Careers in Crypto: 5 Insights for 2024

As an analyst, I find myself astonished by the response to a recent job posting on LinkedIn for a Crypto Product Marketing Manager. In mere five business days, the position garnered over 500 applications, which underscores the growing interest and demand within the cryptocurrency industry.

As Web3 gains broader acceptance, there’s been a significant surge in the need for professionals in cryptocurrency and blockchain businesses. This trend is expected to persist, with companies also expanding their workforces. In July 2024 alone, Crypto Jobs List, a job board, noted approximately 600 new job openings in the crypto and blockchain sectors.

From my perspective as an analyst, the intense job market buzz could be attributed to a few key factors. Firstly, we’re witnessing a post-long bear market dash among industry professionals who not only survived but are eager to reignite growth and momentum. This is further fueled by a surge in productivity and funding across various sectors.

2. A Lack of Good Product & Marketing Talent

Crypto Twitter has expressed a clear lack of true talent in the product and marketing departments.

In emerging industries, it’s tough to find seasoned professionals who have demonstrated their capabilities due to a scarcity of experienced candidates. While there are numerous energetic and action-oriented individuals within this field, the question arises: How can we ensure they will deliver results when they haven’t yet had the opportunity to advance?

It’s possible there could be a skill disparity due to the influx of product and marketing experts transitioning from diverse sectors, since many companies value professional experience over technical proficiency.

Struggling to locate individuals with a solid reputation and trustworthiness, both internal hiring groups and founding teams find it challenging to delegate roles effectively.

Maybe competitions could be organized to demonstrate innovative skills in product and marketing development, but it’s challenging to show long-term execution without previous experience. This dilemma often leads to executives moving between different industries, which is known as the vicious cycle because each side needs proof of success from the other.

3. VC Funding Effects on Hiring

The funds are flowing to crypto companies and the data shows. According to PitchBook data, crypto focused VCs shelled out $2.01 billion in the first three months of 2024, already surpassing the $1.9 billion raised in the entirety of 2023.

As someone who has been actively involved in the tech industry for over a decade, I’ve witnessed firsthand how rapid technological advancements have significantly impacted business strategies and product development timelines. In my experience, these innovations have led to an immediate increase in the demand for skilled professionals, especially those with expertise in emerging technologies like AI, IoT, and blockchain. Companies are scrambling to hire these individuals to help them reach their goals of bringing cutting-edge products to market quickly. This trend has been a game-changer for both businesses and job seekers alike, as the tech sector continues to expand at an unprecedented pace.

As resources keep pouring in, I eagerly anticipate an extended phase of recruitment success, allowing us to expand our team. Simultaneously, let’s focus on honing the skills within our crypto market talent pool to ensure we can guide individuals effectively towards their destinations. The enthusiasm and expectations for companies to fulfill their product and service commitments are palpable, and with the right manpower, I believe we can make it happen.

4. Institutions Building Out Their Digital Asset Teams

A significant number of major financial corporations are in the process or have already established departments dedicated to digital assets and blockchain technology. These teams are expanding gradually, although widespread institutional acceptance may still take some time according to the Crypto Summit 2024 organized by Coinbase.

Moreover, prominent financial entities such as Goldman Sachs, JPMorgan, the Riksbank (Swedish Central Bank), HSBC, State Street, and Morgan Stanley are also participating in this venture.

While widespread institutional acceptance may still be a distant prospect, the expansion is undeniably taking place, and it’s exciting to observe how this trend unfolds in the coming years, potentially leading to an increase in job openings related to blockchain technology.

5. Finding Your Next Role in Crypto

Currently, finding a job is quite competitive. There are many applicants vying for positions, and employers are meticulously seeking the most suitable candidates.

When job hunting, remember the saying “quality over quantity.” Apply for positions where you have strong qualifications and genuine interest. Customize your resume to match the job descriptions you’re targeting. This way, potential employers can quickly see that you are an excellent match for the position they are offering.

As a crypto investor, I prioritize investing time and resources into building a strong employer brand. This means maintaining an active presence on platforms like LinkedIn, where potential hires are most likely to be found. Additionally, I nurture relationships with recruiters who have connections to top talent within the industry.

Job applicants: Stay positive and persistent, continue job hunting. Use this time to improve your abilities and personal growth as well.

In the chaotic crypto market where opportunities seem scarce, remember to be patient with yourself. Amidst the sea of AI and desperate job seekers, your unique identity matters more than ever. Rely on your network, connect with The Crypto Recruiters for potential openings, and work on establishing a strong personal brand that showcases your individuality and expertise.

Please take note that the opinions shared within this article belong exclusively to the author, and they may not align with the views held by CoinDesk Inc., its proprietors, or their associates.