Although blockchain technology is most often associated with banking and finance, it’s used in a huge range of industries, from automotive to health care to gas and oil. This increase in the adoption of blockchain technology has put Blockchain Developers in high demand in the job market today.
As skilled programmers and cryptographers, Blockchain Developers create innovative solutions to challenging problems; and they’re generally some of the highest-paid programmers out there. But these salaries vary by location, experience, education, and skillset. Here’s a closer look at what impacts a Blockchain Developer’s salary.
What determines a Blockchain Developer’s salary?
The average annual salary for a Blockchain Developer in the United States is $129,424 per year, according to data from ZipRecruiter. But experienced Blockchain Developers in some areas of the country are making close to $200,000, and 22% of those polled reported a salary falling within the range of $119,500 to $135,499. So what’s influencing this range?
The rise of remote work has decreased the impact that your geographic location has on your salary. This is good news for anyone who wants to live in a different state — or even a different country — than where their employer is located. And as a Blockchain Developer, you can essentially work from anywhere with an internet connection, as long as you meet any workplace requirements your employer has in place.
Although the impact is smaller than it once was, factors like the cost of living and competition in the area still affect salaries. For example, according to ZipRecruiter, a Blockchain Developer in New York earns an average salary of $141,473 per year, one in California earns $136,052 per year, and one in Arizona earns $125,870.
While some employers require at least a Bachelor’s Degree for Blockchain Developers, you’ll also see job postings without an education requirement. This is in part due to tech companies moving away from degree requirements, and it’s also because you can gain the knowledge and skills you’ll need to be a successful Blockchain Developer in ways other than a formal degree.
You can learn specific blockchain skills through professional development training, like taking online courses. And you can leverage those skills when you’re negotiating your salary. If you’re new to the workforce, an internship is another opportunity where you can learn on-the-job skills before applying to a full-time position.
But since formal degrees still hold weight in the job market, having one can give you a competitive advantage during the job-hunting process and while you’re negotiating your salary (at least for your first job). Degrees that are most relevant to blockchain development include computer science and information technology, and other related disciplines, like data science and math, can also prepare you for work in this field.
While there are specific degrees in blockchain development, this is a relatively new area for universities and colleges across the U.S. You’re more likely to see specific courses on topics, like blockchain ethics and cryptocurrencies, as well as developer boot camps, offered to students.
The amount of time you’ve been working in your field is one of the biggest factors that will affect your earning potential, especially when you’ve been working in the field for a long period of time. In most cases, the more years of experience you have, the higher your salary will be.
Based on data from Glassdoor, entry-level developers, those with 1-3 years of experience, earn an average salary of $96,676. Mid-level developers with 4-9 years of experience fall within the range of $104,799-$110,114. And senior developers who have 10 or more years of experience earn salaries of $115,000 and above. Keep in mind that senior developers may be working in management positions and overseeing and directing junior and mid-level developers on multiple projects.
If you’re applying for entry-level positions and looking for ways to add experience to your resume, an internship is a great place to start. You’ll gain real-world experience while learning both hard and soft skills, and it’s something you’ll be able to highlight during the interview process.
Beyond your college degree and/or nontraditional education, keeping up with the ever-evolving technology in blockchain can help you boost your salary.
Programmers need to continually invest in learning skills that will help them perform their job and stay competitive in the job market when searching for a new role. This might look like taking a course to learn a new programming language or tool, attending a relevant conference, or even just staying up-to-date on the industry via Twitter.
As a Blockchain Developer, you can choose a specialty within your field to focus on, and having a specific expertise can oftentimes position you to negotiate a higher salary. Some specialties that Blockchain Developers can focus on include data structures, blockchain architecture, cryptography, web development, and smart contract development.
How to start your Blockchain Developer career
If you’re thinking about becoming a Blockchain Developer, your first step is to learn about how blockchain technology works and how it’s being used — which we cover in our Introduction to Blockchain and Crypto course.
Then you’ll want to get familiar with the programming languages used for blockchain development, including:
Other skills you’re likely to see listed on job descriptions are Node.js, React.js, and experience in DevOps environments, and our courses Learn Node.js, Learn React, and Introduction to DevOps cover these topics in depth.
Once you’re ready to start applying for jobs and interviewing, you can find advice on resume writing, portfolio creation, and interview prep at our Career Center.