• Top US banks are offering substantial incentives to entice crypto talent

  • According to LinkedIn, crypto-related job postings have increased by more than 600% since August of last year.

    Over the last three years, top US-based banks and financial institutions have filled over 1,000 positions for crypto experts.

    Financial institutions are offering significant bonuses to attract crypto talent, with human resource consultant Johnson Associates estimating that crypto positions pay between 20% and 30% more than comparable non-digital currency positions.

    The firm also stated that many senior crypto roles benefit from a salary increase of up to 50% over comparable positions, with managing director Alan Johnson concluding:

    “Banks cannot afford to take the risk that their clients will go to another bank to do these services, so they must build up.”

    Revelio Labs examined 287 crypto-related hires from Goldman Sachs, Wells Fargo, Fidelity, and JPMorgan Chase — the four largest employers of digital asset talent on LinkedIn. According to Revelio, crypto specialists earn an average of 9% more than their banking counterparts.

    LinkedIn reported in October that job postings for crypto and blockchain positions had increased 615 percent since August 2020.

    In July, Bank of America established a dedicated crypto research team, with Alkesh Shah of the division stating, “The industry and the technology became too big to ignore.”

    Morgan Stanley also established a cryptocurrency research team in September, indicating that top U.S. banks are looking for crypto talent.

    What's your reaction?