Cryptocurrency exchange Bitget recently revealed in a report that professionals from traditional finance are increasingly exploring career opportunities in the crypto industry, primarily attracted by competitive salaries, industry prestige, growth potential, and workplace flexibility.
Key Findings from Bitget's Talent Migration Report
One-Third of Crypto Applicants Have Traditional Finance Backgrounds
According to Bitget's data:
- 33% of exchange job applicants previously worked in banking
- Application volume grew from 880 in 2021 to 1,440 in 2023 (113% growth in 2022, 143% in 2023)
The most sought-after mid-to-senior roles include:
- Investment relations
- Business development & sales
- KYC/compliance positions (23% of applicants)
- Data analysis
- Product design
- Project management
- Backend engineering
👉 Discover how crypto careers outperform traditional finance
Why Finance Professionals Are Switching to Crypto
Bitget identifies four primary attraction factors:
Salary Advantages
- London crypto startups offer $125,000 base salary + bonuses** for junior engineers vs. banks' **$87,810
- Average crypto salary: $115,667** vs. banking's **$54,000
- Remote Work Opportunities
36% of blockchain roles offered remote work in 2022—double the global average. - Industry Innovation
The decentralized finance sector provides cutting-edge technological exposure absent in traditional banking. - Career Growth Potential
Rapid industry expansion creates accelerated advancement opportunities.
Industry Outlook
Gracy Chen, Bitget's Managing Director, observes:
"This talent migration signals a fundamental shift. As decentralization reshapes finance, we'll likely see increased M&A activity between sectors, impacting workforce dynamics."
FAQ: Career Transition to Crypto
Q: Is crypto experience necessary to switch from banking?
A: Not always. Transferable skills in compliance, finance, or tech are highly valued, with many firms offering training.
Q: How stable are crypto jobs compared to banking?
A: While volatility exists, core infrastructure roles (compliance, engineering) show consistent demand despite market cycles.
Q: What's the best entry point for finance professionals?
A: Compliance/KYC roles leverage existing expertise, while DeFi product management bridges financial and technical knowledge.
👉 Explore crypto career pathways today
Comparative Salary Analysis (Major Markets)
| Position | Crypto Industry | Traditional Banking | Difference |
|---|---|---|---|
| Junior Engineer | $125,000 | $87,810 | +42.4% |
| Compliance Manager | $110,000 | $75,000 | +46.7% |
| Data Analyst | $95,000 | $68,500 | +38.7% |
Values reflect annual base salaries in USD
This emerging talent trend underscores crypto's growing appeal as professionals prioritize compensation, innovation, and work-life balance—factors increasingly difficult for traditional institutions to match.