Web3 finance roles is $145,000, but figures range significantly. The lowest annual base salary is $15,000, while 7 respondents earn more than $300,000. 91% of them have more than 6 years of experience.
- The compensation is typically done in Fiat currencies, with 87% of respondents fully or partially paid in Dollars, Euros, or other fiat currencies.
- 79% of CFOs earn more than $100,000 each year, and almost 36% earn more than $200,000
- Nearly half of Web3 finance professionals receive some or all of their remuneration in cryptocurrencies, with 42% of respondents being paid at least partly in crypto, such as stablecoins and/or company tokens
- Among the few who receive stablecoins, 78% receive USDC
- Cryptocurrency pay is low across the board, but it’s even lower for CFOs. Nearly all of them are paid in fiat, with only a few receiving part of their compensation in crypto
- Majority of the professionals surveyed work for startups and small and medium-sized businesses (SMB)
- Women earn 46% less than men in Web3 finance roles
- Remote working is also the standard for web3 CFOs, with 55% working only remotely and 92% doing so at least partially
When it comes to the age profile of finance workers in Web3, the overwhelming majority of respondents are in their thirties. Professionals under 30 and over 50 are poorly represented in this study.
You can access the full report here.
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