The economics of supply and demand shape today’s cybersecurity job market. Each year, US employers post more than 120,000 openings for information security analysts and roughly one-third go unfilled. Hiring managers are bracing for a continuation of this trend, with demand for cybersecurity professionals expected to grow steadily through 2018.
Unsurprisingly, cybersecurity salaries reflect this severe talent scarcity. The median annual wages for information security analysts is more than 10% greater than that for all computer occupations, and almost 150% higher than that of all US occupations, according to the Bureau of Labor Statistics. And as high-ranking roles including chief security officers begin reporting directly to CEOs and corporate boards, compensation is likely to jump further.
For those with the right skills and experience, it’s a job-seeker’s market. But universal demand and negligible supply don’t change the fact that cybersecurity is an evolving field. Strategies, threats, and the skills to combat them can and will pivot over the coming months, making it more difficult for candidates to qualify — and stay relevant — for these lucrative opportunities.