Crypto Jobs Pay Sky-high Wages in Russia, But ‘Overheating Is Over’

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023

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Crypto jobs are among the highest-paying in Russia, per a new report – but experts believe salaries could plateau or even bottom out after “overheating” in the wake of the crypto boom of 2017.

Per data from job portal Rabota.ru and Russian postings on Cryptocurrencyjobs.com, as reported by RBC, blockchain developers can demand up to just shy of USD 8,500 a month, putting them on a par with the kind of salaries offered by leading European and American firms.

In some cases, crypto-specific knowledge can help add a massive boost to a salary: While a chief technical officer (CTO) for an average Moscow-based startup can expect to receive up to USD 4,200 per month, in the case of crypto-related startups that figure can climb as high as USD 11,200.

The EXMO exchange’s head of development Maria Stankevich told Cryptonews.com that crypto salaries are currently “overheated,” not only for IT developers, but “also for marketing and PR specialists, especially at the C-level.”

She stated that high salaries in crypto jobs used to “make sense during the [initial coin offering] ICO era,” and said,

“The market was crazily overheated itself back then. But now the bubble has burst.”

Some believe that even blockchain developers – whose salaries are still skyrocketing in countries like China – realize they may have hit a ceiling with Russian companies.

Stankevich added,

“We hire a lot of people in CIS countries (and in Moscow and Kyiv especially), and we see that unrealistic demands have gone. I believe that the only employees with growing salaries on the market will be sales professionals with a proven track record in sales and C-level management.”

The national average monthly salary in Russia stands at around USD 700.
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Learn more: Irish Firms Pay Blockchain Devs More than US Counterparts – Report