In the last few years, more and more companies have gone online, and all their operations and processes with the help of computers. The risk has been that some leaders haven't prepared their organizations for increased cyberattacks and breaches, leading to revenue losses and diminished trust from clients, tarnishing their company's name forever.
In this blog, I look at the blog's cybersecurity job market, future forecasts, and the most in-demand skills.
At the Moment: A Snapshot of the Cybersecurity Job Market
Regarding furthering your education, not all degrees are equally valuable. A cybersecurity degree is one of the most worthwhile investments a person looking to break into the world of tech can make. There are about 3.5 million reasons that 3.5 million is an estimate of how many unfilled cybersecurity experts are needed based on the New York Times research.
On the upper end, some cybersecurity experts can make around $420,000 per year as a Chief Information Security Officer in places like San Francisco. The average annual salary falls at $240,000 based on stats from Forbes. It's easy to see that a master's degree in cybersecurity is a wise investment that will prove dividends for the future.
More Cyberattacks Calls for More Cybersecurity Experts
Recently, many companies worldwide have seen more and more cyberattacks. The cost of these breaches is $6 trillion in losses for companies in 2021, with a steady increase yearly. With these breaches, there's a real need for highly trained cybersecurity experts who understand the mind of a hacker.
One security company, Varonis, has stated that most companies are flying blind with little protection for their data, leaving them vulnerable to attacks. The truth is that cybercrimes are showing no signs of slowing down; businesses are all seen as potential victims regardless of their size or growth rates.
An example of this, in 2019, Capital One experienced a breach of more than 100 million either past, present, or potential clients who had their social security numbers, credit card applications, and other banking information stolen. The reputation of Capital One took a hard blow, and its name was left tarnished.
The former hacker was a disgruntled former Amazon Web Services Inc. employee who could access the company's firewall and retrieve that sensitive data. In 2021 there were record 301 breaches that exposed 5 million pieces of sensitive data. Those firms that have already suffered from these horrific attacks must handle the consequences of lost revenue and customer trust.
Highest Earning Cybersecurity Skills for 2022 and Beyond
These cyberattacks will grow to 164% and 115% in the next five years, with salaries increasing by $15,000 with each additional skill. The two highest-grossing skills are application development security and cloud security. These skills will allow businesses to stem from the ground up and proactively respond to attacks.
Cybersecurity jobs will grow by 31% until 2029 and beyond, seven times faster than the average growth for any other job at only 4%. Below is a list of the most sought-after skills any cybersecurity expert should consider focusing on when completing their degree:
Application Development Security (164%)
Cloud Security (115%)
Risk Management (60%)
Threat Intelligence (41%)
Incident Response (37%)
Compliance And Controls (36%)
Data Privacy and Security (36%)
Access Management (32%)
Security Strategy and Governance (20%)
Health Information Security (20%)
A leading labor market analytics firm, Burning Glass Technologies, has found that the top ten fastest-growing cybersecurity skills are lucrative for employers everywhere looking for where. The US Bureau of Labor Statistics Information Security Analyst's Outlook, cybersecurity jobs are among the fastest-growing career in the country.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.