Report: Demand for Blockchain Talents in China Increased by Sixfold
Blockchain talents are severely needed in China this year as the demand for such professionals far exceeds the supply, according to a recent report entitled Report on the Supply and Demand of Blockchain Talents 2018 released by Zhaopin.com, a Chinese online recruitment services provider.
In Q2 this year, the recruitment demand for blockchain-related talents has increased by 636.83% since Q3 of 2017. Recruitment requirements show that these coveted blockchain talents are particularly wanted by companies engaging in Internet, IT services, computer software and fund & securities.
The popularity of blockchain technology has been pushing up the demand for blockchain talents, large companies and startups focusing their ambition on the nascent sector are racing to recruit professionals in this field. As reported by 8btc, PBoC, the country’s central bank, has recently posted its high-profile recruitment notice to woo blockchain professionals for its widely-expected digital fiat.
Geographically, the demand for blockchain talent recruitment is concentrated in first-tier and new first-tier cities. Among them, Beijing, Shanghai and Shenzhen are in the first rank, with openings accounting for 24%, 20% and 10%, respectively, followed by Hangzhou and Guangzhou, with 7% and 5% respectively.
The report also reveals that in the past year, the number of jobseekers who applied for blockchain-related positions has reached 3.6 times that of the industry’s actual need. Their yearning to be part of this bandwagon is evident.
However, the report pointed out that such professionals with required skills and experience could only meet 7% of the actual market demand. This situation led to the “false prosperity” of the blockchain sector in terms of talent recruitment. That means, companies’ actual needs can hardly be met though piles of applications flood in.
In this context, companies often choose to woo talents with relatively higher salaries. Most positions offer a basic salary ranging from 10,000 yuan-15,000 yuan/month, accounting for 23%, and 29.2% ranging from 15,000 yuan-25,000 yuan/month. By comparison, the average monthly salary for white-collar workers this year in China is 8,730 yuan ($1,260).
Insiders analyze that the gap between the booming demand for blockchain talents and actual supply would be filled by those internet-turned and finance-turned talents in the short term; while in the long run, talent cultivation must be put on the schedule, in which some prestigious universities have speeded up their efforts, including MIT, Stanford University, Zhejiang University and Xidian University in China.