5 Myths About Hiring for Blockchain & Cryptocurrency


5 Myths About Hiring for Blockchain & Cryptocurrency

Date: 18 Oct 2017

As recruiters in the blockchain and cryptocurrency spaces, we come across a variety of skill sets.  And we take the duty of identifying your strengths very seriously.  Still having doubts about where your expertise fits within distributed ledger technology and cryptocurrency?  Allow cryptorecruit.com to share some widely believed myths, and the indisputable realities about the market’s current state of affairs. 


MYTH: I don’t have a degree in computer science, therefore I don’t stand a chance in the job market.


REALITY: While the United States spends the most amount per year in the world on investment in academic and institutional IT education, only 40% of employers require a bachelor's degree or greater as minimum credentials for entry level jobs.  What’s more is that only 7% of universities in the US offer professional degree programs in the IT field.  A study of the international cybersecurity sector commissioned by Microsoft Intel found that out of 750 companies seeking programmers and developers, only 23% agree that a degree program is proof of preparedness for the job.  In fact “a degree is more of a signal of general competence than an indicator of directly relevant skills”, according to the Microsoft study, in which respondents from the US, the UK, Australia, Mexico, France, Germany, Israel, and Japan “cited professional certifications as effective way to demonstrate skills.” 


MYTH: Cryptocurrency is a bubble, therefore this job market and a future career in the blockchain industry are insecure.


REALITY: While we're not here to argue about the likelihood of a cryptocurrency "bubble", the fact remains that IF a bubble becomes a reality, it will not and could never deter from the growth potential of distributed ledger technologies, nor the projected value of the FinTech job market.  Lets consider the numbers:   More than $100 billion was spent on software development and cybersecurity in 2015, with projected increases of 16% over the next 5 years. To up the anty, many of the top tech companies in the US do not have budget caps for their IT and cybersecurity divisions.  Now compare that with the epidemic of IT personnel shortages that 82% of companies from the US, the UK, Australia, Mexico, France, Germany, Israel, and Japan are currently experiencing.  The IT job market, and particularly the cryptocurrency and DLT job markets, are ripe for career carving.  


MYTH: My skills and IT certifications are outdated, and I can't afford to take re-certification exams, therefore I don’t stand a chance in this competitive job market.


REALITY:  On the contrary, unconventional talent-attracting events, like hackathons, "provide an effective channel to identify talent and develop cybersecurity skills.”  According to the Microsoft Intel study, 68% of respondents reported that hackathons serve a crucial role in developing critical cybersecurity skills for internal growth.  Similarly, another strategy implemented to augment such growth from the inside-out, are company sponsored certification renewals and waived exam fees, as well as in-house trainings.


MYTH: I want to apply my computer science training and cybersecurity skills set, but could never stand out in the pool of applicants for a big tech firm.


REALITY: And you don't need to!  According to the Microsoft Intel study, 60% of corporate respondents outsource their IT workloads.  In other words, skill sets that can attend to risk assessment and mitigation, as well as network monitoring and access management are highly valued and commonly hosted by third party IT vendors; potentially your future employer.


MYTH: Many IT and cyber security employers are notorious for dishonest job descriptions and opaque expectations for job duties; there is a general lack of transparency around the realities of working in the computer science field on behalf of employers


REALITY: While there often exists "a mismatch between job descriptions and actual duties", the revised National Institute of Standards and Technology's Cybersecurity Workforce Framework (NIST CSF) seeks, in part, to provide predictability in job realities, and transparency of expectations for the IT professional.  In other words, the integrity of your job and your expectations of any given company with IT needs, are protected. 


So the bottom line is keep is to keep positive outlook and never assume you are not right for an industry. Just apply to the jobs and let them decide.


To see a list of current jobs in the blockchain space CLICK HERE


Guest Contributor and Cryptocurrency advocate - Zachary Wall




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