Big Tech vs Web3: Which Industry are Techies Choosing in 2023?

Though web3 is comparatively new, aspirants are still choosing Web3 Jobs over Big Tech

Hundreds of recent graduates have been negatively affected by Big tech's slow hiring practices, leaving them high and dry in a job market with few openings. Earlier, Techgig reported that despite receiving selection letters, new hires at large Indian Big tech companies like Infosys, Capgemini, and Tech Mahindra had to wait months before receiving their actual offer letters. An applicant will first receive a selection letter after an interview, followed by an offer letter and an onboarding date from the IT firm. While many of these layoffs are likely due to an economic downturn, this has resulted in an overwhelming amount of talent flocking to early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded a number of startups, told Cointelegraph that he recently launched Nillion, a startup specializing in decentralized computation, to help ensure privacy and confidentiality for Web3 companies. Web3 serves decentralization as the answer to many traditional setbacks in the use of the internet. Though web3 is comparatively new, aspirants are still choosing Web3 Jobs over Big Tech. New work opportunities are the biggest reason why Tech talent migrated to Web3.

Recent market analysis indicates that the Big tech in India has seen a slowdown in hiring of 18% from the previous month and 16% from the previous year. Bengaluru, Hyderabad, and Pune all saw a drop in recruiting activity as the IT industry contracted.

As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix, and Apple are undergoing massive job cuts.

Popular Jobs in Web3 companies

Some of the jobs offered by Web3 companies that are likely to attract a lot of traction and be in huge demand are:

1.Blockchain Core Developer – The blockchain Core Developer creates Blockchain architecture, defines its protocol and consensus mechanism, and determines and implements high-level Blockchain network choices.

2.Blockchain software developer – Similar to how a conventional web developer builds web apps utilizing the protocols and design structure established by a core web architect, Blockchain Software Developers build decentralized applications or Dapps using protocols established by Blockchain Core Developers. This is accomplished by creating smart contracts and deploying them on the Blockchain.

3.UI & UX designer – Responsible for communication with developers to put your product live out there in the market. Design the product and make it user friendly

4.Solidity developer – Responsible for creating smart contracts on the specific computer language 'Solidity'.

5.Front-end Developer – responsible for creating visually appealing and functional user interfaces as well as producing well-tested and dependable code. You also have to collaborate closely with UX/UI designers to provide the greatest end-user experience possible.

6.Back-end Developer – Responsible for successful extraction and delivery of data to service providers and establishing direct communication with Blockchain.

7.DevOps – Responsible for ensuring the timely delivery of high-quality products and upgrades to end consumers. You will assist developers in coding while ensuring that the correct code is placed in the correct location. You will also be responsible for infrastructure maintenance, monitoring, process automation, CI/CD, and deploying software from Github to servers.

Now, you see why in Big Tech vs Web3, people are choosing Web3. Some commentators argue that Web3 will provide increased data security, scalability, and privacy for users and combat the influence of large technology companies. Others have raised concerns about the decentralized web component of Web3, citing the potential for low moderation and the proliferation of harmful content.