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With a trend of blockchain adoption into company operations for cost and time efficiency, blockchain developers are seeing a rise in their salaries. Due to being a relatively new technology with a very low number of experienced developers, the demand for the best in the business is allowing such developers to demand more pay for their services, especially when they are shifting loyalties and going to new companies.
2018 saw a sharp adoption by many major corporations to build new systems around the distributed ledger technologies. Janco Associates, which is a management consulting firm released a report stating that because of the increased interest in these technologies, pays are rising for blockchain developers and other blockchain related roles.
Janco Associates conducts regular salary surveys and release their findings every 6 months or so. According to their latest survey, fresh developers or those with young careers are racking up roughly $132,000 annually.
Because of the rise in salaries and media reports over the rise, it is possible that a new wave of developers will be attracted to this technology now, balancing out the demand with more numbers of available developers. However, there’s still value with experience as an experienced developer is able to get an annual salary of $176,000 according to the survey.
Victor Janulaitis is the CEO of Janco Associates. He said in an email, “Salaries are up across the board for all blockchain roles that we have surveyed.” There have been multiple job reports previously with all stating similar results that jobs and pay for a blockchain developer are on the rise. According to the reports, the job openings for blockchain developers are at more than 10,000 in the United States alone. LinkedIn reported blockchain developer to be the No. 1 emerging job.
These reports are just another proof that the newest technology about to revolutionize the industry is none other than blockchain and early adopters and developers are sure to benefit from this industry drive to incorporate the distributed ledger technology into company operations.