Janco and eJobDescription.com carried out a 2019 IT Salary Survey which shows that Blockchain developers’ salaries have increased over the past year. Their earning has been likened to what experts in the Artificial Intelligence industry receive. Also, the survey team attributes the spike in income to the high demand of Blockchain professionals by companies.
Janco Carries Out Biannual IT Salary Study
Janco’s study is usually carried out twice a year and that is in January and July. This is usually a salary survey of the IT Job market and it has been ongoing since 1989. In its recent report, the management consulting firm said: “Salaries are up across the board for all blockchain roles that we have surveyed.”
Accordingly, the survey shows that the annual pay for Blockchain developers in the past six months is over $4000. A professional in this field can earn a median annual salary of $132,000, whereas those with more experience make over $176,000 on a yearly basis. The latter is mostly the earnings of experts who have moved to a new firm, the report says.
In comparison to Janco’s report in October 2018, there is a slight change in earnings. The company at that time announced an annual salary of $127,000, and a yearly income of $172,000 for professionals with more experience who move to new jobs. The company had concluded that: “ERP and Blockchain jobs are in great demand. Individuals can look forward to salaries continuing to increase.”
High Demand for Blockchain Experts Leads to Increase in Salary
The increase in salary is said to be caused by a shortage of these IT professionals who are also in high demand. Moreover, the improvement in the economy has led companies to seek for more IT talents in order to invest in modern technologies. Besides, these are firms that have adopted the distributed ledger technology.
Based on a media outlet’s report, the number of vacancies for Blockchain developer in the U.S is over 10,000. Burning Glass Technologies, a job data analytics firm in June 2018 also said IT jobs in this field were 5,743. The company’s report later in October revealed 12,006 blockchain developer jobs which accounts for over a 100% yearly growth.
LinkedIn, in December also published an Emerging Jobs Report which states that Blockchain developer is the most hired job. Specifically, skills such as Blockchain, Solidity, Ethereum, Cryptocurrency, and Node.js are in high demand. It was also said that the U.S. has a higher level of interest in hiring these professionals.