Though the value of cryptocurrencies is far from being equal to its record height that was observed lat year, the same can’t be said about the demand for blockchain engineers at the labor market. The world has never seen such a demand for these specialists before.
Growth of Salaries
According the recent data provided by a San Francisco-based recruiting company called Hired, blockchain engineers have a real opportunity to earn between $150,000 and $175,000 annually on average. At the same time software engineers working with traditional technologies earn less: $135,000 on average.
Given this fact, it has been concluded that today engineers working with blockchain technology earn as much as developers who specialize in artificial intelligence do and their salaries are higher than salaries of any other technical specialists.
Growth of Demand
Taking into consideration the constantly growing demand for specialists with expertise in blockchain technology, the growth of salaries is quite explicable. Today more and more companies with prominent names including but not limited to Facebook, Amazon, IBM and Microsoft are entering the world of blockchain and cryptocurrencies and are starting to develop projects on base of this technology. As a result, they need specialists how have related skills and background.
The first wave of job ads seeking specialist that have knowledge in blockchain was noticed at the end of 2017, when cryptocurrencies and blockchain became known for a wide audience. Nevertheless, since that time the number of such posts aimed at finding of blockchain engineers has risen by 400 per cent.
CEO of Hired, Mehul Patel said that such a demand is a consequence of a very limited supply. This factor is also a reason of high salaries that are even continuing their growth.
This opinion was fully confirmed by Dustin Welden, who is an employee of Seattle-based Globys and is currently working on a project that is aimed at integration of accounting services with the help of the cutting-edge technology. He said:
“When my title became ‘principal blockchain engineer,’ it became relentless. I get interview requests every day on LinkedIn now.”
Though blockchain engineers are in high demand right now, it doesn’t mean that the requirements are very low and practically everybody can easily enter this profession without any special skills and knowledge. According to Patel, if somebody wants to build blockchain technology, this person “has to get that talent”.
A lot of professionals working with this emerging technology say that to become a blockchain specialist, an engineer has to possess deep knowledge in networking and database design. Moreover, cryptography computing skills are also extremely required.