How to get a High Paying Job in Web3 as a Developer

Harkirat Singh

14 Apr 202412:24

Summary

TLDRThe speaker shares their journey in the web 3 space, starting from learning about it two years ago to landing a full-time job offer within 1.5 years. They detail their initial exploration in a metaverse startup, joining a Solana developer community, and eventually creating a token-gated application that caught the attention of senior leaders. This led to a full-time offer with a significant pay increase. The speaker then discusses their decision-making process between two job offers, highlighting the potential for growth and impact over immediate compensation. They emphasize the importance of learning on the job, the value of equity during a bear market, and the unpredictability of outcomes in the tech industry. The story concludes with a reflection on the speaker's experience and advice for those looking to break into web 3 or similar fields.

Takeaways

🚀 Started learning about web 3 around 1.5 years ago, which led to a full-time offer in the field.
🌐 Gained initial exposure to web 3 through a metaverse startup and a successful hackathon project.
🤝 Joined a closed community of Solana developers and received a grant to create educational content.
📈 The transition from learning phase to job phase was marked by applying to companies with a focus on Solana development.
💼 Received a full-time offer with a generous salary and equity, which was a 30% increase from the previous job.
🎒 Chose to join a startup called Backpack despite a lower base salary due to its high potential for upside.
💪 Contributed heavily to Backpack during a critical 15-day period, which led to a non-traditional 'interview' and selection.
📉 Faced challenges with the collapse of FTX, which impacted Backpack's financial runway, leading to intense work periods.
🛠️ Worked on building a cryptocurrency exchange from scratch, gaining valuable experience in core finance and web 3 technologies.
🌍 Moved between different locations (India, US, Dubai, Japan) for work, adapting to various work environments and company needs.
📈 Experienced a significant increase in the value of the NFTs allocated as bonuses, leading to a substantial financial gain.
🔄 Transitioned to another exchange based in Europe, focusing on writing scripts for farming airdrops and working with crypto whales.

Q & A

How did the speaker first get introduced to web 3?
-The speaker first heard about web 3 around February 2022 while working at a metaverse startup. The interest in the technology grew as they participated in a hackathon at their company and built a simple web3 application.
What were the two key actions the speaker took to learn web 3?
-The speaker joined a closed community of Solana developers and received a grant from the Solana foundation to create a video series on Solana, which helped them learn web 3 development.
How did the speaker land their first full-time offer in web 3?
-The speaker landed their first full-time offer by reaching out to the founder of an open-source company, showcasing their background in computer science, experience in freelancing and consulting, and their knowledge in Solana development.
What was the speaker's first job offer and what was the compensation?
-The speaker's first job offer was as an SDK developer with a base salary of around $250k and a significant stock option package, which was almost a 30% increase from their current salary.
Why did the speaker choose to join Backpack over the first company that offered them a job?
-The speaker chose to join Backpack due to the potential for a larger upside in the form of bonuses and the opportunity to work with a Solana-based team, despite the lower base salary compared to the first offer.
How did the collapse of FTX affect Backpack and the speaker's situation?
-FTX's collapse led to a significant reduction in Backpack's runway as FTX was one of its major investors. This situation made the speaker realize the need to work hard to ensure job security and the company's survival.
What major event at Backpack did the speaker contribute to heavily?
-The speaker contributed heavily to the development of the wallet leading up to the NFT Mint event in March 2023, which helped the company raise funds and extend its runway.
What did the speaker learn from building a cryptocurrency exchange at Backpack?
-The speaker learned core finance concepts and the technical aspects of building a cryptocurrency exchange, including indexing the blockchain, handling deposits and withdrawals, and solving standard web2 problems.
How did the speaker's compensation evolve over time?
-Initially, the speaker's compensation was a base salary of $200k with NFTs as bonuses. Over time, as the market improved, the value of these NFTs increased significantly, leading to a substantial financial gain for the speaker.
What advice does the speaker give for someone looking to learn and work in web 3?
-The speaker advises to join a company with solid engineers, as learning compounds quickly in such an environment. They also suggest considering equity as a potential bonus, especially during a bear market when companies are more likely to offer it.
What is the speaker's perspective on the unpredictability of the web 3 industry?
-The speaker acknowledges the unpredictability of the web 3 industry and emphasizes the importance of having strong conviction in the technology. They also highlight the role of luck in choosing the right team and being in the right place at the right time.

Outlines

00:00

🚀 Web3 Learning Journey and First Job Experience

The speaker shares their journey of learning about Web 3, which began about 2 years ago, and securing their first full-time job offer 1.5 years ago. They break down the process into three phases: learning, job, and making money. The speaker emphasizes the importance of community and mentorship in their learning phase, joining a Solana developers' community and receiving a grant from the Solana foundation. They also discuss their first job offer, which was a result of their proactive approach and showcasing their skills in a hackathon. The speaker highlights the significance of the right timing and being in the right place, as well as the value of persistence and hard work in the face of uncertainty.

05:01

💼 Navigating the Challenges and Rewards of the Tech Startup World

In this paragraph, the speaker delves into their experience working at a tech startup, Backpack, after leaving a more stable position. They describe the initial challenges of feeling like an imposter and the pressure of proving themselves in a new environment. The speaker also talks about the financial struggles of the company due to the collapse of FTX, a major investor, and how this influenced their work ethic and commitment. They share the intense work period leading up to a significant event, The NFT Mint, and how it temporarily increased the company's liquidity. The speaker reflects on the fluctuating value of their NFT bonuses and the strategic decision-making involved in their career choices.

10:02

🌐 Adapting to Industry Changes and Leveraging Opportunities

The speaker concludes their story by discussing the transition to working at another exchange based in Europe, highlighting the adaptability required in the fast-paced world of web 3 and cryptocurrency. They share insights on the importance of being in the right industry at the right time and how market conditions can significantly impact career opportunities. The speaker also emphasizes the value of learning from peers and real-world experiences, suggesting that joining a solid team can accelerate one's learning curve. They provide advice on negotiating equity and token allocations during a bear market and the potential for significant returns during a bull market. The speaker ends with a reflection on the unpredictability of the industry and the importance of trusting the journey, encouraging others to explore web 3 and related technologies for potential career growth and financial success.

Mindmap

Keywords

💡Web 3

Web 3, also known as Web 3.0, refers to the next generation of the internet that is decentralized, secure, and user-centric. In the video, the speaker shares their journey of learning about Web 3, a technology that encompasses blockchain, cryptocurrencies, and smart contracts, which allow for secure and transparent transactions without intermediaries. The speaker's experience with Web 3 began with a simple application they built for a metaverse company, which caught the attention of senior leaders and propelled their career in this field.

💡Learning Phase

The learning phase is the initial stage of acquiring knowledge or skills in a particular field. In the context of the video, the speaker describes the learning phase as the period when they were first introduced to Web 3, learning the basics, and developing their skills through building projects and joining a community of developers. This phase is crucial for anyone looking to enter a new technological domain and is often characterized by a steep learning curve and a lot of experimentation.

💡Job Phase

The job phase refers to the period when an individual starts applying their newly acquired skills in a professional setting. In the video, the speaker's job phase began after they had built a simple Web 3 application that caught the attention of their company's senior leaders. This led to them receiving a full-time job offer and starting their career in Web 3 technology. The job phase is where theoretical knowledge is applied in real-world scenarios, and the individual begins to contribute to projects and teams, further honing their skills.

💡Making Money Phase

The making money phase is when an individual starts to monetize their skills and knowledge in a particular field. In the video, this phase is exemplified by the speaker's various endeavors after becoming proficient in Web 3 technology. This includes working with companies, consulting, and creating ad hoc scripts for cryptocurrency-related activities. The making money phase is not only about financial gain but also about recognizing the value of one's skills and leveraging them to create opportunities.

💡Solana

Solana is a high-performance blockchain platform for decentralized applications and cryptocurrencies. It is known for its fast transaction processing and low fees. In the video, the speaker's journey into Web 3 began with Solana, as they joined a closed community of Solana developers and received a grant from the Solana foundation to create educational content. Solana serves as a crucial part of the speaker's narrative, as it was the ecosystem in which they initially developed their skills and built their reputation.

💡Metaverse

The metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual reality. It is a space where users can interact with a computer-generated environment and other users. In the video, the speaker was working at a metaverse startup when they first heard of Web 3, which sparked their interest in the technology. The concept of the metaverse is closely tied to Web 3 as it often relies on blockchain and cryptocurrency for transactions and asset ownership within the virtual world.

💡Hackathon

A hackathon is an event where programmers and other stakeholders involved in software development collaborate intensively on a project. Hackathons often have a specific theme or technology focus and can last from a few hours to several days. In the video, the speaker participated in a hackathon at their metaverse company, which was the catalyst for their first Web 3 application. Hackathons are seen as opportunities for innovation and learning, as they encourage rapid prototyping and problem-solving.

💡Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms when certain conditions are met. In the context of the video, smart contracts are a fundamental component of Web 3 technology, allowing for trustless and transparent transactions without the need for intermediaries. The speaker's experience with smart contracts began with their introduction to the Solana ecosystem and continued to be a significant aspect of their professional work.

💡Equity

Equity refers to ownership rights in a company, often granted to employees as part of their compensation package. It represents a percentage of the company's shares and can be a long-term investment that may increase in value as the company grows. In the video, the speaker discusses receiving equity as part of their job offer, highlighting the potential for financial gain if the company performs well. Equity is a way for employees to have a direct stake in the success of the company they work for.

💡NFTs (Non-Fungible Tokens)

NFTs, or Non-Fungible Tokens, are unique digital assets that are indivisible and cannot be exchanged on a one-to-one basis with other tokens. They are often used to represent digital art, collectibles, or real estate within the metaverse and are built on blockchain technology. In the video, the speaker's company, Backpack, issued NFTs as part of the team's compensation. The value of these NFTs fluctuated over time, and their eventual increase in value contributed significantly to the speaker's earnings in the making money phase.

💡Bull and Bear Market

A bull market is a financial market condition where prices are rising or are expected to rise, indicating a positive sentiment among investors. Conversely, a bear market is characterized by falling prices and a pessimistic outlook. In the video, the speaker discusses how their experience with NFTs and the overall market conditions influenced their financial outcomes. The speaker also shares advice on how to navigate these market conditions, suggesting that a bear market might be an opportune time to join a company with solid potential, as there is less competition and potentially more significant equity or token allocations.

💡Imposter Syndrome

Imposter syndrome is a psychological pattern where individuals doubt their accomplishments and have a persistent fear of being exposed as a 'fraud'. In the video, the speaker mentions feeling like an imposter when they first joined Backpack, despite their previous achievements. This feeling is common among people who find themselves in new or challenging environments, and it can sometimes hinder their confidence and performance. However, with time and experience, the speaker overcame this feeling and successfully contributed to their company's growth.

Highlights

The individual started learning about web 3 around 2 years ago, with their first full-time offer coming 1.5 years after.

The learning phase of web 3 involved joining a closed community of Solana developers and receiving a grant from the Solana foundation.

The first job offer came after building a simple web3 application that caught the attention of senior leaders at the company.

The job application process included a mix of data structures and algorithms, live coding, and system design rounds.

The first job offer was generous, at around 250k base plus stocks, which was a 30% increase from the individual's current salary.

The individual chose to join a company called Backpack, despite a slightly lower base salary, due to the potential for significant upside.

After joining Backpack, the individual faced the challenge of FTX's collapse, which was a major investor in Backpack, significantly reducing the company's runway.

The individual worked extensively on the wallet for Backpack, leading up to the NFT Mint event in March 2022.

The NFT Mint event provided the team with NFTs as bonuses, which increased the company's runway and the employees' potential earnings.

The individual moved from working on Backpack's Solana integrations to contributing to the development of a cryptocurrency exchange.

The learning phase continued with a focus on core finance and building a cryptocurrency exchange from scratch.

The individual's股权 in Backpack vested after a year, coinciding with a market surge that significantly increased the value of their NFTs.

The individual's experience at Backpack provided valuable insights into the importance of conviction and perseverance during bear markets.

The individual transitioned to working for another exchange based in Europe, focusing on writing scripts for crypto whales and farming airdrops.

The individual emphasizes the importance of joining a solid team of engineers for rapid learning and growth in the tech industry.

The individual advises considering equity as zero and focusing on a solid base salary, especially during bear markets when negotiating for NFTs or tokens is easier.

The individual reflects on the unpredictability of success in the tech industry, highlighting the role of luck and timing in achieving significant outcomes.

The individual concludes with the advice that learning a technology well and joining the right team can lead to industry expertise and potential wealth creation.