13 Reasons Why Cybersecurity Professionals Will Earn More!

Whether it is a highly sophisticated malware attack, a data breach or a ransomware attack, it’s no surprise that IT security-related issues continue to dominate the industry news landscape. The increasing dependence on data being generated from various data sources means that professionals and business organizations are also exposing themselves to varying types of cyberattacks.

An April 2019 report on cybercrime released by McAfee reveals that cybercrimes are costing the global business an estimated $445 to $608 billion each year. This is a major reason why business enterprises from different functional domains are investing more in purchasing cybersecurity products and hiring specialized security professionals. While the global market for information security is expected to grow 7% each year, business spending on cybersecurity-related products or services is projected to grow between 12-15% each year up till the year 2021.

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With the growing awareness among businesses of the role that cybersecurity plays in protecting their valuable business assets from hacks and breaches, the demand for cybersecurity professionals across the globe is also on the rise. 

Let’s now evaluate what skills must a cybersecurity expert have along with 13 reasons for considering a career in cybersecurity.

Skills of a Cybersecurity Professional

As a Cybersecurity expert, you are expected to be proficient with the following:

1.  Knowledge of the types of online threats and security vulnerabilities

2.  Managing user privileges and access rights

3.  Knowledge of various network architecture and design

4.  Cryptography skills

What type of cybersecurity-related skills must you possess? That would depend on your job role and your designation based on experience level. The table below shows the typical job functions of a cybersecurity role and the average pay that they can expect:

 

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Why Cybersecurity is the Best Career Option?

In addition to an annual median salary of around $92,600 that you can earn as a cybersecurity professional, cybersecurity offers 13 reasons why you should choose it as a long-term career option.

Let’s take a look at each of them:

1.  0% Unemployment

According to CyberSeek, the supply-to-demand ratio of cybersecurity workers in the U.S. workforce is very low at just 2.3, meaning just 2.3 qualified candidates exist for every cybersecurity job. In another report, Cybersecurity Ventures estimate that around 3.5 million unfilled jobs will be posted for cybersecurity specialists by the year 2021.

All these industry statistics effectively indicate that cybersecurity professionals will not be facing any shortage of good jobs, effectively meaning 0% unemployment.

2.  Plenty of Job Opportunities

Cybersecurity experts are currently in demand across industry sectors including IT, banking and telecom, defense and military services, and even schools. The U.S. Bureau of Labor Statistics estimates that there will be 28% growth in the number of cybersecurity job positions from 2016 to 2026.

Growing industry demand for qualified and skilled cybersecurity professionals in the coming years will ensure that there are plenty of related job opportunities across multiple industries.

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3.  High Job Security

A career in cybersecurity is no longer just a passing trend but offers long-term career prospects and job security. With hackers continuing to innovate and create new forms of online attacks, companies will need cybersecurity professionals to block such attacks and keep their network and business data safe. 

Additionally, the gradual adoption of innovative technologies like cloud computing, Internet of Things (IoT), and Big data will bring numerous benefits to business enterprises, but also increase their vulnerability factor. This will create further demand for security professionals skilled in these technologies.

4.  Higher Pay

Depending on the experience and location, cybersecurity engineers can earn an annual salary ranging from around $78,000 to over $210,000. As of June 2019, the average salary of a cybersecurity engineer in the U.S. is $94,915. This median salary is higher than the average figure of $84,580 for other IT-related positions and is over twice the U.S. national median salary of $37,690.

Due to the shortage and high industry demand, hiring companies employ cybersecurity experts at a higher pay compared to other IT professions.

5.  Certification Courses in Cybersecurity

As a student or professional aspiring for a lucrative career in cybersecurity, you can improve your career prospects by attending and completing industry-recognized certification courses like Certified Information Systems Security Professional (CISSP) or the CompTIA Security course.

Hiring companies are willing to pay more for the advanced skills of certified cybersecurity professionals. For example, professionals certified in the CISSP course earn an average annual salary of $120,583, which is more than the average package offered to non-certified candidates. Additionally, certified professionals are more valued in work circles due to their acquired knowledge and their overall commitment to this area of specialization. 

As the field of cybersecurity is constantly evolving with new threats and security-related skills, you can continuously improve your skills and career opportunities with the right certification program.

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6.  Exciting Career Progress

Cybersecurity is an exciting career choice for experienced candidates from different IT backgrounds like software developers, web developers, and systems administrator. As a cybersecurity expert, you can aspire to progress to higher career level including a cybersecurity architect, cybersecurity manager, penetration tester or ethical hacker, security auditor, or that of a chief information security officer (or CISO).

The industry demand for cybersecurity professionals in senior roles is also increasing with regulatory bodies like the New York State Department of Financial Services mandating financial companies to appoint a CISO to implement a complete cybersecurity program.

7.  Job Satisfaction

Along with the opportunity of learning new skills, cybersecurity professionals can work on a variety of security solutions specifically catering to organizational needs.

As a cybersecurity professional, you are doing your bit in making the world a more “safer” place. Irrespective of your actual job role, you are committed to protecting companies and other individuals from cyberattacks that can damage their data integrity and overall business value. As the “online cop” protecting your company’s resources, you can experience a form of “job satisfaction” that goes beyond just earning a good salary.

8.  Not just restricted to technical skills

You don’t need to be proficient in the latest technical skills to be a cybersecurity professional. Non-technical cybersecurity personnel can look at alternative career paths in security threat intelligence, legal compliance practices, or security analysis.

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9.  Opportunity to work in various industries

Along with the growing number of cybersecurity jobs, multiple industry domains are looking to hire cybersecurity specialists to protect their computer systems from hackers. By adapting your technical or non-technical skills to the particular industry domain, you can look at job and career growth in the domain of your choice.

10.  Global opportunities

Cyberattacks are impacting business enterprises operating out of various countries. This presents cybersecurity experts to travel the world and work with various global clients. Depending on the skillset that you possess, you can explore global opportunities with companies looking for a highly specialized security-related skill.

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11.  Remote working opportunities

Along with global opportunities, cybersecurity jobs can also be performed from remote locations (provided you have a good Internet connection). This means you don’t work from a fixed office location but can operate as a “digital nomad” from any part of the world.

12.  Very dynamic in nature

Just like the dynamic evolution of technology over the past decade, cyberattacks are also very dynamic with the variety of attacks such as ransomware, DDoS attacks, and malvertising. As a cybersecurity expert, you need to come up with dynamic and innovative cybersecurity solutions that can challenge such attacks.

13.  Continuous learning opportunities

Finally, in addition to career growth, specializing in cybersecurity offers unlimited learning opportunities throughout your career. Even as IT security remains your “prime forte,” you can learn about other IT-related functions by interacting with other functional experts on a daily basis.

Additionally, as a security professional, you can get the opportunity to work on advanced technologies and devices such as IoT equipment or robotics that would not have been possible in any other discipline.

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Conclusion

Global organizations are finally waking up to the massive challenge and danger posed by cyberattacks and are investing more in cybersecurity solutions. The increasing industry demand for cybersecurity professionals around the globe makes this the right career choice for aspiring professionals.

Is cybersecurity a viable career opportunity for both students and IT professionals, or just a passing fad? To dive more into this, check out Manipal’s advanced courses in cybersecurity!