Cryptocurrency exchange Bitget recently pointed out in a report that traditional financial professionals are seeking job opportunities in the cryptocurrency industry, and the main reasons attracting them are high salaries, industry reputation, development opportunities, and flexibility.
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In a recent report, Bitget, a cryptocurrency exchange, pointed out that with the development of the blockchain industry, the traditional banking industry is not only continuously expanding its adoption of blockchain technology but also facing talent loss, with many traditional financial practitioners choosing to transition to the blockchain field.
One-third of cryptocurrency job seekers have worked in traditional finance
According to the Bitget report, 33% of job seekers at cryptocurrency exchanges have previously worked in the banking industry. The number of resumes increased from 880 to 1,440 within two years: a growth rate of 113% in 2022 and a staggering 143% in 2023.
In terms of positions, senior positions in investment relations, business development and sales, KYC and compliance, data analysis, product design, project management, and backend engineering are the most common. Among them, 23% of job seekers hope to apply for positions such as KYC manager, compliance assistant manager, senior compliance assistant manager, and anti-money laundering analyst.
Development potential and high salaries attract traditional financial professionals
Regarding this phenomenon, Bitget explained that factors such as high salaries, industry reputation, development opportunities, and flexibility, combined with the sharp decline in traditional banking income, are the main reasons why these employees are migrating to the cryptocurrency industry.
In terms of salary, Bitget cited the significant difference in salaries between traditional banking and the cryptocurrency industry using London as an example:
The starting salary for junior engineers at local cryptocurrency startups is approximately $125,000 with bonuses, while investment banks offer a starting salary of $87,810 for similar positions. The average salary in banking is $54,000, while the average salary in the cryptocurrency industry is approximately $115,667.
In response to this, Gracy Chen, General Manager of Bitget, stated:
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