Blockchain-related salaries are rising fast in Russia – with developers also starting to command higher salaries than most of their IT professional peers.
Even though the government and the central Bank of Russia continue in their efforts to marginalize the sector, it appears that some bigger companies and startups are still banking on crypto success in the long run.
Last week, Reuters reported, the Federal State Statistics Service (Rosstat) released quarterly data showing that the Russian economy had actually grown by a staggering 10.5% year-on-year for “its strongest leap since 2000.”
But for some, that expansion and any accompanying profitability are already being reinvested – in developers’ and analysts’ skyrocketing salaries.
Speaking to Izvestia, Natalia Golovanova, an executive with the Russian employment platform SuperJob, said that the highest annual salary growth rates are now to be found in the domestic IT sector.
She explained that in nominal terms (with inflation excluded), growth in the wider tech sector “amounted to 23.3%, and in the first two quarters of 2021, salaries increased by 13.8%.”
But it is blockchain specialists who are now getting the truly plum salaries in Russia. The report’s authors noted that most newly hired developers in Moscow could expect salaries of around USD 2,745 per month (in a city where the average salary is about USD 1,470 per month). But in the case of blockchain analysts, the figure could rise to just shy of USD 5,000, more than even experts like DevOps engineers and 1C (Enterprise) programmers.
Cryptonews.com also found blockchain and crypto-related job postings both on SuperJob and other platforms posting starting monthly salaries up to USD 5,000 – with one Moscow-based firm looking for a senior front-end developer on a blockchain “project” and offering up to over USD 6,850 a month.
Izvestia quoted Yuri Mikheev, the head of the Zarplata.ru analytics department, as stating that in “early autumn 2021,” the “highest-paid vacancies” outside senior execute positions are to be found “in the IT field,” where salary growth had shot up by 11%.
Mikheev concluded that “analysts and developers in the field of blockchain” were among the most sought-out candidates in the industry – and could command some of the best-paying salaries on the market.