As the cybersecurity skills shortage intensifies, cyber professionals have become the target of stiff competition among recruiters and employers. Compensation and benefits packages are becoming increasingly generous, essentially giving jobseekers the chance to write their own ticket.
Compensation packages have exceeded $6 million at some large technology companies, according to a recent Bloomberg article. Such packages typically involve mostly stock but even so, they prove that it definitely pays to be in the cybersecurity field. Even the direct charges of top security officers are commanding salaries in the $1 million range, according to Bloomberg.
The reasons for these bloated pay packages should come as no surprise to anyone in the cybersecurity field. As cyber attacks and extortion schemes continue to intensify, the cybersecurity skills gap has widened, and organizations are scrambling to fill vacancies and beef up cyber teams.
“In the 12 months ended August 2018, there were more than 300,000 unfilled cybersecurity jobs in the U.S.,” Bloomberg reported. The number is based on research by CyberSeek, a project supported by the National Initiative for Cybersecurity Education. Similarly, (ISC)²’s own Cybersecurity Workforce Study 2018 put the U.S. cyber skills shortage estimate at about 500,000, and globally at just under 3 million. This gives cyber pros a substantial advantage when it comes to negotiating pay packages.
CEOs have come to view cyber threats as a major risk to doing business, so they are getting involved in pay negotiat ..
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