PR Experts from the Russian Crypto Space Paid 10x the Ordinary Salary
PR Experts in the Russian Crypto Space Paid 10x the Normal Salary
The typical monthly payment in the Russian crypto business has dropped by 40 percent from the 2017 amounts, according to data published by the recruiting platform hh.ru and offered by Izvestia. PR experts, on the other hand, remain in high demand. Despite this, the wages offered for all these specialists have dropped by 50 percent – by 800,000 rubles (>$12,000) in December to 400,000 rubles currently (>$6,000) – nevertheless a very high wage for European standards.
70,000 Russians Used in the Crypto Industry
The average salary in the crypto industry in the first half this season is estimated in 169,500 rubles ($2,700). Towards the end of 2017, it had been reaching 292,000 rubles ($4,600). In comparison, the supervisors of different departments in Western ministries and their deputies receive between 200,000 and 800,000 rubles, approximately $3,000 to $12,000 USD. According to Rosstat, the country’s statistical agency, the typical monthly payment in the Russian Federation was 41,800 rubles, or $663 USD, as of May 2018.
According to the Russian Association of Cryptocurrencies and Blockchain (RACIB), around 70,000 Russians are now employed by firms operating in the crypto space. The majority of these, however, are getting paid in fiat money. RACIB’so director, Arseniy Shcheltsin, claims the demand for some specialists is still increasing and their wages can grow by 10 percent.
Experts describe that the downward trend with all the bearish crypto markets this season and also the cooling towards cryptocurrencies like bitcoin. But hh.ru reports some 100 new vacancies published by crypto and blockchain businesses in the first half 2018, which suggests a stable demand for expertise in the industry. Beside PR experts, fintech businesses are also inclined to offer great salaries to technician supervisors – up to 600,000 rubles ($9,500), and applications programmers – 300,000 rubles (almost $5,000).
An important element that needs to be considered is that the fall in the capitalization of the majority of cryptocurrencies since the start of the year that has contributed to decreasing corporate budgets. The purchase price of bitcoin (BTC) has dropped from its all-time high of almost $20,000 in December, 2017 to under $6,000 in the first half 2018. The current upward tendency, however, could change the present situation. Another trend influencing the labour market in the industry, according to experts quoted by Izvestia, is that the requalifying of numerous experts from other associated industries looking for better employment chances in the crypto space.
Also read Three Russian Universities Insert Crypto Courses and Diplomas
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Around 70,000 individuals are currently employed in the young and growing crypto industry in the Russian Federation. The average salary in the distance has dropped by 40 per cent this season, together with cryptocurrency rates. Nevertheless, the monthly remuneration for particular abilities remains very large for Russian standards.