Why Global Hacking is Creating a Booming Recruitment Market
Over the past few years, large-scale data breaches have become more and more prevalent. The recent Ashley Madison hack, in which 32 million records were stolen, is the latest in a long line of high-profile data thefts.
Type ‘Ashley Madison hack’ into Google and it returns over 30 million related articles. Type ‘Adobe hack’, which was the largest hack on record with 152 million records stolen, and you get 2.8 million articles, of which most are related to Ashley Maddison. This will be the 2,800,001st article.
Given that the first high-profile hack took place in 2005 (AOL), the IT job market has been very slow to react, or in AOLs case, to sense the growing needs of a new digital era where consumers regularly share information with more and more websites and devices.
In 2014, Cisco warned in its Annual Security Report that the worldwide shortage of information security professionals is at one million openings. This is just one of a long list of industry bodies, think-tanks, departments and bureaus who are citing similar things:
- According to analysis of numbers from the Bureau of Labor Statistics by Peninsula Press, more than 209,000 cybersecurity jobs in the US are unfilled, and postings are up 74% over the past five years.
- The Computing Technology Industry Association, CompTIA, reported that job postings for information security analysts in the US more than doubled – 13,577 to 28,642 – between the second quarter of 2014 and the second quarter of 2015.
With demand for information security professionals expected to grow by 53 percent by 2018, savvy recruiters are in prime position to leverage the skills shortage and place cyber security professionals, if they can be found, that is.
According to a recent report from the job board Dice, the top paying cybersecurity job is a security software engineer with an average annual salary of $233k, topping the salary for a chief security officer (CSO) which is $220k. Additional figures from Dice highlight that the top five IT security salaries range from $233k to $178k.
The demand for the (cybersecurity) workforce is expected to rise to 6 million (globally) by 2019, with a projected shortfall of 1.5 million,” stated Michael Brown, CEO at Symantec, the world’s largest security software vendor.
Furthermore, the growing demand is why cybersecurity is considered one of the best jobs in the US for the next seven years. According to the US News and World Report, security analysis is eighth on its list of the 100 best jobs for 2015.
Will demand ease?
Not anytime soon. The worldwide cybersecurity market is expected to reach a market value of $170bn in 2020 according to research from MarketsandMarkets. Additionally, as hackers are usually altruistic – the Adult Friend Finder hack was one of the few cases where a ransom was demanded – cyber threats will never be far away.
See more about the US job market in our latest QuickView – American Dream
In this edition:
- Job market overview
- Spread of jobs by city and state
- Best and worst states for business
- Business etiquette and sought after employment benefits
- How to set up a recruitment business in the US checklist
Image: Sebastiaan ter Burg