Strong Demand for Crypto Experts on the Russian Labor Market

Statistics from leading job search platforms indicate that the demand for cryptocurrency and blockchain specialists in Russia remains strong. Most employers offering these vacancies are either IT companies or banks. The competition for crypto expertise is getting tougher, as the country is preparing to finally regulate the fintech sector.  

Also read: Crypto Incomes Declared on Tax Returns in Russia

Don’t Forget to Mention Crypto Projects on Your Resume

Six candidates are currently competing for each vacancy in the Russian Federation, according to data collected by the Index Head Hunter platform, a project monitoring the labor market in the vast country. The ratio indicates a moderate level of competition among potential employees, which is favoring Russian employers. But is this the case in all sectors of the economy?

The statistics gathered from Russian online job platforms point to a rise in the demand for experts in blockchain, mining and cryptocurrencies. According to Head Hunter, 387 vacancies in the fintech sector have been posted last month, while their number for the whole first half of 2017 was only 201. That’s 11.5 times more than during the respective monthly period of last year.

The majority of employers offering positions in the crypto sector are either IT companies or banking institutions, mostly concentrated in the capital Moscow and Saint Petersburg, the second largest Russian city. Many of these businesses are not even publishing job postings, but are constantly sifting through the resume database, said Natalia Godjaeva, general director of Superjob.ru, quoted by Bit Novosti.

Developers and project managers are the most sought after specialists, Godjaeva added. She advised candidates to always mention any crypto and blockchain-related projects on the resumes they submit to job search websites, and assured them, “You will definitely be noticed.” Her comments come at a time when Russia is preparing to regulate the crypto industry with three drafts currently under review in the State Duma.

Growing Global Crypto Labor Market

By all indications, the crypto labor market in Russia is experiencing growth. Several months ago, the RF Ministry of Labor and Social Protection received a request by representatives of the industry to officially introduce a “professional holiday” for specialists and experts working in the field. That hasn’t happened yet, but the department promised to look into the proposal.

Competition for qualified crypto and blockchain professionals has been increasing globally, too. Recently, the social network Linkedin announced that from the start of 2018 until mid-May 4,500 postings on the platform have contained any of the following keywords: blockchain, bitcoin, cryptocurrency. Linkedin said that’s 151 percent more than in the whole of 2017. In December, it reported more than 500 percent increase in the listing of skills pertinent to cryptocurrency.

The popular freelancing platform Upwork has also witnessed a spike in the job ads from the blockchain industry last year – a 2,625 percent increase when compared with 2016. According to the US-based platform Toptal, specializing in posting job opportunities for IT specialists, the demand for blockchain developers has jumped by 700 percent. Earlier this year, IBM announced it was hiring 1,800 IT experts, including specialists knowledgeable of blockchain.

Both vacancies and applicants for employment in the crypto sector have increased substantially in other corners of the world, as well. This is the case with India, where cryptocurrency and blockchain related job postings increased by 290 percent in the six months to November, 2017, as reported by the Indian branch of the global job site Indeed. During the same period, job searches containing crypto-related keywords rose by 52 percent.

Do you think the strong demand for crypto and blockchain experts indicates a positive future for cryptocurrencies? Let us know in the comments section below. 

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