- A Glassdoor study found that the demand for blockchain increased by 300% compared to last year
- Glassdoor reported that the initial median salary for blockchain job openings was higher than $ 32,000 compared to the median US wage, with an increase of 61.8%.
- Despite the problems in the current cryptography market, blockchain technology seems to have a bright future
For those in the United States, the economy continues to push ahead at full steam. According to a recent working report by the Bureau of Labor Statistics for the month of October, the US economy added 250,000 jobs to reach an unemployment rate of 3.7%, extending a record series of 97 consecutive months of growth. This is great news for Americans in the labor market as unemployment maintains a minimum of 49 years; however, there is an area of u200b u200bthe economy that is witnessing even greater growth work related to blockchain. A recent Glassdoor study found that blockchain job openings in the United States increased by 300% over last year and wages are rising as well. Even with the drastic drop in bitcoin and other cryptocurrency prices, those with blockchain skills are a hot product in the technological workforce.
The Glassdoor study found a significant increase in demand from employers looking for talent in the blockchain space even after the price of bitcoin has fallen dramatically. As of August 2018, the website reported 1,775 new blockchain jobs in the United States. That number represents a year-on-year increase of 300% compared to 2017. The good news for those working in the business world is that numbers have not been influenced by bitcoin price volatility.
During the so-called "crypto-mania" race during the end of 2017, Glassdoor has calculated unique position openings in the 695 – 748 range, compared to current openings that more than double those. Regardless of market volatility, employers are still looking for talent in the blockchain space like never before. A further contribution to the data is the Upwork Q1 2018 Skills Index, which brings together the 20 fastest-growing skills for freelancers and contractors looking for contractors. According to the report, blockchain was the fastest growing skill set.
In addition to the growth of employers seeking a family talent with blockchain technology, there is even more good news for those in space: pay. While those with technical skills already tend to control higher-than-average salaries, job openings in the blockchain space offer significantly higher salaries than most others.
Glassdoor reported that the average initial salary for blockchain job openings was $ 84.884 compared to the median salary in the United States of $ 52.461. The difference in salary is substantial, to say the least, at over $ 32,000 higher than the median salary of the United States, with an increase of 61.8%. The burgeoning industry in the technology sector offers such high salaries for several reasons, including the lack of available blockchain talent and job positions themselves, with the major metropolitan areas topping the list of job vacancies.
Position and ability
One of the reasons why such an initial pay is high is due to the place where the jobs are located. As often happens in the world of technology, big cities like New York City and San Francisco are at the top of the list of American cities with openings of checkpoints, followed by expected places like San Jose, Chicago, Seattle, Boston and Los Angeles. Outside the United States, other international hubs are also looking for blockchain talent. London, Singapore, Toronto and Hong Kong are ranked first among blockchain job offers in international labor markets. Even the variety of companies looking for space workers is huge and companies like IBM, Facebook, JPMorgan and many others are just some of the names in the mix. With a higher average cost of living, higher wages are a way for companies to encourage talent to come to them, but what kind of talent are they looking for?
Chai Shepherd is a consultant for the Resto project, a blockchain solution for restaurant services, and co-founder of PLAAK, a project aimed at simplifying the implementation of the blockchain. He is a well known encrypted investor and has a lot of experience in finding new talent. Through her industry experience, Shepherd has noted particular abilities that stand out among employers and innovators and knows that it is not always easy to find the qualified developers needed.
Also in the search for Glassdoor is included the kind of talent that employers are trying to attract. According to the data, the main employers have sought candidates for software engineering, which is not surprising given that more and more companies are trying to implement blockchain technology on their platforms. The software engineer entries alone accounted for about 20% of all open work publications on Glassdoor related to blockchain technology. Other sought-after positions included analysts' report managers, product managers, front-end engineers, and technology architects, though all in one-digit percentages of openings.
So, what does all this mean? For beginners, Glassdoor's insights show that even with the strong volatility of bitcoins and other cryptocurrency prices, blockchain technology seems to remain relevant. In fact, the insertions related to job openings linked to the blockchain have increased (by far) only after the drastic decline in the cryptocurrency markets. This is good news for those interested in the field of study and work.
In addition, research shows that employers evaluate individuals skilled enough to offer a much higher initial pay for those who have the know-how to help implement blockchain technology.
For an emerging industry such as cryptocurrencies, research is not so much a surprise, but an affirmation for the future of the industry to come. What we are seeing happens is following a similar pattern in the world of technology for those with artificial intelligence (AI) and machine learning abilities. Although the regulatory status of cryptocurrencies remains unclear in the United States, growth in the technology-related sector is not. Looking to the future, the blockchain industry is ready to continue its rapid growth.
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