Blockchain Rewards Skilled Freelancers with Salaries North of $100,000
There is a misconception that independent contractors can’t consistently make money to sustain their livelihood. However, lucrative opportunities exist for top-tier contractors according to LinkedIn, UpWork, and Hired findings.
Blockchain Jobs are on Demand
Judging from the explosion of DeFi, blockchain, and crypto, Hired statistics show that coders and crypto experts are raking in top-dollar when offering services to various blockchain companies.
Blockchain engineers—who are categorized as system software developers, unlike their peers working in other sectors, easily earn over $100k per year.
On the contrary, developers in other departments earn an average of $77k.
This could rise because the U.S. Bureau of Labor Statistics projects a 16 percent growth in blockchain through to 2026.
“This outlook shows higher than average growth when compared with all other occupations, providing blockchain engineers with positive growth potential in the coming years.”
“With opportunities arising in health, government, and financial markets, an experienced blockchain engineer can enter into a field where both public and private organizations are investing resources for experimentation and growth.”
Bitcoin Developers are Paid $220 an Hour on Average
Meanwhile, UpWork has been compiling the list of 20 highest-paying skills for U.S.-based freelancers. From the list, the freelancing platform notes that independent professionals are paid well over $250 an hour in various blockchain categories spanning legal, tech, finance, and marketing.
Classified as technology, there are various facets of blockchain that draw various levels of pay depending on complexity. As a developing industry comprising code development, trading, marketing, web designing, legal, and even community management, blockchain draw diverse skill-sets from experts from across the globe.
According to UpWork, the average hourly rate for highly-skilled blockchain software developers stood at $210 an hour only trailing legal entity structuring and Blackline.
This could partly explain why Ethereum core developers skilled in Solidity are enticed with top-tier salaries of over $150k a year by blockchain companies eager to only use the best in the industry to achieve their objectives.
Demand for other languages like C++–which anchors Bitcoin and its forks, Java, and Python grew by a whopping 115 percent between 2016 and 2017.
Coincidentally, this is when digital asset prices expanded by several folds with Bitcoin hauling the rest of the crypto scene when its prices rose to $20,000.
Demand from Companies Will Push Hourly Rates Up
The spike in demand was occasioned by the fact that companies who needed to adapt and even integrate the efficiency of blockchain sought talented developers to execute the transition or incorporation. In response, these developers, aware that they are scarce gems, ended up charging premium rates for their services.
Although there may be concerns around lack of standardization, security, and asset volatility as per a LinkedIn report, leading companies from American Express to IBM are optimistic because of the technology’s utility in various sectors of the economy.
Part of the report reads:
“The business world, however, is voting with its jobs, and companies seem to be saying that the potential is worth the gamble. Blockchain has become a line of business for a who’s who of the corporate world — IBM, Oracle, JP Morgan Chase, Microsoft (LinkedIn’s parent company), Amazon, and American Express, to name just a few.”
Still, it is highly likely that hourly rates and salaries within the crypto-sphere will continue to rise, proving more lucrative for developers readying to dive right in.
First, the scene is generally moving at breakneck speed and crypto is projected to be a $39.5 billion industry by 2025, expanding at a Compound annual growth rate (CAGR) of 67.5 percent.
Confirming, Addison Huegel of the blockchain marketing firm, BlockGroup said:
“Blockchain and crypto will be one of the biggest growth industries in the coming years, especially in developing regions like Africa, SE Asia, and South America. It’s a separate industry from tech, finance, and software, so there is a huge demand for experienced people from companies moving into space.”
Second, few industries understand blockchain and to best utilize the technology in their operations. As such, it can be projected with absolute certainty that the best talents will demand premium rates to offer their tiers now that there are more jobs than there are people to fill them.
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