Many major US banks and financial institutions have been offering good incentives and building up the ranks of their crypto experts. This is an initiative that has been taken to lure budding crypto talents.
The list includes big names like Fidelity, Wells Fargo, Goldman Sachs, and JPMorgan Chase. If we take a look at the recent job listings by these companies, you are likely to come across thousands of jobs with the description including the keyword ‘crypto’.
Estimates from Johnson Associates, a leading human resource consultant, indicate that the pay-scale for job positions for crypto experts are almost 20-30% higher than equivalent positions not related to digital currencies. The company also added that several people working in senior crypto designations get up to 50% increase in their pay-scale over comparable roles.
According to Revelio, a research firm, its data compilation is based on an online search for job profiles at investment banks, banks, and financial service institutions. They have taken into account everyone who was employed since the year 2018. They have also counted mentioned of any variation of words like ‘crypto trading’ or cryptocurrency’ in the job description or the job title.
Earlier in October, there was a report from LinkedIn that job listings across the site for block chain and crypto related roles had surged 615% after August 2020.
In September, Morgan Stanley established a crypto research team, indicating that major US banks are looking forward to entice crypto talents. Bank of America also set up an exclusive research team to work on crypto tokens in July. They felt that the technology and the industry was too big to ignore.