Top Crypto Jobs That Can Pay Most in the Next Bull Run
The pursuit of crypto jobs became quite challenging and stressful for job seekers due to the bear market conditions in 2023. With major crypto exchanges and companies cutting crypto jobs, the certainty of having stable jobs in the crypto sector was in question.
Now, with the anticipation of an upcoming bull market, the question most crypto enthusiasts are asking is whether crypto firms will announce job openings and if yes, would the salaries increase for crypto workers.
Two different hiring trends were noted for the last two bull market runs:
- During the last bull market, prominent companies including Robinhood, BlockFi, and Coinbase reduced their workforce to ensure strong capitalization.
- Whereas the bull market before that saw companies hiring job seekers in large numbers, which subsequently increased their costs.
As the crypto market is now at a tipping point, crypto job seekers are left to wonder whether the availability of crypto jobs will increase, or whether crypto companies will tread more lightly.
Need for Compliance in Crypto Jobs Increases
As the world is becoming more acquainted with the crypto space, several top exchanges and companies have successfully begun overseas expansion of their operations. This expansion comes with a high demand for compliance staff.
One of the popular firms to step forward with their expansion is Robinhood Markets. It is an American financial services company that supports crypto. Despite a downturn in crypto earnings in 2023 and the loss of 150 staff members during the bear market, the firm revealed positive figures for November last year.
As of today, the company has also launched crypto trading in Europe, which is a monumental step towards its expansion in Europe and the UK in 2024.
Even though Europe has “comprehensive policies for crypto asset regulations” the UK and Europe expansion will require an increase in compliance efforts.
What makes compliance a significant factor? There are new requirements for ‘Markets in Crypto Assets legislation’ and all crypto companies and firms in the EU will have to comply with them by the second half of 2024.
Now, distinguished crypto exchanges have established that some of the Financial Conduct Authority requirements are implausible. Considering this scenario, a UK launch becomes significant but rather expensive, as only a few companies will be able to release authorized crypto promotions.
This leaves Robinhood with two choices:
- To hire professionals with experience, who will demand high salaries.
- To delegate the tasks to a specific group of authorized companies.
Hence the need for compliance efforts may increase this year.
Compliance Staff and Developers Might Now Have the Spotlight
As we step into 2024, it is important to know about the ongoing trend of crypto jobs, the overall state, and the salary range being offered to job seekers.
Here are some facts you should know:
- CryptoJobsList recently shared a figure for crypto compliance staff, which is an average of $103,000 per year.
- Crypto compliance staff members qualifying as the top 10% can even earn approximately $170,000 annually.
- Robinhood recently offered a prospective crypto salary between $217,000 and $327,000 for the Chief Information Security Officer (CISO).
- The average salary for a cryptocurrency developer, at $146,250, closely aligns with executive-level compensation.
- Developers with more years of experience can get up to $185,250 annually.
Several compliance-related crypto jobs have also been posted by Coinbase; however, the salaries have not been revealed by the exchange. Safe to say, the need for experts with developer skills is growing.
Germany might be the next talent hub for Coinbase, considering the vast number of skilled developers in the country. Hiring developers in Portugal is also quite the buzz, considering numerous professionals have also relocated to the region from the USA.
While looking for crypto jobs in the programming field, it is crucial to keep in mind that the salaries can also vary according to the programming language you have expertise in. Therefore, thorough research according to your skill set is advised while looking for crypto jobs.