Blockchain Talent Salaries Drops by 30% to 40% Due to Crypto Market Crash
The rapid growth of blockchain technology and the booming crypto market in 2017 and the first half of 2018 leaded to the increasing demand for blockchain talent. However, the currency market crash also causes a significant loss in salaries for blockchain jobs in China.
According to an industrial report, in Q2 2018, the recruitment demand for blockchain-related talents has increased by 636.83 percent, mainly targeted by Internet, IT services, computer software, and fund & securities industries.
Last month, Tsinghua University and BlockData have jointly issued a report titled 2018 Q3 Blockchain Industry Report, which high lights the blockchain talent market in China has turned into sluggish. Compare to the average salaries in this June, the currency salaries of most blockchain related jobs has dropped by 30% to 50%.
The report also stated that:
“it is worth noting that ICO has also started to decline since March, and the entire market has gradually become more rational. The whole industry is paying more attention to its own development. As thus the talent demand for core technological developer still far exceeds the supply. However, the demand for market and operation talent has decreased.”
Nevertheless, although the salary drops a lot within the recent three months, the technical giants, for example, the BAT (Baidu, Alibaba, and Tencent) are all eyeing blockchain talents with core technical skills.
According to major online recruitment websites in China, the industrial giants from finance, Fintech and Internet fields, as well as the large groups, are still looking for blockchain talent as they want to empower their business by blockchain.
Although the blockchain talent market has changed a lot within one year, the core technology developers are still the key to the blockchain application. The industrial talent war has just started.