Bitcoin vs. Gold - Which Field Is Better To Have a Job In?
Bitcoin and gold made market chatter today with news of rallying at the end of the earnings season. Bitcoin rose over $41,000 and gold topped $2,050.
As these two assets continue to make waves on Wall Street, a compelling question arises: Which field, Bitcoin (crypto) or gold, offers more promising career prospects?
To delve into this comparison, let's examine the pros and cons of working in each industry, analyze salary and benefits packages, and explore the current market trends.
(BTC vs. Gold - Source: Trading View)
Pros of Working in the Bitcoin Industry:
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High Salaries: Crypto companies are often willing to pay top dollar for talented individuals, recognizing the scarcity of expertise.
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Opportunity to Be Part of a Transformational Technology: Crypto (or zooming out to be more macro) holds the potential to revolutionize the financial system, and working in this industry provides the chance to be at the forefront of innovation.
If you're curious about the types of jobs you can get in the web3 industry, checkout this video:
Cons of Working in the Bitcoin/Web3 Industry:
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High Risk: The industry is still relatively new and unregulated, making it susceptible to market fluctuations and potential risks.
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Lack of Job Security: The volatility of the market can lead to fluctuations in employment opportunities. For instance, dozens of layoffs have happened during the bear market which has caused companies to shut down or restructure.
Pros of Working in the Gold Industry:
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Stable and Well-Regulated Industry: The gold industry benefits from established regulations and a stable market environment.
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Good Job Security: The gold industry's stability translates into relatively secure employment opportunities.
Cons of Working in the Gold Industry:
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Lower Salaries: Salaries in the gold industry tend to be lower compared to those in web3.
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Less Exciting Work Environment: The gold industry's traditional nature may not appeal to those seeking a dynamic and fast-paced work environment.
Salary Comparison: Bitcoin vs. Gold
According to Glassdoor, the average annual salary for a web3 software engineer is $125,000, while the average salary for a gold analyst is $85,000. In fact, in crypto bull runs, you'll often see headlines like this:
Benefits Comparison: Bitcoin vs. Gold
Both web3 and gold companies typically offer similar benefits packages to their employees, including health insurance, dental insurance, vision insurance, and paid time off.
However, in web3, you'll generally see benefits around:
- β Health, dental, vision, and pet insurance
- β Token sharing
- β Commuter allowance
- β Gym & wellness memberships
- β Access to whitelist
- β Charity/web3 grant contributions to a project of your choice
- β 4 day work weeks π
- β Web3 learning & development stipend
- β Option to get paid in crypto
- β 401(k) (this was common with the big web3 companies) & matching employer contributions
- β PTO
- β Paid parental leave
- β Employee referral program (web3 talent can be hard to attract!)
- β Remote work
- β Company retreats
- β Unlimited bereavement (two weeks pay, unlimited unpaid after that)
- β Tax help for employees getting paid in crypto for the first time
- β Free NFTs
Here's a list of other traditional benefit packages that you'll see in web3.
The decision of whether to pursue a career in the Bitcoin industry or the gold industry is a personal one, influenced by individual preferences, risk tolerance, and career aspirations. Both industries offer unique opportunities and challenges, and the best choice depends on aligning one's skills, interests, and long-term goals with the characteristics of each sector.
Happy job hunting, friends.
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