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Crypto investment bank paying ~$485k wants 500 employees by September

If you want to make money in crypto, there are a few places where earning $400k or more is the norm. They include Coinbase. They also include crypto investment bank Galaxy Digital, which has turned a $1bn loss in 2022, into $296m net income in 2023. Galaxy pays its staff very well... and its hiring.

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Galaxy had 434 employees at the end of the 2023, and it paid $210.6m in total compensation (TC). This would give staff an average TC of $485k. 

CEO Mike Novogratz said in yesterday's earnings call that Galaxy is hiring. With around 450 employees currently, he said, "it would not surprise me if that number was over 500 in six months." Novogratz said bull markets "are great opportunities" for hiring, "but they're also really difficult, because the game's changing quick."

Galaxy currently has 29 open job listings, around half of which are in its New York headquarters. The London office, which Novogratz called "vibrant", has five openings, including for infrastructure engineers and quant traders. Novogratz is also looking to grow Galaxy's "decent presence" in Hong Kong with six roles.

Despite its generosity, not everyone stays at Galaxy. The firm had some talent attrition issues last year relating to big hires from the likes of Goldman Sachs. 

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AUTHORAlex McMurray Editor

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