🏝️Summer rewind #5 :
🏦 Wall Street infiltrates crypto : talent wars ignite !
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The 3 current trends in the crypto job market 👨💼
Originally published on 10 April 2024
As we navigate through 2024, the job market within the web3 space is experiencing a remarkable surge, presenting both unprecedented opportunities and unique challenges. Let's delve into the key trends defining employment in the web3 sphere this year. 💼
The Crypto Job Boom seems to be back 🚀
According to CCN website, major players like Coinbase, Kraken, Binance, and Gemini are leading the hiring surge, seeking to fill various positions across the globe.
The article indicates a significant increase in job postings within the industry, noting a 50% year-over-year increase between January and February and an additional 45% rise in March (base on CryptocurrencyJobs data). Moreover, the Blockchain Association lists more than 1,700 job postings, a strong increase from less than 1,000 a year ago. But it is still far behind the 2021 bull market when more than 3,000 job offers were posted. 📈💰
Bankers embrace crypto: a shift in talent dynamics
According to Bitget, a cryptocurrency exchange, there is a hiring spree across the crypto industry. 33% of their job applicants are former employees of the banking and financial sectors, reflecting the shifting talent dynamics.
This migration of talent underscores the increasing appeal of the crypto industry, fueled by better compensations and the disruptive potential of decentralized technologies. As banks grapple with digitalization and remote work, the crypto sector emerges as an attractive alternative for professionals seeking new horizons.
Compliance jobs are on the up, and you only have to search for the word "compliance" on the main web3 recruitment sites to see that there are plenty of vacancies. Below is an example from the Web3 Jobs site, which is currently displaying 929 compliance jobs.
Does this strong appeal of banking profiles to the crypto industry mark a turning point for the industry with a 180-degree turn towards institutionalization of the sector? We shall see.
3. Essential Skills requested by web3 founders
The "Blockchain Job Report" by CFTE sheds light on the key competencies expected from experts and project founders in the web3 space. While technical skills like programming remain crucial, the prominence of soft skills is evident, reflecting the collaborative and innovative nature of the industry.
Adaptability: With the dynamic nature of web3 projects, adaptability is paramount, enabling professionals to thrive in a fast-paced environment.
Communication: Effective communication is essential in navigating the diverse networks and communities within the crypto space, highlighting the importance of building meaningful connections.
Entrepreneurial Mindset: Despite its lower ranking in the top skills list, the entrepreneurial mindset remains a valuable asset, driving innovation and problem-solving in web3 projects.
Customer Orientation: While lower in priority, customer orientation underscores the importance of user-centric design and addressing usability concerns within the web3 ecosystem.
The convergence of finance, technology, and decentralization presents exciting opportunities for professionals to make their mark in this transformative industry. Let's continue the discussion in our Telegram channel !
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Disclaimer : The goal of this newsletter is to inform and produce content related to management in the world of Web3. It is not investment advice. Investments in crypto-assets and NFTs are risky and can result in the loss of your entire capital. Always conduct your own research and exercise caution.