According to Linkedin, Blockchain is the number one hard skill companies need most right now.
The total value of the cryptocurrency market has now surpassed the $1 trillion mark. As that number continues to grow, companies are scrambling to find skilled professionals. With a limited number of qualified blockchain professionals in the market, the salaries being offered are highly competitive.
Here’s more about the role and the earning potential of a blockchain developer salary.
What’s Blockchain Development?
As it’s relatively new to the technology landscape, blockchain development and how it works is a mystery for many people.
Blockchain is a system of securely recording information where it’s exceedingly difficult to cheat the system. It’s a digital ledger of transactions where any changes are duplicated and distributed across the entire network. Blockchain technology offers organizations a way to store and execute transactions with transparency and it’s currently being used for everything from medical information systems to storing smart contracts.
As a blockchain developer, your role is to oversee the development and optimization of all blockchain protocols, from creating the architecture of blockchain systems to establishing and advancing the development of blockchain technology apps.
Blockchain Roles and Salaries
At the time this article was written, a LinkedIn search for blockchain developer jobs in the United States came up with over 20,000 listings. This indicates just how in demand these professionals are.
There are various roles included under the blockchain umbrella, including:
- Blockchain developer
- Blockchain architect
- Blockchain administrator
- Blockchain UX designer
- Blockchain engineer
- Blockchain analyst
- Blockchain project manager
As expected, the blockchain developer salary that accompanies each of these roles does have some variation.
According to ZipRecruiter, the average blockchain developer salary in the U.S. is $154,550 annually.
The Impact of Location on Blockchain Developer Salary
As with any job, your skills and experience will influence the salary you’re offered, and this can also be impacted by location.
In looking at the best cities for blockchain developer salaries, New York topped the list at $180,380 annually. Rounding out the top five are:
- San Mateo, Calif. – $177,998
- Boston – $172,271
- Juneau, Alaska – $172,251
- Berkeley, Calif. – $171,067
As you can see, the pay range for a blockchain developer varies. ZipRecruiter reports the majority of salaries range between $124,500 and $203,000, with skill, experience and location being major factors.
Best Companies for Blockchain Developers
Blockchain developers are in high demand in many different industries. However, there are certain companies that have been leading the way with blockchain adoption and implementation.
According to Blockchain Academic, IBM, Microsoft and Intel have all built strong blockchain teams, hiring developers, engineers and more — and are continuing to expand. Other companies in the more traditional field of finance, like MasterCard and Visa are also working on growing their blockchain teams.
Skills and Experience Can Make All the Difference
If you’re newer to the blockchain industry and lacking experience, one thing to consider is whether working with a mentor would be beneficial. Having someone with industry knowledge and experience who can help you navigate your career path can be incredibly valuable.
Additionally, if you want to secure a top blockchain developer role, you’ll need to ensure your skills and education are up to date.
Consider reviewing current job listings to see exactly what employers are looking for, and then finding some additional learning opportunities to make yourself even more appealing as a potential hire.
Want to become a blockchain developer?
The Udacity Blockchain Developer Nanodegree Program gives you the opportunity to work with digital asset protocols, build projects for real-world application and gain the essential skills for a career in this dynamic space.