Huge incentives offered by top U.S. banks to attract crypto talent

More than 1,000 positions for crypto experts have been generated and filled by America’s leading banks and financial institutions in the three years that have passed.

A Bloomberg report lodged on November 1st stated that a number of financial institutions are providing notable bonuses to draw in crypto talent. Human resource consultant, Johnson Associates, has estimated that positions relating to the handling of crypto are able to pay salaries 20% to 30% higher than other positions that have nothing to do with digital currency.

Johnson Associates furthered that many senior crypto roles are able to receive up to a 50% increase in salary positions that are of equal caliber. Alan Johnson, the firm’s Managing Director concluded:

“The banks can’t run the risk that their clients go to another bank to do these services, so they need to build up.”

Revelio Labs, a reliable research firm has analyzed 287 crypto-related posts from Fidelity, Goldman Sachs, JPMorgan Chase, and Wells Fargo, all of them, major employers of crypto talent on LinkedIn. The research firm concluded that crypto professionals receive an average of 9% pay rise compared to their banking co-workers.

LinkedIn reported in October that site-wide job listings for positions in the field of crypto and blockchains have leaped to a whopping 615% since August 2020.

Bank of America set up its own dedicated crypto research team back in July, Alkesh Shah a representative of the division went on record saying:

“The industry and the technology became too big to ignore.”

Morgan Stanley also built a cryptocurrency research team in September, strengthening that the top U.S. banks are on the prowl to attract crypto talent.