Booming Blockchain Sector Offers Top Salaries
Blockchain is hot in the channel, and demand for IT pros in this sector is high with median salaries exceeding $100,000.
“In a review of compensation for 12 comparable blockchain-related positions at a number of our clients, we found that 10 of the positions surveyed had median salaries over $100,000,” said Janco CEO Victor Janulaitis. “The two positions that did not reach that threshold were ones that have been around a while and are just now seeing the impact of blockchain.”
According to a recent TechInsight360 report, blockchain spending in the United States is expected to skyrocket from $3.12 billion this year to more than $41 billion by 2025, reaching a compound annual growth rate (CAGR) of 44.5 percent.
A manager of blockchain architecture commands a median salary of $142,000, while a blockchain project manager is at $120,000. A blockchain analyst has a median salary of $123,500 and a blockchain developer commands $127,000. All are at the upper end of salaries for IT pros.
“Also, all of these positions are in short supply,” Janulaitis said. “This, in turn, is putting upward pressure on salaries and increasing the requirement for outside consults who have the skills associated with blockchain. We see this trend continuing.”
The blockchain bundle includes the following job descriptions: vice president of strategy and architecture; chief security officer; blockchain architecture manager; blockchain project manager; blockchain analyst; blockchain developer; project manager of enterprise resource planning (ERP); project manager – enterprise architect; data scientist; database administrator; database manager and director of electronic commerce.
“Positions that tangentially are impacted by blockchain are also in high demand,” Janulaitis said. “It is for that reason that we included them in this bundle and analysis of compensation. As this technology progresses, we believe that ERP and enterprise architecture disciplines will merge with blockchain. And we think that is not too far into the future.”
More data will be available on compensation levels for blockchain once Janco completes it midyear IT salary survey.