American Banks Offer High Salaries to Attract Crypto Experts

Over 1,000 posts for crypto talents have been filled by the main American banks and financial organizations in the course of three years. 

Companies are willing to provide high incentives to lure crypto talent, as reported by Bloomberg. Johnson Associates, the human resource consulting in New York City, declared that crypto positions pay 20% to 30% more than equivalent positions that are not tied to digital currency.

Many senior crypto roles benefit from a pay increase of up to 50% in comparison to other positions, according to the firm.

Alan Johnson, the managing director, explains that banks need to catch up with the crypto sector as they don’t want their clients to go elsewhere.

The four greatest employers of digital experts on the professional social networking site LinkedIn are Goldman Sachs, Wells Fargo, Fidelity, and JPMorgan Chase. They posted 287 hirings related to the crypto industry, something that was examined by Revelio Labs, the research organization. According to Revelio, crypto professionals earn an average of 9% more than their banking colleagues. 

Job postings for positions related to crypto and blockchain have increased by 615% since August 2020, reports LinkedIn.

In July, Bank of America started a crypto research team. Alkesh Shah, the Global Crypto and Digital Asset Strategist at Bank of America explained that the bank could no longer ignore the crypto industry as it was becoming too powerful. 

Morgan Stanley, the investment banking company, also established a research team on crypto, emphasizing, even more, the truth that U.S. banks are looking to hire crypto experts. 

Also Read: Russia’s Largest Online Bank Wants to Provide Crypto Investment Services