Crypto Bull Run Increases Job Listings, Fuels Salary Increases

The crypto jobs market is heating up as the industry enters a new bull run.

The rise and movement of crypto prices has resulted in many applicants and postings on industry job sites.

Raman Chalupau, founder of the CryptoJobsList job board, told Cointelegraph that there is a 20-30% growth in the number of companies that activate each month.

He added that most of the activity is from existing companies that survived the bear market.

According to Chalupau, hiring at the beginning of a bull run tends to be from existing companies, which in many cases had hiring cuts during the crypto market downturn.

The next round of hiring comes when new companies start looking for talent, but this growth goes deeper into the cycle.

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“It's usually six months into a cycle or so when there's a VC,” says Shallupau. [venture capital] When people feel that it is safe, the movement is here. Crypto is here to stay – again.

“At least in the previous cycles, it also came with finding a new business model or insight. For example, multichain is the new paradigm – so we need more analytical tools, right? EtherScan is not enough anymore, so we need something like Nansen, for example Shallupau.

But the new narrative has yet to be discovered at this stage in the bull run.

Crypto exchange between top employers

Chalupau noted that exchanges — one of the largest segments of the crypto market — are ramping up their hiring efforts.

Research by Cointelegraph has confirmed that more than 1,000 jobs are open at the industry's leading players: Binance, KuCoin, Coinbase, Kraken and Gemini.

Binance currently has more than 350 vacancies, KuCoin is not far behind, 300 vacancies. Coinbase currently has around 200 roles open, up from just 70 in December 2023, while Kraken and Gemini are hiring for 100 and 50 roles respectively.

Of the 350 roles available at Binance, 50 are entry-level or graduate roles for those without significant work experience, providing an entry point into the industry.

Another benefit of the bull market is an increase in average salaries, at least for candidates.

For example, Chalupau The average salary for an engineering role is $168,000 in 2024, $137,000 in 2022 and $135,000 in 2023.

With attractive salary packages, it is understandable that the number of applications increased in the month of March.

The top three locations for hiring companies on CryptoJobsList are the United States, Singapore, and the United Kingdom. Other hot spots include Hong Kong, India and Canada.

If you count “distance” as a location, it's second only to the United States.

Understand what kind of career you want in crypto

Zara M, head of human resources at Cointelegraph, said the market was bullish. As the head of the newly launched jobs.cointelegraph.com, she says the job market is very strong right now.

“In March, site usage tripled and the bull market began. I can say I can 100% see the difference,” said Zara.

Zara says part of that faster growth curve can be attributed to marketing and increasing awareness since launch. For this reason, it may be impossible to draw a one-to-one parallel between the development of Cointelegraph and the market.

As for the types of roles currently in demand, Zara says researchers, product managers and project managers are all in high demand.

While it's a good time to be a job candidate, Zara advises job seekers to “understand themselves and what they want from their job.”

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“Instead of applying to 10,000 different jobs a day, it's more important to understand what they want and what they want to do in their future,” she says.

Chalupau similarly advised all parties to exercise caution and do their due diligence before accepting a role or offering a contract.

Above all, job seekers are advised to remember how quickly things can change in crypto.

“Keep in mind the bull market isn't here forever,” Chalupau added — reminding everyone to make hay while the sun lasts.