About six months ago, Blockchain developers were not earning as much as they are now. This was revealed by a survey-based report carried out by Computer World.
During the course of the last few months, Blockchain developers who were in the highest wage bracket were earning more than US$4,000 annually. This report emanated from a survey, which was conducted by Janco Associates, a management consulting firm.
The median yearly pay for Blockchain developers is considerably higher than what other software developers earn at US$132,000. More experienced developers earn more than US$176,000 when they change their employers.
Highest paying jobs
Also, in the top bracket of information technology jobs, only data scientists, ERP data architects, database managers and ERP data engineers come close to earning more than Blockchain developers. The database managers and ERP data engineers out earned Blockchain developers during the second quartile. However, in the third quartile, the ERP data engineers took the title and earned more than the Blockchain developers earn.
In the tech sector, the Blockchain developers are in the top quartile as reported by Computer World. there have been more surveys in the past that show the enviable position which Blockchain developers occupy in the food chain of the tech sector. A few months ago, precisely in October last year, CCN revealed in a report that engineers residing in the United States were earning as high as artificial intelligence experts. This is another field that has been seeing an increased demand for top talent.
On average, the pay for Blockchain engineers in the US ranges between US$150,000 and US$175,000. This makes it comparable to what other developers who specialize in artificial intelligence, another high demand field. Both fields now presently offer the highest pay for specialized engineering roles. Software engineers make about US$135,000.
Competitive pay and growing demand
The competitive pay which was offered to Blockchain developers at the time was attributed to an increased demand for talent with tech sector recruitment firm, Hired. This indicated that job posting rose by up to 400%. Another job site, Glassdoor, revealed that job postings which were related to distributed ledger technology and cryptocurrencies had risen by about 300%.
A month ago, LinkedIn, a professional networking site reported that Blockchain development was the biggest growing field on its platform last year. This Microsoft owned platform also revealed that job listings for some software engineers with the skills to develop distributed ledgers with peer to peer technology had increased by more than thirty times last year.
CCN tweeted about this new development, saying that Blockchain development is the biggest growing job sector on LinkedIn. The post states that the Microsoft owned network released a list of top 5 emerging careers and it listed bitcoin development as the biggest growing job sector for last year.
Fortunately, the increasing demand for Blockchain engineers and developers has come at a period when crypto firms have announced their plans to lay off some staff. One of such companies is ConsenSys, a crypto firm which is headed by the cofounder of Ethereum, Joseph Lubin. The company has made plans to retrench up to 13% of its employees. Also, Steemit, the decentralized social media firm has made its plans to reduce its employees by 70% public.