After another record-setting year for cybercrime, security professionals are in line for a well-deserved raise, according to recent research.
The “Robert Walters Salary Survey 2018” predicted that salaries for cybersecurity jobs around the world will rise by 7 percent in 2018. In addition, the recruitment firm estimated that all IT roles will see an average increase of 2 percent in salary.
Comparing Salaries From Around the World
The expected compensation varies by geographic location. For example, the survey showed that salaries for technology professionals in China could rise by 12 to 18 percent. Meanwhile, compensation is expected to increase marginally in New Zealand and stay the same in Australia.
In the U.S., Kurt Kraeger, managing director of Robert Walters’ New York branch, said he foresees a greater demand for big data and data science roles, especially mid- and senior-level professionals who can implement new systems that empower businesses to benefit from advanced insights. Kraeger also noted in the report that the growth of e-commerce and digitalization projects among established businesses will drive up demand for software engineers.
The situation is somewhat different on the West Coast. Simon Bromwell, managing director of the firm’s San Francisco office, highlighted machine learning and artificial intelligence (AI) as major growth areas in 2017. As a result, he expects businesses to prioritize product designers and data scientists in their 2018 recruitment efforts.
Bromwell also noted that while some technology professionals may have trouble securing pay raises, the ones with the most sought-after skills may be able to finagle a 5 to 10 percent increase in salary. Organizations looking to hire these professionals must move quickly, he said, because qualified candidates are likely to receive multiple offers at the same time.
Incentivizing Skilled Candidates to Pursue Cybersecurity Jobs
The results of the survey are reflective of the increasing public focus on cybersecurity and the ongoing cybersecurity skills shortage, which is expected to reach 1.8 million unfilled positions by 2022, according to ISC2’s “Global Information Security Workforce Study.”
As demand for skilled technology professionals increases and the talent gap continues to grow, organizations should highlight these increasingly lucrative salaries. It would also be beneficial to emphasize other perks, such as remote working opportunities and equity stakes, to incentivize qualified candidates to pursue cybersecurity careers.
Principal, PBC Enterprises