Ethereum developer salaries: median at $140K versus $300K market — the gap threatening the core of the network

Median $140,000 vs $300,000: Ethereum core contributors are paid about half compared to external offers, a gap that increases pressure on talent retention and, ultimately, on the protocol’s security.

In a recent analysis by Protocol Guild and also confirmed by the Developer Report by Electric Capital (2024), it emerges that these developers forgo higher market compensations, with a gap of about 53% compared to external benchmarks.

The survey, based on 111 responses collected from 11 organizations active in the core of Ethereum, reviews salaries, incentives, and grants provided, taking into account the competitive framework offered by private companies and large tech entities.

Below are the key data, the causes of the gap, and possible solutions to the issue.

Quantitative analyses and interviews with client managers and project leaders confirm the numerical synthesis: the cash discrepancy is marked and only partially mitigated by grants and vesting mechanisms.

According to the Developer Report, which analyzes over 100 million open-source commits, the demand dynamics for infrastructure skills in the crypto sector remain in strong growth, amplifying competitive pressure on salaries.

Index

• Methodology and field of investigation
• Key numbers and market differential
• Causes of the pay gap
• Incentives: equity and tokens
• Compensation by role and experience
• Market pressure and external offers
• Protocol Guild and support channels
• Risks for the ecosystem if the gap persists
• Possible actions to reduce the gap
• External context: what the benchmarks say
• Sources and methodological notes

Methodology and Field of Investigation

For transparency, first the outlines of the sample.

• Participants: 111 responses from 11 organizations contributing to the core of Ethereum (engineering and research).
• Period: survey conducted between August and September 2025.
• Scope: technical roles related to client, research, and coordination; globally distributed teams.
• Note on the perimeter: the “approximately 190 contributors” mentioned in the payments according to Protocol Guild represent the grant recipients from 2022 and do not necessarily coincide with the 111 respondents to the compensation survey.
• Currencies: amounts expressed in US dollars.

Key Numbers and Market Differential

The analysis highlights a structural gap between the base compensation of core contributors and external market offers.

• Base salary (core median): $140,000.
• Market offers (external): median around $300,000, with an estimated average around $359,000; data in line with what emerges from industry benchmarks Levels.fyi and the Stack Overflow Developer Survey.
• Difference: the core developers record a gap of approximately −53% compared to the market median (140K vs 300K), as confirmed by Protocol Guild.
• Upside: only 37% of the sample reports having access to equity components or tokens, in addition to cash.
• Protocol Guild: as of September 9, 2025, over $33 million have been disbursed in the form of grants; the median formally received is approximately $67,121.
• Median overall core compensation (cash + Guild): approximately $207,121, still lower compared to external offers.

In summary, even considering the grants, the pay gap remains wide, questioning the competitiveness of core teams compared to the levels offered by L1/L2 and private companies.

Causes of the Pay Gap

The reasons behind the gap are primarily institutional and related to the traditional funding model of core Ethereum.

• Many core employers are non-profit entities or academic institutions, which operate with imposed limits on equity and bonuses.
• Token emissions are often tied to specific project policies and on-chain incentive schemes, not always accessible at the team level.
• Few organizations offer structured and transparent upside packages, verifiable and comparable with those of the private sector.

Incentives: equity and tokens

The distribution of financial upsides is fragmented. In client teams and research groups, equity and tokens are rare or limited, accentuating the gap compared to the private sector, where these components form a central part of the compensation package.

Compensation by Role and Experience

The medians vary depending on responsibilities and seniority, although some figures appear counterintuitive and may require further verification.

By role

• Researchers: median cash around $215,000.
• Client developer and coordinators: median around $130,000.

From experience

• 7–8 years: median of approximately $212,000.
• 9+ years: median around $150,000, a figure that might indicate an “inverted seniority premium” [data to be verified].

This anomalous pattern could reflect a preference for flexibility and commitment to the project’s mission, or the phenomenon of very senior profiles migrating towards positions with more generous equity packages outside the core.

Market Pressure and External Offers

About 40% of participants stated they received external offers in the past year, often from L1/L2 companies or crypto entities capable of offering significantly higher packages. In one reported case, an offer reached $700,000, but it was declined to remain loyal to the core mission.

Additionally, the competition extends to Big Tech, which is constantly searching for profiles with infrastructural skills and high impact.

Protocol Guild and Support Channels

Since its launch in 2022, Protocol Guild has distributed over $33 million in grants to approximately 190 contributors, thanks to on-chain vesting mechanisms that enhance income predictability. Although this tool does not entirely bridge the compensation gap, it provides significant support for talent retention.

Risks for the ecosystem if the gap persists

• Turnover increasing and loss of institutional memory.
• Slowdown of protocol upgrades and roadmap.
• Greater exposure to external pressures and potential targeted acquisitions.

Possible Actions to Reduce the Gap

• Greater involvement of ecosystem financiers in the creation of sustainable funds dedicated to the core.
• Use of on-chain tools to ensure transparent and time-bound grants.
• Retention policies that integrate base salary, equity/token components, and non-financial benefits.

External context: what the benchmarks say

The compensation levels, which range between $300K and $359K for external offers, align with the total packages reported by independent tech industry sources for senior and staff figures, as confirmed by Levels.fyi and the Stack Overflow Developer Survey. These benchmarks highlight the tough compensation competition that core teams must contend with.

Conclusion

The compensation for Ethereum core developers is significantly lower compared to external offers.

Without targeted interventions that promote an increase in funding, equity/token integrations, and effective retention strategies, there is a risk of compromising the network’s ability to evolve in a secure and predictable manner.

While representing a fundamental support, on‑chain tools and Protocol Guild funding cannot replace a broader commitment on an ecosystem scale.