As with any new industry that is surging ahead at a rapid pace, the compensation levels are sky-high, to say the least, and the opportunities are tremendous. To put it in perspective, the median income for a blockchain developer is $130,000 against an average developer’s income median at just $105,000, and that figure is just the tip of the iceberg. In technology hotspots like Silicon Valley or New York, that figure can be as high as $160,000. In Europe, blockchain developers earn between £1,00,000 and £1,10,000 annually.
Delving deeper, some more interesting facts emerge in the exploding Blockchain job market. Take for instance, the demand for blockchain developers on Linkedin. According to CNBC, employers are now actively seeking out blockchain developers, analysts and other specialists as blockchain continues to be a actively used beyond just cryptocurrencies. In a research conducted by Juniper, IT major IBM alone has 400 blockchain technology related projects that currently employ more than fifteen hundred employees. Not to mention, they have more than 150 job openings. The growth of the number of blockchain related job openings on Linkedin, the world’s largest professional network, was more than 400% in 2017 itself.
And the huge demand is only growing. Blockchain is the second most in-demand skill in temporary jobs site Upwork.com, and the number of job postings on Indeed, a leading job board, rose 621% since the end of 2015. Similarly, people claiming qualifications in blockchain specialized jobs have also risen, with more than a one thousand per cent growth in jobs with the keywords “bitcoin”, “cryptocurrency” and “blockchain”.
While many professionals equate blockchain with startups and anonymous geniuses like Bitcoin’s founder or founding group, some of the largest technology companies in the world are also currently hiring in large numbers for their blockchain projects. Deloitte, Capital One, eBay and Uber are just a few examples. Deloitte itself has reported an 800+ strong workforce in the blockchain segment.
Besides the high compensation, blockchain jobs also offer the stability that comes with a steadily growing, worldwide industry. Most startups in the blockchain space also give equity in the company to early employees. Many in this industry also facilitate flexibility and anonymity, enabling highly skilled developers to work in multiple projects remotely if they prefer.
Unlike popular perception blockchain teams are not entirely comprised of developers. In fact, there are several other technical and non-technical roles in every blockchain team. These include project managers, analysts, operations managers and executives, reporting analysts, and even traders. The broad-spectrum of jobs in blockchain is only expected to grow significantly in the years to come, as more industries benefit from this distributed and secure technology.
The era of doctrine is only just beginning, and industry experts agree that it is expected to see a huge explosion in job opportunities within the next three years. Some even claim that it will overtake the erstwhile mainstay of high-end technology jobs like data science.