Blockchain analysts are specialists in devising digital solutions with blockchain technology. This allows large amounts of information to be shared and distributed on the Internet without being copies. The information is never stored in a central location, such as on a server. Blockchain engineers and analysts often work for finance and data service firms.
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These analysts much develop and implement assets and accelerators, help with the companies infrastructure as it interacts with the blockchain, using technologies and cryptocurrencies such as bitcoin and ethereum.
A blockchain analyst may perform analysis of code artifacts and offer training to junior analysts. Blockchain analysts may also determine when applications should be released and monitor implementation to ensure all projects have been completed on time. Some blockchain engineers may create the document infrastructure for the company’s application and implement methods to ensure the backend functions properly.
Top skills that you need to succeed as a blockchain analyst are:
- Web development: Understand front-end, back-end web development to design decentralized applications
- Data structures: Understanding of petrecia trees and Merkle trees.
- Data architecture: Understand hash functions, distributed ledger technology, and cryptography.
- Smart contracts: Involves Viper, Solidity, and Chaincode languages
- Cryptography
If you are interested in a career as a blockchain analyst, below is important salary information to consider.
Blockchain Analyst Salary Outlook
Bureau of Labor Statistics
The Bureau of Labor Statistics does not compile salary data for blockchain developers, but it notes that salaries for software developers of applications were $103,600 in 2018 with a range between $61,600 and $161,200. The median salary for systems software developers was $110,000 with a range between $66,700 and $166,900. (BLS.gov)
Top industries for applications software developers were:
- Software publishers: $114,400
- Manufacturing: $110,200
- Finance and insurance: $107,900
- Management of companies and enterprises: $104,200
- Computer systems design and related services: $100,000
Top industries for systems software developers were:
- Manufacturing: $118,000
- Engineering services: $113,200
- Finance and insurance: $111,300
- Software publisher: $110,900
- Computer systems design and related services: $108,700
Payscale.com
Payscale.com reports the average salary for a person with blockchain technology skills is $108,000. (Payscale.com). This site does not have much additional data for people skilled in blockchain.
However, it is instructive to review average software engineer salaries: $84,600, with a range between $61,000 and $125,000. Professionals with blockchain programming skills should be able to earn at least $125,000 per year.
Below are some company salaries for software engineers:
- Microsoft: $117,000
- Northrop Grumman Corp: $80,000
- Google: $119,000
- Cisco Systems: $107,000
- Lockheed Martin: $77,000
- IBM: $92,000
- Intel: $96,000
- Raytheon: $74,000
CNBC.com
This media outlet reported recently that job demand for blockchain analysts and engineers has never been higher. Many blockchain analysts are earning $150,000 to $175,000 per year. That is a hefty premium over the typical $135,000 salaries that software engineers make. Salaries for analysts with experience in blockchain are similar to those for people with skills in artificial intelligence. (CNBC.com)
Demand for blockchain analysts is growing as big companies are working on projects that use blockchain, such as Facebook, Amazon, IBM, and Microsoft.
Ziprecruiter.com
Ziprecruiter.com reports the average salary for a blockchain analyst is $110,900 per year with a range between $30,000 and $200,500. Most blockchain analysts earn between $67,500 and $146,500. Those with the highest education and experience can expect to make close to $150,000 or even more. (Ziprecruiter.com)
Indeed.com
Indeed.com reports the following salaries for people with blockchain skills:
- Software architect: $138,000
- Full stack developer: $113,200
- Director of product management: $172,200
- Developer: $92,700
- Product manager: $106,000
- Software engineer: $107,000
- Principal software engineer: $145,000
- System engineer: $104,000
- Innovation manager: $96,000
- Block manager: $81,800
- Senior managing consultant: $156,000
- Engineer: $87000
- Risk analyst: $82,700
- Senior developer: $98,500
Job Outlook for Blockchain Analysts
The Bureau of Labor Statistics reports that job demand for the related position of software engineer and software developer is high and growing. Developers and engineers with blockchain skills will see a 21% growth in jobs by 2028, which is much faster than average. Also, the employment of application developers will rise by 26%, and the employment of systems developers will increase by 10%. (BLS.com)
The reason for the growth in thee roles is the greater demand for computer software in both systems and applications. Also, the health and medical insurance industries need new software to manage healthcare policy enrollments and to administer current policies online.
Systems developers will see new jobs because of more products using software. There also is growth for analysts, engineers, and developers in financial companies who are using blockchain.
Demand for blockchain analysts is growing as big companies are working on projects that use blockchains, such as Facebook, Amazon, IBM, and Microsoft. The website Hired added blockchain as a sub-specialty on its website in 2017. Since then, the company has seen job postings for blockchain analyst jobs rise by 400%.
According to the CEO of Hired, there is a massive demand for blockchain that will not disappear. Mehul Patel said that software engineers, in general, are in very short supply, but this demand for blockchain professionals is even more acute which is why salaries are so high.
At this time, these types of blockchain jobs often have titles such as back-end engineer, systems engineer, or solutions architect, and more of these jobs are listing blockchain as a desirable skill for the job. People who want to see the best job demand in blockchain should have skills in Java, JavaScript, C++, Go, Solidity, and Python. (CNBC.com)
Another source reports that by 2012, 90% of current companies will need to replace their current blockchain infrastructures to stay competitive and protected and not become redundant. Businesses from almost every country have or will be implementing blockchain in the development and processes. (Datafloq.com)
Average Blockchain Analyst Salary by State
| State | Hourly Wage | Annual Salary |
|---|---|---|
| New York - Blockchain Analyst | $58.55 | $121,794 |
| Massachusetts - Blockchain Analyst | $58.13 | $120,917 |
| New Hampshire - Blockchain Analyst | $56.72 | $117,983 |
| Maryland - Blockchain Analyst | $53.96 | $112,230 |
| Hawaii - Blockchain Analyst | $53.70 | $111,701 |
| Connecticut - Blockchain Analyst | $53.55 | $111,378 |
| Alaska - Blockchain Analyst | $53.54 | $111,371 |
| Montana - Blockchain Analyst | $53.54 | $111,371 |
| North Dakota - Blockchain Analyst | $53.54 | $111,371 |
| Wyoming - Blockchain Analyst | $53.54 | $111,371 |
| Nevada - Blockchain Analyst | $53.54 | $111,371 |
| Idaho - Blockchain Analyst | $53.54 | $111,371 |
| Vermont - Blockchain Analyst | $53.40 | $111,075 |
| Nebraska - Blockchain Analyst | $53.30 | $110,859 |
| Washington - Blockchain Analyst | $53.27 | $110,794 |
| Rhode Island - Blockchain Analyst | $52.72 | $109,651 |
| California - Blockchain Analyst | $52.69 | $109,588 |
| Virginia - Blockchain Analyst | $52.43 | $109,046 |
| Arizona - Blockchain Analyst | $51.87 | $107,881 |
| New Jersey - Blockchain Analyst | $51.53 | $107,189 |
| Colorado - Blockchain Analyst | $50.85 | $105,776 |
| West Virginia - Blockchain Analyst | $50.82 | $105,715 |
| Minnesota - Blockchain Analyst | $50.63 | $105,303 |
| Pennsylvania - Blockchain Analyst | $50.62 | $105,296 |
| South Dakota - Blockchain Analyst | $50.60 | $105,257 |
| South Carolina - Blockchain Analyst | $50.53 | $105,102 |
| Tennessee - Blockchain Analyst | $50.33 | $104,694 |
| Delaware - Blockchain Analyst | $50.31 | $104,646 |
| Oregon - Blockchain Analyst | $50.26 | $104,547 |
| Utah - Blockchain Analyst | $49.91 | $103,816 |
| Ohio - Blockchain Analyst | $49.81 | $103,615 |
| Kentucky - Blockchain Analyst | $49.76 | $103,499 |
| Indiana - Blockchain Analyst | $49.48 | $102,908 |
| Oklahoma - Blockchain Analyst | $49.35 | $102,655 |
| Louisiana - Blockchain Analyst | $49.21 | $102,356 |
| Wisconsin - Blockchain Analyst | $49.12 | $102,178 |
| Kansas - Blockchain Analyst | $48.97 | $101,861 |
| Maine - Blockchain Analyst | $48.93 | $101,765 |
| Iowa - Blockchain Analyst | $48.81 | $101,533 |
| Texas - Blockchain Analyst | $48.00 | $99,834 |
| Georgia - Blockchain Analyst | $47.83 | $99,477 |
| Arkansas - Blockchain Analyst | $47.64 | $99,101 |
| New Mexico - Blockchain Analyst | $47.37 | $98,539 |
| Alabama - Blockchain Analyst | $47.02 | $97,805 |
| Michigan - Blockchain Analyst | $46.97 | $97,697 |
| Illinois - Blockchain Analyst | $46.82 | $97,390 |
| Mississippi - Blockchain Analyst | $46.29 | $96,290 |
| Missouri - Blockchain Analyst | $45.82 | $95,310 |
| Florida - Blockchain Analyst | $45.14 | $93,881 |
| North Carolina - Blockchain Analyst | $41.05 | $85,381 |
Source: Ziprecruiter.com, January 2020.
Summary
Job demand for blockchain analysts is growing fast and will not stop for a long time. Professionals with blockchain and related programming skills can command salaries from $100,000 to $200,000, so it is an excellent career to consider.