Bitcoin and blockchain jobs are booming — and they pay well

Research shows that employers are working to find more talent in the blockchain space, and they're willing to pay higher rates for it.

  • A study by Glassdoor found that demand for blockchain work has risen 300% since last year.
  • Glassdoor reported the median starting salary for blockchain job openings was over $32,000 higher than the median US salary, an increase of 61.8%.
  • Despite the issues in the current crypto market, blockchain technology appears to have a bright future.

For those in the United States, the economy continues to push forward full steam ahead. According to a recent jobs report from the Bureau of Labor Statistics for the month of October, the US economy added 250,000 jobs to reach an unemployment level of 3.7%, extending a record streak of 97 consecutive months of growth. That's great news for Americans in the job market as unemployment maintains a steady 49-year low; however, there's one area of the economy that's seeing even more growth: blockchain-related jobs. A recent study from Glassdoor found that blockchain-related job openings in the US have increased 300% compared to last year and that the salaries are growing too. Even with the drastic price drop in bitcoin and other cryptocurrencies, those with blockchain skills are a hot commodity in the tech workforce.

Growth in demand

Glassdoor's study found a significant increase in demand from employers looking for talent in the blockchain space even after the price of bitcoin dropped dramatically. As of August 2018, the website reported 1,775 unique blockchain-related job opening in the US. That number represents a 300% year-over-year increase from 2017. The good news for those in the workforce is that the numbers remained essentially unaffected by bitcoin price volatility.

During the so-called "crypto-mania" bull run that occurred during the end of 2017, Glassdoor calculated unique position openings in the range of 695 - 748, compared to the current openings which more than double that. Regardless of the volatility in the markets, employers are still seeking talent in the blockchain space like never before. Further contributing to the data is Upwork's Q1 2018 Skills Index, which ranks the 20 fastest-growing skill sets for freelancers and companies looking for contractors. According to the report, blockchain was the number one fastest-growing skill set.

Job compensation

Besides a growing number of employers looking for blockchain talent, there's more good news for those in the space: the pay. While those with technical skills already tend to command higher than average salaries, job openings in the blockchain space are offering significantly higher salaries than most others.

Glassdoor reported the median starting salary for blockchain job openings was $84,884 compared to the median salary in the US of $52,461. The difference in salaries is substantial, to say the least, at over $32,000 higher than the median US salary, an increase of 61.8%. The burgeoning field in the tech sector is offering such high salaries for a few reasons, including the lack of available talent in blockchain and the locations of the jobs themselves, with major metropolitan areas topping the list of locations for job openings.

Location and skills

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Golden Gate Bridge

One of the reasons for such high starting pay with job openings is due to where the jobs are located. As is often the case with the tech world, major cities like New York City and San Francisco top the list of American cities with blockchain job openings, followed by expected locations like San Jose, Chicago, Seattle, Boston and Los Angeles. Outside the United States, other international hubs are seeking blockchain talent as well. London, Singapore, Toronto, and Hong Kong claim the top of the list for blockchain job openings in the international job markets. The variety of companies looking for workers in the space is huge as well, and companies such as IBM, Facebook, JPMorgan and many others are only a few of the names in the mix. With higher average cost of living, larger salaries are a way for companies to incentivise talent to come to them, but what type of talent are they looking for?

Chai Shepherd is an advisor to the Resto project, a blockchain solution for food services, and Co-Founder of PLAAK, a project aimed at making blockchain implementation easier. He is a well-known crypto investor and has a lot of experience finding new talent. Through his experience in the industry, Shepherd has noticed particular skills that stand out to employers and innovators and knows that it's not always easy to find skilled developers.

"Blockchain companies are looking for Internet-of-Things (IoT), Java, Javascript, C++, and Golang developers, as well as for those with knowledge in cryptographic algorithms. However, developers are getting harder to find as a lot of this type of work is mainly research and development (R&D) that's not normally required in a technology organization. Universities are currently teaching solidity code, but I feel that there is more to blockchain than just ETH solidity smart contracts."

Also included in Glassdoor's research is the type of talent employers are looking to attract. According to the data, software engineering is the most sought-after occupation, which is unsurprising as more companies look to implement blockchain technology into their platforms. Software engineer listings alone accounted for nearly 20% of all job opening postings on Glassdoor related to blockchain technology. Other sought-after positions included analyst relations manager, product manager, front-end engineer, and technology architect, though all in the single-digit percentages of openings.

So, what does all this mean? For starters, insights from Glassdoor show that even with the hefty volatility of bitcoin and other cryptocurrency prices, blockchain technology appears to be staying relevant. In fact, listings for blockchain-related job openings have only increased (by a lot) after the drastic decline in the cryptocurrency markets. That's good news for those interested in the field of study and work.

Additionally, the research shows that employers value knowledgeable individuals enough to offer much higher starting pay for those with the know-how to help implement blockchain technology.

For a nascent industry like cryptocurrencies, the research comes not so much as a surprise, but as an affirmation for the future of the industry to come. What we're seeing happen is following a similar pattern in the tech world for those with artificial intelligence (AI) and machine learning skills. Though the regulatory status of cryptocurrencies remains unclear in the US, the growth in the industry related to the underlying technology is not. Looking forward, the blockchain industry is poised to continue its rapid growth.

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Why Epicurean ideas suit the challenges of modern secular life

Sure, Epicureans focused on seeking pleasure – but they also did so much more.

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Culture & Religion

'The pursuit of Happiness' is a famous phrase in a famous document, the United States Declaration of Independence (1776). But few know that its author was inspired by an ancient Greek philosopher, Epicurus. Thomas Jefferson considered himself an Epicurean. He probably found the phrase in John Locke, who, like Thomas Hobbes, David Hume and Adam Smith, had also been influenced by Epicurus.

Nowadays, educated English-speaking urbanites might call you an epicure if you complain to a waiter about over-salted soup, and stoical if you don't. In the popular mind, an epicure fine-tunes pleasure, consuming beautifully, while a stoic lives a life of virtue, pleasure sublimated for good. But this doesn't do justice to Epicurus, who came closest of all the ancient philosophers to understanding the challenges of modern secular life.

Epicureanism competed with Stoicism to dominate Greek and Roman culture. Born in 341 BCE, only six years after Plato's death, Epicurus came of age at a good time to achieve influence. He was 18 when Alexander the Great died at the tail end of classical Greece – identified through its collection of independent city-states – and the emergence of the dynastic rule that spread across the Persian Empire. Zeno, who founded Stoicism in Cyprus and later taught it in Athens, lived during the same period. Later, the Roman Stoic Seneca both critiqued Epicurus and quoted him favourably.

Today, these two great contesting philosophies of ancient times have been reduced to attitudes about comfort and pleasure – will you send back the soup or not? That very misunderstanding tells me that Epicurean ideas won, hands down, though bowdlerised, without the full logic of the philosophy. Epicureans were concerned with how people felt. The Stoics focused on a hierarchy of value. If the Stoics had won, stoical would now mean noble and an epicure would be trivial.

Epicureans did focus on seeking pleasure – but they did so much more. They talked as much about reducing pain – and even more about being rational. They were interested in intelligent living, an idea that has evolved in our day to mean knowledgeable consumption. But equating knowing what will make you happiest with knowing the best wine means Epicurus is misunderstood.

The rationality he wedded to democracy relied on science. We now know Epicurus mainly through a poem, De rerum natura, or 'On the Nature of Things', a 7,400 line exposition by the Roman philosopher Lucretius, who lived c250 years after Epicurus. The poem was circulated only among a small number of people of letters until it was said to be rediscovered in the 15th century, when it radically challenged Christianity.

Its principles read as astonishingly modern, down to the physics. In six books, Lucretius states that everything is made of invisible particles, space and time are infinite, nature is an endless experiment, human society began as a battle to survive, there is no afterlife, religions are cruel delusions, and the universe has no clear purpose. The world is material – with a smidgen of free will. How should we live? Rationally, by dropping illusion. False ideas largely make us unhappy. If we minimise the pain they cause, we maximise our pleasure.

Secular moderns are so Epicurean that we might not hear this thunderclap. He didn't stress perfectionism or fine discriminations in pleasure – sending back the soup. He understood what the Buddhists call samsara, the suffering of endless craving. Pleasures are poisoned when we require that they do not end. So, for example, it is natural to enjoy sex, but sex will make you unhappy if you hope to possess your lover for all time.

Epicurus also seems uncannily modern in his attitude to parenting. Children are likely to bring at least as much pain as pleasure, he noted, so you might want to skip it. Modern couples who choose to be 'child-free' fit within the largely Epicurean culture we have today. Does it make sense to tell people to pursue their happiness and then expect them to take on decades of responsibility for other humans? Well, maybe, if you seek meaning. Our idea of meaning is something like the virtue embraced by the Stoics, who claimed it would bring you happiness.

Both the Stoics and the Epicureans understood that some good things are better than others. Thus you necessarily run into choices, and the need to forgo one good to protect or gain another. When you make those choices wisely, you'll be happier. But the Stoics think you'll be acting in line with a grand plan by a just grand designer, and the Epicureans don't.

As secular moderns, we pursue short-term happiness and achieve deeper pleasure in work well done. We seek the esteem of peers. It all makes sense in the light of science, which has documented that happiness for most of us arises from social ties – not the perfect rose garden or a closet of haute couture. Epicurus would not only appreciate the science, but was a big fan of friendship.

The Stoics and Epicureans diverge when it comes to politics. Epicurus thought politics brought only frustration. The Stoics believed that you should engage in politics as virtuously as you can. Here in the US where I live, half the country refrains from voting in non-presidential years, which seems Epicurean at heart.

Yet Epicurus was a democrat. In a garden on the outskirts of Athens, he set up a school scandalously open to women and slaves – a practice that his contemporaries saw as proof of his depravity. When Jefferson advocated education for American slaves, he might have had Epicurus in mind.

I imagine Epicurus would see far more consumption than necessary in my own American life and too little self-discipline. Above all, he wanted us to take responsibility for our choices. Here he is in his Letter to Menoeceus:

For it is not drinking bouts and continuous partying and enjoying boys and women, or consuming fish and the other dainties of an extravagant table, which produce the pleasant life, but sober calculation which searches out the reasons for every choice and avoidance and drives out the opinions which are the source of the greatest turmoil for men's souls.

Do you see the 'pursuit of happiness' as a tough research project and kick yourself when you're glum? You're Epicurean. We think of the Stoics as tougher, but they provided the comfort of faith. Accept your fate, they said. Epicurus said: It's a mess. Be smarter than the rest of them. How modern can you get?Aeon counter – do not remove

This article was originally published at Aeon and has been republished under Creative Commons. Read the original article.


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