Ionomeric binders in catalyst layers, abbreviated as ionomers, play an essential role in the performance of polymer–electrolyte membrane fuel cells and electrolyzers. Due to environmental issues associated with perfluoroalkyl substances, alternative hydrocarbon ionomers have drawn substantial attention over the past few years. This review surveys literature to discuss ionomer requirements for the electrodes of fuel cells and electrolyzers, highlighting design principles of hydrocarbon ionomers to guide the development of advanced hydrocarbon ionomers.