Trends: Demand for Blockchain Specialists

Image Source: bnn.io

“ … much larger enterprises have stepped into the fray, infrastructural projects abound, and many of yesteryear’s plucky startups have grown into formidable businesses in their own right with growing hiring needs.”—Media

Blockchain continues to be a hot item for industry and cryptocurrency in the coming years. More and more companies are looking to adopt blockchain within the next five years. With growing demand for smart contracts, IoT, security, and more—I wondered what the jobs market outlook is for blockchain developers and programmers.

Indeed the blockchain industry continues to see a global expansion—with a concurrent demand for blockchain jobs needing to be filled. Skills in demand include coding, business developers, user experience (UX) specialists, project managers, and more.

According to Media the demand for blockchain talent and “creative roles continue on an upwards trajectory as the industry shows its resilience and moves into the next phase of development.”

Image Source: hackernoon.com – Blockchain job demand per year.

 

In the early years, blockchain development was driven by Bitcoin and cryptocurrency startups, ICO’s and token launches. Today, corporate enterprises from the fintech sector to healthcare, and to nearly every business sector one can imagine—is now looking at blockchain beyond cryptocurrency to solve business issues within their industries.

Based on Media’s assessment, companies “have stepped into the fray, infrastructural projects abound, and many of yesteryear’s plucky startups have grown into formidable businesses in their own right with growing hiring needs.”

Blockchain Experts in Demand

According to Julia Magas writing for Cointelegraph “blockchain experts are still in demand, especially in the U.S.”

Based on a report by Upwork—a leading global freelance network—blockchain technology was among the top specialties where demand grew the fastest in 2018. For 2019, according to Hired , the demand for blockchain engineers grew by 517%.

Remote job roles are in less favor. Today companies prefer regular full time employees to ensure higher quality candidates. Companies made this shift, largely due to the entry of incompetent specialists in the market, reported Magas.

According to Media, March 2019, a report by Hard Fork showed that Glassdoor was advertising for over 5,700 jobs globally, and of those, 2,616 positions were available in the U.S. alone, accounting for nearly half of global demand.

Blockchain Salary in Review

Blockchain specialists continue to make a better than average salary when compared to last year. According to Glassdoor—annual salaries can range from $17,000, to as much as $271,000.  The average falls within the range of $81,000 to $144,000, based on the August 2018 report. According to Indeed, the blockchain specialty range was from $75,000 to $90,000, with an average salary of $82,500. (Magas)

The U.S continues to pay the highest compensation, averaging over $109,000, which is followed by those working remotely—just over $107,000. The Asian market is paying $98,500 on average, while Europe is trailing in salaries averaging $65,883. (Magas)

Salary by Role

An analysis of AngelList data by Media, showed that among the top 9 most sought after blockchain roles—four roles are purely technical. The following is a review of 10 roles for blockchain employment with expected salary.

      • Software Engineer: $90,000-$145,000
      • Tech Architect: $100,000-$160,000
      • Product Manager: $85,000-$130,000
      • Risk Analyst: $85,000-$105,000
      • Analyst Relations Manager: $50,000-$125,000
      • Front End Engineer: $70,000-$125,000
      • Legal Counsel: $100,000-$190,000
      • Business Analyst: $80,000-$105,000
      • Crypto Community Manager: $35,000-$95,000
      • UX/UI Blockchain Designer: $80,000-$140,000
        _____________________________________________________________________________
        (1)Source:  Media (https://media.consensys.net/the-blockchain-jobs-report-2019-b2b911426c34)

Facebook Hiring Blockchain Specialists

As we look at roles that are in demand, Facebook serves as a case study. In working to develop and increase its blockchain development for the Libra cryptocurrency and its wallet app—Calibra, Facebook was looking to hire 30 blockchain roles in June.

According to Anna Baydakova (Coindesk)—“Facebook is looking to hire more than 30 professionals to ramp up its blockchain work, including the Libra cryptocurrency.”

Facebook is also looking to fill a number of other blockchain roles including a technology communication director, program manager, growth product manager, technology communications manager, brand strategy manager, software engineering manager—among a number of other creative roles.

Conclusion

Blockchain projects continue to be developed and the demand for a blockchain skills continues to trend upwards. The U.S. continues to lead in the demand for blockchain expertise, and Asia is following close behind.

As blockchain continues to mature, and corporations continue to find applicable use case applications for blockchain, the global demand for talent continues unabated.

 

Samuel H. is an author, writer and speaker with over twenty years in the educational technology sector.

Contact Samuel

Comments

Recommended Stories

The Promise of Blockchain with Electronic Medical Records

Medicalchain Explainer Video - Blockchain Technology for Electronic Health Records

JPMorgan to Release E-Wallet – Is a Cryptocurrency Wallet Next?

Blockchain IoT for Healthcare Delivery

Crypto Tokens Are the New Holy Grail for Customer Rewards

How Music Goes on the Ethereum Blockchain with the ICO of K-Tune

Using Blockchain to Save the World – TreeCoin

G20 Financial Leaders Find Stablecoins Too Risky

Blockchain and IoT: Emerging Technologies in Healthcare