The Crypto Job Market Looks Strong
Might be time to make a move
Over 25,000 tech layoffs have happened in 2023 already
Despite this downcycle in tech, the crypto sector is still hiring
An interview with a recruiter, promise for crypto and AI engineers
Business development, marketing and product also hot job roles in crypto
Emily Landon is The Crypto Recruiter. Since 2020, she’s placed over 200 people in cryptocurrency-related positions. She’s very connected with the companies and people making moves in the job market.
This interview is helpful for anyone looking for a job or thinking to make a move, super insightful on the crypto (or AI) job market.
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Daniel Cawrey: What is the state of the crypto job market right now?
Emily Landon: Great question. There are a lot of companies that are hiring. And there are more companies that are putting their hiring on hold. There are companies that are not advertising they are hiring because they are doing layoffs.
So a lot of job seeking (right now) is through networking. Making sure you know the right people. There was a study in the New York Times about those that have a larger network have a better opportunity of landing a new position than those with a smaller network. And that is very real in web3.
Web3 is a small world. Everybody knows everybody. Web3 is a super-small community. It’s also kind of exclusive. Appearance is reality when it comes to LinkedIn and your resume. So it’s really beneficial to make it look like you’re in web3. That means having a web3 banner on your LinkedIn profile. Crypto in your tagline. Keywords about crypto and NFTs in your summary. Because if you are connecting with someone, you’ve got 3-30 seconds to make an impression. Giving the appearance you’re already in web3 gives you a better chance to connect in the space.
Daniel: Let’s switch into crypto job roles. Obviously the number one role is engineer. What else are crypto companies looking for?
Emily: They are looking for everything. It really just depends on the stage of the company. A lot of times, when they first start, they are looking for less-tenured candidates. It’s more cost-effective, and they are letting people grow into roles.
So, they are really hiring entrepreneurial spirits. There’s a huge influx for financial people right now. Marketing is always super hot. Product has been really important recently. But business development is probably number two right now.
Daniel: I feel like there’s not enough security professionals in crypto. Just from the headlines (hacks and breaches, etc.). Do you see demand for security people or...? Are security people interested in crypto?
Emily: There are totally opportunities for security. And I think they are just going to multiply. I think there’s a huge opportunity there.
Daniel: You’re sort of in the middle of the job market. You’re almost like a job broker. But there are people looking at crypto and seeing layoffs. They are seeing a lot of layoffs. So why should people not be discouraged? Why should people be looking to crypto as a sector to find work in?
Emily: Great question. How do I answer this appropriately?
It’s a long-term game. Which everybody should be playing with their careers. It has been proven that big brands - Fidelity, Deloitte, Coca-Cola, Nike - are entering the blockchain space. So if someone is forward thinking, they are going to understand that getting this experience is going to be invaluable for the future of their career.
Going into crypto is a risk. Investing in crypto is a risk. But at the same time, really do your due diligence on a company. How are they funded? Who’s funding them? Who are the specific investors? What does the runway look like? Is the business model an actual business model that’s going to be generating revenue within however long the runway is?
Evaluating leadership. What are they like? You quit a boss, not a job. Leadership is in control of the direction of the company. So if you've got a bad leader, the company may not be successful, if that makes sense.
Daniel Cawrey: Tens of thousands of tech workers have lost their jobs at companies like Amazon, Salesforce, Twitter. What about the people who have not worked in crypto before. What are you saying to people like that?
Emily Landon: First off, one of the biggest reasons that companies are making layoffs is they over-hired during COVID. So everyone relied on Amazon during COVID and not big-box retailers. That’s why they had to hire so many people. Now that has slowed down, they are letting go.
It’s devastating to see all the layoffs. I think crypto is a great way to transition. Big names on a resume hold a lot of weight. It shows you are capable of scaling a company 10x working with a variety of different people. So I think there’s a lot of benefits coming from those companies.
Daniel: What are the scale of companies that you place? Are they startup companies? What is sort of the sweet spot where you place? It seems the high-end of the space, like Coinbase, is letting people go... Should people be looking at seed stage startups or is it bigger-sized companies?
Emily: It’s all across the board. It really gets down to those four things that we talked about. Funding. Leadership. Growth Opportunities. And if it’s a stable company, right?
If a company falls under one of those categories, we will absolutely support them. We’re supporting companies that haven’t even launched yet. Personally, I tend to stay away from some companies. I want to be responsible for helping someone find a job that they love. If I can’t guarantee that they are going to love this company, I’m not going to work with them. I would never ask someone to take a job that I wouldn’t accept myself.
Daniel: We’ve talked a lot about the term web3. Do you feel like that’s the hottest sector in crypto right now?
Emily: I think it’s a keyword. I think it is very much a keyword. You know, web3 is kind of like the trend, it’s kind of replaced the word crypto. It really encompasses all of the different directions of crypto, right?
So, NFTs. DeFi. Blockchain. Web3 is kind of the parent to all of those. We prefer to use the word crypto because obviously that’s our branding. “Crypto” for us means everything. But we’re actually thinking about expanding the brand into the “Web3” Recruiters.
Daniel: What else are you sort of seeing that is buzzy or hot from a job perspective?
Emily: A lot of AI. Like a ton of AI. It’s like everyone who was on the web3 bandwagon switched over to the AI bandwagon. We’re not seeing a ton of AI jobs yet, but this is gonna blow up. It’s gonna be uncontrollable. We’re really expecting a lot of AI opportunities to happen.
Daniel: Is there any adjacency with AI and crypto?
Emily: Absolutely. When we say “crypto”, we’re encompassing crypto, web3, blockchain. And absolutely I think there is (adjacency). Crypto companies need various positions. They don’t just need engineers. They need marketing. They need accounting. And I do think AI is going to help with these very specific positions.
Daniel: Let’s talk about networks. When you say networks. Let’s look at it from the perspective of someone who has a small network. How would they grow that or utilize the network they have to get a job?
Emily: There’s two things that you can do. On LinkedIn, you can literally in the search bar type in “crypto” and people who have that word in their profile will pop up. Sometimes you need a LinkedIn Premium subscription - which I totally recommend.
I would recommend the subscription. Because you’ll be able to see more profiles. And additionally, you’ll be able to send InMails. If you have a LinkedIn Premium subscription and someone else has a LinkedIn Premium subscription you can send a free InMail. Otherwise think of them (InMail) as $1 per email because you can absolutely buy more.
Personally, I think sending a very thoughtful InMail that’s short, sweet and to the point is your best chance of connecting with someone. But when you search for that keyword “crypto” in the search bar, you can literally just press the connect button down the list.
Additionally, just being active on LinkedIn. Commenting on people’s posts. If someone doesn’t connect with you, that’s totally fine. Make sure you are following them so you can still engage with their posts and get their attention that way.
Daniel: Outside of companies, there’s a lot of ecosystem stuff going on. Layer 0, Layer 1 and Layer 2 ecosystems. And then there’s DAOs. Are you seeing new types of ways for people to work? Like not just in crypto companies? What does that look like?
Emily: Absolutely. There’s a lot of internships, advising and partnership opportunities. People that don’t have crypto experience, it’s hard to enter the market, right? These companies are looking for people that understand the ecosystem. They don’t need hand-holding, blah blah blah.
For someone that does not have experience, it makes a lot of sense to go to websites like Messari. Look at recent funding rounds. Reach out to companies on Discord. Say, “hey - here’s my experience - do you guys need any pro bono help?”.
Sometimes, doing work for free and playing the long game open doors in the future. Not profitable now, but the experience is invaluable.
Emily is very active on LinkedIn. You can find her and content about jobs here.
Note: This interview was edited for clarity from its transcript.