The “Hobbyists” Offered $ 150,000 Finance Jobs Due to Talent Shortage


Yesterday an exciting new position in finance was launched. It’s not in a bank. It’s not in a fintech either. It is at Amazon, who began advertising a “flexible and aggressive intellect” to develop their digital currency and blockchain strategy. Only the most exceptional candidates should apply.

While Amazon can make all kinds of stipulations for its highly anticipated role, however, elsewhere in the crypto market people have to cope. Hiring is booming: Coinbase alone is hiring nearly 500 people A quarter; banks and hedge funds are fervently recruiting to make up for their delay at the party, with banks adding nearly 1,000 crypto-related jobs since 2018.

With everyone on the hunt for crypto talent, recruiters have to compromise. The Financial Time spoke to a London crypto recruiter who says that right now even “A talented and enthusiastic [cryptocurrency] the hobbyist will find a job.“Forget about MBAs and degrees from Imperial or MIT, Bitcoin traders are hired from their bedroom – assuming they actually want to leave.

Being employed in crypto might not have the same wild qualities as making a living trading crypto, but it is not badly paid. The FT says the going rate is £150k to £ 200,000 ($ 137,000 to $ 273,000) one year plus a bonus, which blockchain programmers can expect £ 200,000 to £ 250,000. Even contract staff earn up to £ 1.5k per day.

If you are already employed in crypto, it looks like you can make money through the proven route of changing jobs as well. Bloomberg reports that crypto people who change jobs can now get 50% salary increases and crypto jobs in banks pay 20% to 30% more than jobs working with other asset classes. “It’s a great asset, a great opportunity, and they need people and they need them fast. They are ready to pay dearly, ”observes a compensation consultant …

Meanwhile, ex-Barclays CEO Jes Staley seems to have seduced his former colleagues with his “easy charm” and a friendly attitude. Even if Barclays don’t change your strategy In the wake of Staley’s exit, the new CEO looks like a change.

CS Venkatakrishnan, the former chief risk officer replacing Staley “has a very different style,” according to a Barclays insider. Unlike his predecessor, Venkat “doesn’t pretend to be everyone’s best friend.” Venkat is also describe as decisive (“he will make the call and not procrastinate “) and not the medium risk agent (” He just sees all angles, he does not have the tunnel vision sometimes common to risk agents. “)

As Venkat discharges his new role with quiet skill, being seduced by Staley’s charm comes across as a career-limiting event. The FT reports that Paul Compton, the former COO and head of Barclays’ investment banking division was Staley’s preferred candidate for replacement, but that being liked by Staley was no longer a positive sign. “Staley’s character judgment was called into question in the Epstein case and Venkatakrishnan’s actions have resurrected.”

During this time…

Daniel Pinto, one of London’s highest paid bankers, is moving to New York to take on the role of sole president and chief operating officer at JPMorgan, and unofficially anointed successor to Jamie Dimon. (Bloomberg)

Jes Staley is “shocked, angry and upset” at the end of the regulatory investigation into his relationship with Epstein. (BBC)

Staley sent a memo to his colleagues saying “the difficult personal decision to quit “was because” I don’t want my personal response to these questions to be a distraction from the fantastic work you do. ” (Financial Times)

Jes Staley told colleagues that Epstein helped his daughter mentor her daughter during her college applications and that showed he had no idea how serious the accusations surrounding Epstein were. (Financial Times)

Barclays traders explain why the new CEO won’t shut them down: “My business is money.” (Financial news)

Investor activist Edward Bramson had suggested that sufficient due diligence had not been done around Staley’s appointment, given his public association with Epstein. This now seems a fair point. (Financial Times)

Jefferies asks his bankers and merchants to make lists of all the customers they have underserved over the past year, who could benefit from having someone else to handle them: “There will be no finger pointing or blaming. If everyone is honest and transparent, and we tackle this project as a team, we think the result will be another huge boost for all of us, personally and professionally. ” (Jeffry)

After spending years privately ridiculing Bitcoin, Thomas Montag, the former COO of Bank of America, asked a friend of his for a cryptocurrency tutorial and spent hours listening to lectures, read books and meet with executives of cryptocurrency companies. (New York Times)

The new head of UK investment bank Deutsche Bank said he wanted to be the old fashioned way and the bank had become too “product and detail oriented”. – “Gone are the days of building customer loyalty and not being driven by transactional income, but as far as possible, we want to recreate that old-fashioned banking mentality. ” (Financial news)

Goldman Sachs has structured a two-year bond that pays interest and gives investors exposure to SPACs without owning them. (Reuters)

photo by Boukaih to Unsplash

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