The annual salary for a blockchain developer has risen over the last six months, despite the ongoing bear market and crypto layoffs.
According to a new report by Janco Associates, blockchain developers command an extra $4,000 per year compared to six months ago. The average annual salary for a blockchain developer is now $132,000, although some experienced individuals earn as much as $176,000.
“CIOs do not want to lose the talent they have on board. As a result, they have increased compensation for those positions,” Victor Janulaitis, CEO of Janco Associates, explained to Computer World.
Blockchain developers are now among the highest paid IT professionals, period.
However, the pay rise isn’t just isolated to developers. Most blockchain-related jobs are experiencing a rise in salary demand. After the bitcoin price fell more than 70% in 2018, keeping talented individuals in the space requires a larger compensation package.
The news comes as many blockchain startups announce layoffs and restructures. As Block Explorer recently reported, high-profile companies like Bitmain, ShapeShift and ConsenSys have cut staff in recent months.
Perhaps startups are focusing on the core tech rather than ancillary services as the crypto winter takes hold.