06Jun

Congratulations, Class of 2021 graduates!  

Members of this year’s graduating class will be entering the job market with over a year of remote learning under their belts. And the market they’re entering looks a bit different from what the Class of 2020 observed last summer. 

For starters, the National Association of Colleges and Employers projects that companies will hire 7.2% more new graduates than last year. 

This is especially great news for candidates interested in healthcare and information technology – two of the top grad-friendly industries highlighted in LinkedIn News’ 2021 Grads’ Guide to Getting Hired

According to a recent Forbes article, remote entry-level roles are also on the rise. Top practice areas for remote entry-level jobs include professional supportfinancial services, and marketing technology

Remote jobs allow flexibility for recent grads who want to save up by working from home during their gap year(s).

Looking to get a head start on your job search this summer? Subscribe to Green Key’s job mailing list and browse current openings by experience level, industry, location, and more.

Visit https://www.greenkeyllc.com/jobs/ to learn more.

Photo by MD Duran on Unsplash 

Cryptocurrency’s Developer Gold Rush

The hottest new industry for software developers is one they last flocked to in 2017 — cryptocurrency.

Citing a report by the crypto VC firm Electric Capital, Bloomberg says the number of new tech professionals going to work for cryptocurrency startups and taking on decentralized finance (DeFi) projects has been increasing at the rate of 15% per month since January. That’s about 13,600 new developers joining the crypto sector through October, according to Electric’s numbers.

Bloomberg reports that 80% of all active developers began their work in just the last two years.

Overall, however, the number of software developers working in cryptocurrency has stayed flat. Electric says the incoming professionals have gone to work mostly for the top 200 ecosystems. Outside those 200, there’s been a 30% exodus since December 2018.

The total pool of active crypto developers is about 9,000 a month, according to the report.

Yahoo Finance explains that “The [Electric Capital] report tracks ecosystems by blockchain. In other words, a Bitcoin developer is counted toward Bitcoin even if the person is working on its Lightning Network or any of its wallets.”

That developers are joining the top ecosystems and leaving those at the bottom is, Bloomberg says, “one of the best barometers of a project’s promise and health.”

Maria Shen, a partner at Electric, told Bloomberg, “Developers are one of the signals of quality in a crypto ecosystem.”

The big winner, she says, is Ethereum. With more than 300 developers a month joining the organization, Shen told Yahoo, “Ethereum has continuously grown through Crypto Winter.”

Electric’s survey of publicly available code documentation on GitHub and GitLab and elsewhere shows Ethereum had about 2,300 developers working monthly in the third quarter of the year. It’s closest competitor, Bitcoin, had 400.

Meanwhile, the report says the average monthly number of developers working on DeFi projects grew 67% since January. (Wikipedia defines DeFi as “an experimental form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks, and instead utilizes smart contracts on blockchains.”

Ken Deeter, an Electric Capital partner, suggested to Coindesk that developer interest in DeFi could be partially attributed to developers from fintech frustrated by what they can’t do there.

“DeFi is a really interesting area … where there’s an ability for developers to really experiment in a way that in the traditional financial system is difficult to do.”

Photo by Nick Chong on Unsplash

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New Report Is Bullish on Alternatives’ Future

The future of alternatives is bright, with the financial sector growing at an annual rate of almost 10% between now and 2025.

Preqin, an alternative assets data and analytics firm, predicts that in five years the sector will have $17.16 trillion in assets under management (AUM), a 60% increase from today’s $10.74 trillion.

The two biggest drivers of that growth will be private equity at a 16% compound annual growth and private debt at 11%. By 2025, $9.11 trillion will be invested in private equity funds, accounting for over half the total in alternatives. Private debt will grow 72% to $1.46 trillion.

“Growth in the other asset classes will be more modest,” says Preqin in the first of its Future of Alternatives 2025 series, “but with our forecasts around 5% for each segment, it will still likely outpace increases in GDP.”

Preqin predicts hedge funds will continue to be the second largest class at $4.26 trillion, however growing at only about a 3.6% CAGR. Real estate, at a predicted 3.4% annual growth, will be the slowest.

The bullish report says Asia Pacific will see the fastest growth with assets increasing from $1.62 trillion to $4.97 trillion over the next five years. That will represent about 29% of the total AUM. By contrast, North America will grow modestly, reaching $8.6 trillion by 2025.

The first installment of its series offers a broad look at the future of alternatives with projections of AUM in each asset class, as well as projected growth for the industry as a whole globally, as well as regionally. Detailed insights and analysis are provided for each of the asset classes.

Future installments will focus on investors, opportunities for fund managers, global and regional developments. One installment entitled “How Megatrends Will Transform Alternatives,” will discuss diversity, big data regulation and the investment landscape post COVID.

Photo by Gilly on Unsplash

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