Welcome to CryptoTalentStack, the #1 community for crypto career-building. If you like this content, subscribe for weekly updates such as how-to guides, talks with industry leaders, hiring tips, AMAs, networking happy hours, and more!
During bull markets, working in crypto can make you seem invincible. But when prices decline and companies tighten their belts, employees often become collateral damage. While certain company types and business models may have more upside, others may be less vulnerable to market volatility.
CryptoTalentStack’s #1 goal is to help you jumpstart your crypto career. Below is a thoughtfully curated guide so you can find a crypto job that survives bear markets:
Two of the most important factors that determine job security are company type and job type:
Company Type
While there are a seemingly endless amount of companies in the Web3 space, they can be generally boiled down into one of three categories: Infrastructure, Consumer Applications, and Services. Understanding where a company is on the spectrum of infrastructure to application can give you an idea of 1) its risk profile, and 2) your job security.
Consumer Applications
These companies get their revenue from regular end-consumers, like you and me. This could be games, tools, social platforms, or— in Web3, exchanges and banks. Competition is often fierce and the switching cost for consumers is often low (we can always play a different game). This, combined with the fact that demand for specific applications often ebb and flow with overall market sentiment, means that applications are the most volatile—they have the highest highs and lowest lows (e.g. Celsius, FTX, NBA Top Shot, etc.)
Volatility: High
Infrastructure
Typically selling software, physical hardware, or security in the form of block space that other companies use for their products (e.g. Infura, alchemix, Layer 1s). Infrastructure companies are typically pretty steady and severe shocks are tempered. Even in a bear market, companies still need to operate their core infrastructure.
Volatility: Low
Services
Services companies include consulting, media, auditors, etc. Volatility sits somewhere in between Applications and Infrastructure. Since service providers have large customer bases, they’re not (usually) dependent on any single customer to pay their bills. However, if you work for a non-essential product, then your clients’ discretionary spending might be the first thing they cut in times of financial contraction.
Volatility: Medium
Job type
Cybersecurity
Any Web3 business’s #1 priority. If your product, data, or—most importantly, customers’ funds—aren’t safe, you might as well shut it down before you get Rekt. Every application, infrastructure, and even service company is incentivized to employ a team of competent, experienced, and well-compensated cybersecurity specialists. Why? Hacks, exploits, bugs, and phishing attacks occur regardless of market conditions. If you’re running even a semi-credible business with anything of value, cybersecurity is probably the last place you want to skimp.
Jobs to consider:
- Information Security Analyst
- Network Security Engineer
- Security Consultant
- Cybersecurity Analyst
- Penetration Tester/Ethical Hacker
- Incident Response Analyst
- Security Architect
- Chief Information Security Officer (CISO)
- Security Software Developer
- Security Auditor
Financial/Accounting
[Read the full article here.]
