New Delhi: Wage battle continues for experts cryptocurrency Technologies, such as blockchain, are driven by demand from IT services companies serving global clients, consulting firms and fintech startups.

Demand for crypto-tech talent has surged in India over the past 8-10 months, with the number of active jobs this month exceeding 12,000 – a 50% increase from a year ago, according to a latest report by Expert Staffing Service firm Xpheno.

Since crypto technology itself is over a decade old, the number of experts in this field is limited. This shortfall in crypto talent is pushing the salary up to Rs 80 lakh per year for those with 8-10 years of experience.

“Despite the 12-year life of the cryptocurrency domain, its mainstream visibility and talent-related focus is less than a decade old,” said Kamal Karanth, co-founder of Xpheno.

According to a report by IT industry body Nasscom and cryptocurrency exchange WazirX, there are 50,000 professionals working in the crypto-tech industry in India. Sangeeta Gupta, Senior Vice President, Nasscom, told ET, “With the domain growing in India, we expect 30 per cent more jobs to be created in the coming months.

Mostly, IT services companies serving global clients, consulting firms and startups are hiring crypto talents. The top skills they are looking for include blockchain, machine learning, security solutions, RippleX solutions, front-end (including ReactJs, VueJS and TypeScript) and back-end (such as NodeJs, Python and Golang) skills, data analysis and UX/UI.

With more jobs chasing a small niche pool of accessible crypto-tech talent, the number of offers per candidate is on the rise. “Candidates are negotiating with 4-5 proposals, which has become a common occurrence for top technical skills,” said Karanth.

This is translating to a 30-60% reduction of talent supply in high-demand skill sets. For some specific skills in crypto, Cyber ​​securityAs reported by Xpheno, the gap between data science, AR/VR and AI/ML has widened to 50-70%.

While new talent waits to be trained to increase the supply, “competition and wage battles for existing talent will continue for the next two years”, said Karanth.

Read also:
Many Indian tech experts get paid in crypto, say it’s fast and easy

Currently the active job count of 12,000 registered in the crypto domain includes applications published, fresh and accepted in the last 30 days. As per the Xpheno report, the total number of openings, which include active jobs exceeding the 30-day cut-off, is about two and a half times the active count.