Data released by the recruiting platform hh.ru and quoted by Izvestia, reveal that the average monthly payment in the Russian crypto industry has fallen by 40 percent from the 2017 levels.
Securities analysts, project managers, and legal experts are generally being paid less by employers – 100,000 rubles (~$1,600 USD). However, the demand for PR specialists is quite high. In spite of such a high demand, the salary offer for these experts has fallen by 50 percent – from 00,000 rubles (>$12,000) in December to 400,000 rubles now (>$6,000) – which is still a very high wage for Russian standards.
According to experts, the reason for this is the downward trend with the bearish crypto markets this year and the cooling interest towards cryptocurrencies like bitcoin. Reports from hh.ru reveal that there are about 100 new vacancies that were posted by crypto and blockchain companies, in the first half of the year. This fact shows there is a stable demand for expertise in the sector. Fintech businesses are also willing to offer good salaries to tech directors, besides PR specialists: up to 600,000 rubles ($9,500), and software developers – 300,000 rubles (almost $5,000).
In the first half of 201, the average salary in the crypto industry was estimated at 169,500 rubles ($2,700). In the latter part of 2017, the salary was up to 292,000 rubles ($4,600). In a bit of comparison, we notice that the directors of various departments in Russian ministries and their deputies receive between 200,000 and 800,000 rubles, or approximately $3,000 to $12,000 USD.
Rosstat, the country’s statistical bureau reveals that the average monthly payment in the Russian Federation was 41,800 rubles, or $663 USD, as of May 2018.
About 70,000 Russians are currently employed by companies operating in the crypto space, according to the Russian Association of Cryptocurrencies, RACIB. Most of them are being paid in fiat currency.
Arseniy Shcheltsin, RACIB’s director, claims the salary of some experts can increase by 10 percent as the demand is constantly growing. “The average remuneration for programmers and software developers in 2017 was reaching 360,000 rubles per month ($5,700), and now it’s between 150,000 and 350,000 rubles ($2,400 – $5,500 USD).”