Crypto Industry Experiences Job Market Boom Amid Bull Run
Summary:
The cryptocurrency job market is heating up in line with the industry bull run, with considerable growth in job listings and applications. Apart from well-established crypto companies, exchanges are ramping up recruitment efforts, presenting various opportunities for inexperienced or fresh aspirants. Notably, this surge in hiring comes with increasing average salaries. However, experts urge for job seekers to fully understand their career aspirations in the crypto industry and exercise due diligence before making job decisions.
The job market in the cryptocurrency sector appears to be ripening as investor activities spike. A notable increase in job listings and applications on cryptocurrency websites has been reported in parallel with rising crypto values. CryptoJobsList's creator, Raman Shalupau, reported a 20-30% monthly growth in corporate engagement to Cointelegraph. He indicated that most of the attention is from continuing corporations that survived the downward trend, with new companies yet to actively enter the market.
Predominantly during the initial stages of an upward trend, recruitment comes from established companies, which often had a halt in recruitment during a downturn in crypto. The subsequent hiring wave usually arrives when new entrants start to recruit; however, this is more likely to happen later in the cycle.
Shalupau noted that new business breakthroughs and paradigms typically coincide with hiring sprees. However, the new narrative for the current positive trend has yet to surface. He also highlighted that exchanges, being a huge segment of the crypto industry, are stepping up their recruitment.
Research validates that more than 1,000 positions are available with leading operators such as Binance, KuCoin, Coinbase, Kraken and Gemini. Binance and KuCoin lead the way with 350 and 300 vacancies respectively, offering ample opportunities for fresh or inexperienced aspirants.
One appealing aspect of the upward market trend for job applicants is the rise in average pay. According to Shalupau, the average engineering role salary in this industry rose from $137,000 in 2022 to $168,000 in 2024.
Predictably, with the appealing salary package, there was an increase in applications in March. The three preferred hiring locations are the United States, Singapore, and the United Kingdom, closely followed by Hong Kong, India, and Canada. Interestingly, remote working claims the second spot after the United States.
Zara Muktova, head of HR at Cointelegraph, acknowledges this positive trend and encourages job seekers to be sure of their career choice in the crypto industry. She notes that positions in research, product management and project management are much in demand. As the job market is currently promising, it’s crucial to understand what you want for your professional future instead of scattering applications.
Shalupau offers similar words of advice, urging due diligence before entering into contracts and acceptance of roles. Highlighting the dynamic nature of the crypto market, he reminds job seekers that the upward market trend is transient and cautions to seize opportunities while they exist.
Published At
4/4/2024 4:27:00 PM
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