According to the Ripple LinkedIn profile, the company is looking to hire a small army of engineers, technical developers and experts. This will include a new head of engineering for xCurrent, the biggest competitor for the center of the global payments infrastructure – SWIFT. The company will depend on its large holdings of XRP and offer them as bonuses and salaries to every talented person they hire.
Some engineers revealed the recruiting emails that Ripple sent in the end of 2018. The Engineers were offered a generous salary and bonuses ranging between $2-$3 million worth of XRP tokens. Salaries allegedly varied according to seniority rank, but the bonuses could reach $6 million in XRP. Ripple is trading for $0.30 per XRP so quick calculations show us that $6 million are 20 million XRP tokens.
The tactic is great for Ripple, because engineers receive ownership stake with the XPR bonuses. At the moment Ripple is employing nearly 100 technology experts and engineers, but the company doesn’t want to stop here. They want to hire the best talent out there so they can expand their software as quickly as possible. Ripple added more than 100 new employees in 2018 and they will continue to do so in 2019.
Company representatives stated:
“We move fast to acquire the best talent out there, especially considering the highly competitive nature of other startups who want to hire the same specialists and experts.”
Ripple is on a hiring spree in the Crypto Bear market
I’m not surprised that Ripple has to go above and beyond in this bear market. Engineers are mostly avoiding Crypto companies from fear and Ripple is forced to offer attractive bonuses. Especially because Ripple is a Silicon Valley startup. For years now, salaries, bonuses and compensations in Silicon Valley have been increasing dramatically. The battle for talent is fierce and companies are forced to pay premium to recruit the best developers.
A notable name in the Crypto sphere, Jon Holmquist spoke recently on the topic. He stated:
“No one wants to join Crypto companies for the first time during a bear market. I think that’s more of an industry-wide problem. There’s always a shortage of talent.”
But an anonymous developer from the community disagreed, because he was flooded with recruiting emails. He thinks that this smells of desperation and stated:
“This is for a developer’s role, which is generally harder to find, but these are really big numbers. It comes across a little bit desperate, but what can you do.”
Another developer and entrepreneur, Dave Schukin sent a tweet in June of 2018, saying that Ripple offered him more than $175,000 as a base salary.
my offered range was $175k – $195k. How'd you do?
— Dave Schukin 🤘 (@schukin) June 13, 2018
Ripple is still looking for software experts with C++ and Java. The company stated:
“We are not necessarily looking for blockchain experts. We can always teach domain-specific expertise. We also think it’s important that our engineers carry themselves with humility and are able to think creatively about how to solve hard problems.”
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