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.

Bitcoin and blockchain jobs are booming — and they pay well
Glassdoor Economic Research
  • 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

Golden Gate Bridge

upload.wikimedia.org

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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Astronomers find more than 100,000 "stellar nurseries"

Every star we can see, including our sun, was born in one of these violent clouds.

Credit: NASA / ESA via Getty Images
Surprising Science

This article was originally published on our sister site, Freethink.

An international team of astronomers has conducted the biggest survey of stellar nurseries to date, charting more than 100,000 star-birthing regions across our corner of the universe.

Stellar nurseries: Outer space is filled with clouds of dust and gas called nebulae. In some of these nebulae, gravity will pull the dust and gas into clumps that eventually get so big, they collapse on themselves — and a star is born.

These star-birthing nebulae are known as stellar nurseries.

The challenge: Stars are a key part of the universe — they lead to the formation of planets and produce the elements needed to create life as we know it. A better understanding of stars, then, means a better understanding of the universe — but there's still a lot we don't know about star formation.

This is partly because it's hard to see what's going on in stellar nurseries — the clouds of dust obscure optical telescopes' view — and also because there are just so many of them that it's hard to know what the average nursery is like.

The survey: The astronomers conducted their survey of stellar nurseries using the massive ALMA telescope array in Chile. Because ALMA is a radio telescope, it captures the radio waves emanating from celestial objects, rather than the light.

"The new thing ... is that we can use ALMA to take pictures of many galaxies, and these pictures are as sharp and detailed as those taken by optical telescopes," Jiayi Sun, an Ohio State University (OSU) researcher, said in a press release.

"This just hasn't been possible before."

Over the course of the five-year survey, the group was able to chart more than 100,000 stellar nurseries across more than 90 nearby galaxies, expanding the amount of available data on the celestial objects tenfold, according to OSU researcher Adam Leroy.

New insights: The survey is already yielding new insights into stellar nurseries, including the fact that they appear to be more diverse than previously thought.

"For a long time, conventional wisdom among astronomers was that all stellar nurseries looked more or less the same," Sun said. "But with this survey we can see that this is really not the case."

"While there are some similarities, the nature and appearance of these nurseries change within and among galaxies," he continued, "just like cities or trees may vary in important ways as you go from place to place across the world."

Astronomers have also learned from the survey that stellar nurseries aren't particularly efficient at producing stars and tend to live for only 10 to 30 million years, which isn't very long on a universal scale.

Looking ahead: Data from the survey is now publicly available, so expect to see other researchers using it to make their own observations about stellar nurseries in the future.

"We have an incredible dataset here that will continue to be useful," Leroy said. "This is really a new view of galaxies and we expect to be learning from it for years to come."

Protecting space stations from deadly space debris

Tiny specks of space debris can move faster than bullets and cause way more damage. Cleaning it up is imperative.

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  • To prevent this untrackable space debris from taking out satellites and putting astronauts in danger, scientists have been working on ways to retrieve large objects before they collide and create more problems.
  • The team at Clearspace, in collaboration with the European Space Agency, is on a mission to capture one such object using an autonomous spacecraft with claw-like arms. It's an expensive and very tricky mission, but one that could have a major impact on the future of space exploration.

This is the first episode of Just Might Work, an original series by Freethink, focused on surprising solutions to our biggest problems.

Catch more Just Might Work episodes on their channel:
https://www.freethink.com/shows/just-might-work

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