Home Blockchain For IT pros, adding blockchain skills can pad your paycheck – by...

For IT pros, adding blockchain skills can pad your paycheck – by a lot

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Extra pay for tech professionals who’ve attained non-certified skills is nearing a 19-year high, adding an average of 9.4% to their salary. But if you really want to pad your paycheck, blockchain skills may be the way to go, according to a new report from from Foote Partners.

The market value for IT workers with blockchain skills increased by 6.3% in the six months through Oct. 1, 2019 and a whopping 13.3% for the full year – “well above average,” according to the Foote Partners research.

“So, companies are willing to pay a premium above salary – cash money – for Ethereum skills and a market basket of other blockchain skills,” Chief Analyst David Foote said.

The “market value” increase, Foote explained, is different from additional pay offered for blockchain skills. For example, the average pay premium for blockchain skills is actually 17% above base salary, Foote said. So, if a tech employee is earning $100,000 a year, and they can offer their company blockchain development, management or engineering skills, they would, on average, see an additional $17,000 per year.

At a high level, blockchain technology is a way of securely managing access and information on an open, distributed electronic ledger. What makes the distributed ledger technology (DLT) so interesting to businesses and some governments is how it is positioned to improve an almost endless array of transactional activities, according to the report.

Foote Partners

Because it’s in high demand, skills shortages will continue for blockchain developers – especially for the architects, project managers, and quality engineers who can design, build, and test blockchain operating models, according to the report.

Understanding how blockchain integrates with artificial intelligence, machine learning, robotics, and IoT is seen largely as a plus for technologists at the moment. But it will be a requirement in the future as these other technologies mature and adoption rates increase.

Salaries for blockchain developer or “engineer” positions are high, with median salaries in the U.S. hovering around $130,000 a year; that compares to general software developers, whose annual median pay is $105,000, according to Matt Sigelman, CEO of job data analytics firm Burning Glass Technologies.

Copyright © 2019 IDG Communications, Inc.

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