What is the Block chain Developer Salary in India?

The block chain era is here and now. Companies from different industries are familiar with the concept of decentralized general ledger. There is a worldwide wave of block chain adoption by companies and businesses to solve basic business problems. In fact, the advent of block chain technology is happening so quickly that Gartner predicts that the commercial value of block chain technology will exceed $ 3 trillion by 2030.

According to a 2018 PwC survey of 600 executives from 15 different regions, almost 84% of respondents said they used block chain in one way or another. India is also catching up with the upward trend in block chain adoption. Given the growing interest of state and private companies in block chain, the labor market in this area is currently booming.

Demand of Block chain Developers in India

As an emerging technology that has only recently gained a foothold in the past few years, block chain talent is hard to find. Block chain is one of the fastest growing skills today. Jobs in this area are increasing by an astonishing 2000 to 6000% and salaries for block chain developers by 50 to 100%. Higher than traditional developer jobs. Although there are many vacancies in block chain, the talent pool in this area is limited. The demand for block chain technologies, especially block chain developers in India, is generated not only by the BFSI sector, but also by healthcare, education, supply chain management and IT cloud, stock trading, real estate and even government agencies.

The most sought-after block chain capabilities are hyper ledger, Solidity, Ripple and Ethereal. However, since this area is relatively new, companies are often content with professionals with specific skills. For example, block chain developers must have basic knowledge of mathematics and algorithms. You should be familiar with C, C ++, Java and Python as most block chain projects are written in these languages.

In addition, block chain developers need to know at least some of the tools required for block chain development, such as Geth, Remix, Mist, Solium, Parity, BaaS and Truffle, to name a few. They should also have experience working on open source projects. Usually, most companies hire block chain developers with at least a bachelor's degree in math or computer science.

Overall, a block chain developer must have solid technical training and always be curious to learn new technologies.

Read More: Why Corporate Training is important for Business

Average Salaries of Block chain Developer in India

Due to the lack of talent and skills in this area, employers are always willing to pay blockchain professionals a high salary if they are worth it. In fact, a blockchain technician's salary is much higher than that of an average IT professional. If you have the right blockchain skills, you can double or even triple a software developer's salary in a year.

As more and more Indian companies and organizations join the blockchain train, the average annual salary of a blockchain developer in India has a wide range. Typically, a blockchain developer's salary in India is somewhere between Rs. 5,00,000-30,00,000 LPA. As can be seen, the higher your experience and skills, the higher your annual remuneration. The salary package also depends on whether a candidate has advanced certifications or not (job level, mid level, senior level).

In addition, blockchain job wages are very dynamic. For example, if a professional has three years of blockchain experience, the annual remuneration can reach Rs 45,000,000 or more. This is more than twice as much as a professional with five years of work experience (but no experience in blockchain technology).

High-level salaries for technological positions (without blockchain expertise) ranged from 1.5 to 2.5 billion rupees in 2018. As the need for security in various sectors, particularly in the United States, has increased significantly BFSI sector, companies are ready to pay more than Rs. 4 crores for high-level security experts and blockchain technicians.

There is a significant gap in the demand and supply of blockchain professionals in India. Of the 2 million software developers in India, only 5,000 have blockchain knowledge. Public sector banks currently dominate the game and, with around 4,000 specialists in this area (2018), represent the highest demand for blockchain developers compared to 2,300 experts in 2017. This corresponds to an increase of 75% in demand from blockchain specialists. According to TeamLease research, there are around 2,000 blockchain experts in the NBFCs and 2,400 in public sector companies.

Conclusion

However, since blockchain skills are primarily developed and promoted internally by employers, we hope that there will be more talented blockchain professionals in the near future.

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