As with every technology and skill set the dynamics shift over time. There is typically a cycle of insufficient supply of talent (often accompanied by high salaries for the early experts). This is followed by an influx of talent seeing the opportunity and moving into the sector. Eventually, as the technology becomes established, the supply and demand of talent even out and we see a subtler yo-yoing between supply and demand.
Data from Google trends shows that the number of people searching for the term “Blockchain Jobs” seems to have peaked in August 20018 (about 8 months after Bitcoin peaked in value) and now seems to have leveled off. This leads us here in the Blockchain recruitment team at CK Technical to think that the job seekers in this market have moved beyond the stage of it being seen as a hyped market.
It has quickly become a more established career option to be considered alongside other options. This also means that as the numbers of companies using Blockchain technology and Smart contracts continue to grow, we are reaching a point in the cycle where employers are back to having to work hard to attract talent and differentiate themselves in a market that has an increasing demand with a limited supply. This is supported by anecdotal evidence from our recruitment team that is now regularly seeing candidates receive multiple offers to consider at any time.
Where are the jobs and the people?
Coin Telegraph posted a detailed report comparing the Blockchain jobs market for 2018 vs 2019 (https://cointelegraph.com) which seemed to show that the demand for talent remained strong in 2019 with the USA being the most popular location for vacancies.
Despite the USA being popular for vacancies, Google trends data highlights the origin locations of searches for “blockchain jobs” with fascinating results (data from Jan 31st 2020). Interestingly it showed St Helena (an island in the South Atlantic Ocean) as the most popular location by far.
This coincides with the searches here for the term Bitcoin which is worthy of further investigation (at another time – https://beincrypto.com/these-were-the-most-bitcoin-curious-cities-over-the-past-year/). However, other locations that come as less of a surprise are Singapore, Switzerland, India, and Ireland. All areas are known for either their tech-savvy workforce or their keen interest in the Blockchain ecosystem.
CK Group are active in supporting the talent supply for the Blockchain community globally and this year our specialist Blockchain recruitment team at CK Technical launched our own tracker to monitor the number of Blockchain jobs advertised and will be tracking this on a monthly basis and we will be reporting this back to the market.
If you would like to be kept up to date with the employment trends, potential vacancies or the types of talent available in the marketplace, please get in touch with Alex Tosney at CK Technical.