Banks and financial services are mad for blockchain (though they have yet to decide what to actually use it for) and they’re prepared to splash out when it comes to attracting talent.
According to a report in Financial News, banks, consultancy firms, and fintech startups are paying top blockchain developers annual salaries ranging between £250,000 and £500,000, industry sources said.
However, the report did measure that with one person at a so-called blockchain group saying that paying blockchain engineers £100,000 was more realistic.
Either way, cracking the blockchain is clearly of prime importance to the industry.
Here’s how the salary of a blockchain developer could stack up with the recent estimates for other top financial services positions
Salary benchmarking site Emolument.com last year found that with an average salary of £178,000 and a bonus almost as high, at £148,000, bankers in mergers and acquisitions who have made it to director level are out-earning all their peers.
Meanwhile, traders at a bank can expect to make over £250,000 per year, with a salary of just over £160,000 and a bonus coming in at £120,000, City AM reported.
This means top blockchain devs could be nearing this level of remuneration, topping the likes of asset gathering/fundraising, private equity LBO, and fund management.
Meanwhile Financial News reports that demand for data scientists and web developers is also pushing salaries sky high, rising by as much as 20 percent over the last 18 months and one recruiter was quoted as saying this will “only continue”.