Research Finds Blockchain Job Market ‘Primed For Rapid Growth’

It specifically tracked what positions were most available, where those jobs were located, the companies most hiring, and the average salary compared to other types of jobs.

By The Numbers

A macroscopic view shows that the number of jobs in the blockchain field is higher than ever, despite the current bear market and value lost from the all-time highs set last December. The study found that, in August of this year, there were 1,775 unique job openings in the blockchain field — which is 1,329 more than were available in August 2017. The team overlayed a graph of the price of Bitcoin from April 2017 to August 2018 against a weighted plot of job openings and found that, in early 2017, job openings were increasing steadily with the price of Bitcoin until December 2017, when the price exploded to unprecedented $20,000 levels. Since the tipping point at the beginning of 2018 that sent the price of Bitcoin descending back to $6,000 levels, jobs openings have seemingly grown in an inverse trend — as the price goes lower, more jobs become available. (And vice-versa.)

Pieces Of The Puzzle

Considering a job in the blockchain field? You might want to try giving New York City or San Francisco a shot, as the two cities offer up nearly half of all the blockchain jobs in the industry in the United States. As far as the rest of the world, London is currently the top-spot for blockchain jobs, making up 16 percent of all openings — followed by Singapore, Toronto, and Hong Kong, respectively. It can be expected that, because most of these jobs are located in major cities, salaries are also a bit above the average. In the United States, the median salary falls between $60,000 and $70,000 per year — a bit below the average blockchain positions’ salary which falls between $80,000 and $90,000. It should be no surprise that the majority of these jobs require technical and specialized skills, particularly in coding and computer engineering. Meanwhile, the field is becoming increasingly competitive. Most jobs that are available are for software engineers, which make up nearly 20 percent of the total market. Other popular positions include analyst relations managers, product managers, and front-end managers. With large financial institutions beginning to get their feet wet in the blockchain industry, bigger investments and a growing need for workers that have knowledge and experience in the field are soon to follow. Glassdoor found that ConsenSys, IBM, and Coinbase have the most job offerings — the three companies making up nearly 30 percent of all open positions. It is this author’s opinion that jobs in the blockchain and cryptocurrency sector will only continue to grow over the next three to five years. Jobs in this field pay competitive rates and can usually offer flexible schedules and can even be done remotely in many cases. This is an opinion also reflected by the Glassdoor study. Do you believe the Glassdoor’s study to be an accurate representation of the current job market in the blockchain and cryptocurrency space? Are you working, or know someone who works a blockchain job? Let us know in the comments below!