Recently, the average income of blockchain engineers has really escalated, staying between $150-175,000 yearly, this perfectly fits with the law of demand and supply as regards labour; the higher supply of labour, the higher the price of labour. Citing the Hired’s 2018 State of Salaries Report, this was reported by CNBC on October 21.
400% Increase in Demand for Blockchain Engineer
The average software engineer salary is about $135,000, the amount which puts blockchain engineers on the pay status was specialist of the Artificial Intelligence (AI) owing to the rate at which demand for blockchain recruitment has been rising. This is higher than that of specialized tech engineering roles. “There’s a ton of demand for blockchain. Software engineers are in very short supply, but this is even more acute, and that’s why salaries are even higher,” said Hired CEO Mehul Patel
The amazing fact is that despite the bear market experienced in the cryptocurrency market this year, Hired after proving the data for blockchain roles last year still attested to the fact that the demand for labour that happens to be specialists in the sector has increased well over 400 percent.
Giant Firms’ Contributions
This demand must have been consequent upon giant firms especially the global tech startups like Amazon, IBM, Microsoft, Facebook and a host of others which have continued to make advertisement of specialists from the nascent sector; this must have registered it in the subconscious of employers while recruiting.
“Back-end engineer,” “systems engineer” or “solutions architect,” are the nomenclature which job listing defines many jobs but it always specifies blockchain as a “desirable” skill for applicants.
Demand for Blockchain Keeps Rising
Based on the report by Hired, the primary purpose of the study is to have a comprehensive record which accommodates tech workers across thirteen global cities using more than “420,000” interview requests with a demographic survey to add age and race where needed. Hired also revealed that demand for blockchain engineer is highest in the San Francisco Bay Area, New York, and London.
In August, Robert Walters; a recruiting firm released an analysis to the public domain, this analysis hinted that blockchain industry has witnessed a sustained uprising in the Asia continent despite the bear market.