Big US banks offer attractive salaries to attract crypto talent

According to Linkedin, cryptocurrency vacancies have skyrocketed by more than 600% since August 2020.

Major U.S. banks and financial institutions have recruited over 1,000 crypto experts in the past three years.

According to a article published Monday by Bloomberg, financial institutions are offering attractive salaries in an attempt to attract crypto-talent. Human resources consultancy Johnson Associates reports that compensation for cryptocurrency-related positions is 20-30% higher than for comparable but unrelated positions digital.

The company adds that many positions for cryptocurrency experts pay 50% more than comparable positions.

Banks cannot run the risk that their customers will turn to competitors for access to such services,” says Alan Johnson, its managing director.

The research firm Revelio Labs for its part analyzed 287 crypto-hires made by Goldman Sachs, Wells Fargo, Fidelity and JPMorgan Chase – the four largest employers of crypto-talent on the Linkedin platform. The company found that digital asset specialists have on average 9% higher salaries than their colleagues in traditional banking.

In October, LinkedIn revealed that the number of positions linked to cryptocurrencies and blockchain technology had jumped by 615% since August 2020 on its platform.

The opportunities offered by digital assets are enormous,” explained Roman Regelman , the director of the digital branch of the bank BNY Mellon.

In July, Bank of America set up a crypto research team . Alkesh Shah, director of the new division, said that “the industry and the technology [had] become too important to be ignored”.

Morgan Stanley also launched a research team specializing in cryptocurrencies in September.

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