Cybersecurity Ventures forecasts that by 2024, hacks and data breaches will cost the world over $9.5 trillion.¹ This huge number shows why we need skilled cybersecurity pros to keep our data safe. Luckily, jobs in this field are growing fast. They also come with good pay. Let’s look at how much money you can make in cyber security, based on your experience.

The Rising Demand for Cyber Security Professionals

As technology becomes more common, cyberattacks keep rising. Criminals use new tools, like artificial intelligence, to attack businesses. These attacks can disrupt supply chains and mess with how we communicate.

The recent shift to working remotely has made things worse. It exposed many weak spots that hackers are quick to use. It’s no wonder companies worry about cyber threats. In 2024, it’s estimated these threats could cost the world over $9.5 trillion.

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Shortage of Skilled Cybersecurity Workforce

There is a big gap in cybersecurity jobs. The U.S. Bureau of Labor Statistics predicts a 32% job growth from 2022 to 2032. This equals about 16,800 new job openings every year.

CyberSeek found over 572,000 openings in cybersecurity from September 2022 to August 2023. So, there are a lot of open positions due to a lack of skilled workers in this field.

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Projected Growth in Cybersecurity Jobs

The U.S. Bureau of Labor Statistics sees a great need for cyber experts. They project a 32% job growth from 2022 to 2032, with 16,800 new job openings yearly. The gap in the cybersecurity workforce is not getting smaller.

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how much does cyber security pay

Entry-Level Cybersecurity Salaries

At the beginning of their careers, info protection specialists take on entry-level cybersecurity roles. These jobs pay well, often more than the average salary across all jobs. For instance, a Cybersecurity Specialist makes $92,901 a year. A Cybercrime Analyst earns around $101,019 annually. An Incident and Intrusion Analyst makes roughly $97,725. And an IT Auditor brings home about $98,805 each year¹.

These positions ask for a bachelor’s degree at least. Yet, 19-24% of them don’t require that level of education¹.

Midlevel Cybersecurity Salaries

With three to five years of experience, cybersecurity pros can move to mid-level roles. These positions need more certifications and training. However, they offer better pay. A Cybersecurity Analyst earns an average of $107,346 yearly. A Cybersecurity Consultant makes roughly $118,610. And a Penetration and Vulnerability Tester brings in about $124,424¹.

Most mid-level jobs require a bachelor’s degree. Although, 13-22% of them can be obtained without this degree¹.

Advanced Cybersecurity Salaries

After 10 to 15 years in the field, cybersecurity experts often reach advanced positions. These roles involve managing teams and earn the highest salaries. For example, a Cybersecurity Manager makes $150,943 annually. A Cybersecurity Engineer earns about $131,768. And a Cybersecurity Architect makes $147,142¹.

These high-level positions usually require at least a bachelor’s degree. However, 6-16% of them can be accessed without such a degree¹.

Factors Affecting Cybersecurity Salaries

The money cybersecurity experts make depends on many things. This includes their education, how much they’ve worked, the field they’re in, and where they live. These factors are key to setting salaries in this always changing, highly wanted area.

Education and Certifications

Most cybersecurity roles ask for a bachelor’s from fields like cybersecurity, computer science, or related. Yet, sometimes an associate degree or job experience is enough. For fast learning, cybersecurity bootcamps are an option.¹ Besides degrees, getting certified in certain areas of cybersecurity can also boost your paygrade.¹

Experience and Specialization

How much you earn as a cybersecurity pro links to your schooling, know-how, certs, and where you work. Usually, jobs in major centers like DC or NYC pay more due to the high demand and cost of living there.¹ Having expertise in managing vendors, intelligence analysis, and other tech areas can also push up your salary.¹

Industry and Location

The facts: working in fields like finance or tech often means better pay. But, salaries can differ a lot by area, depending on the rules, tech situation, and data importance to a sector.¹ Plus, those industries really looking for cybersecurity folks pay more to get and keep them.³

Conclusion

Cybersecurity is becoming more important, and many are needed in this field. Entry-level jobs in cybersecurity pay above average. For example, SOC Analysts can earn between $58,000 to $72,000 a year.⁴ If you start as a Cyber Security Analyst, you won’t earn less than $83,000.⁴ As you become more skilled, your pay can go up a lot. Cyber Security Analysts, Incident and Intrusion Analysts, and Penetration Testers can make an average of $105k, $102k, and $313k, respectively.⁴

Things like education, certifications, and industry affect how much you earn in cybersecurity. Jobs in big cities and hubs for finance or tech pay more due to higher cost of living there.⁴ The field also allows for you to grow and earn more based on your experience. Chief Information Security Officers (CISOs) in the US, for example, can make over $300,000 yearly.⁴

There’s a big need for cybersecurity experts due to cyber attacks. With a 31% job growth expected in the US, this field shows promise. This growth is more than seven times larger than the nation’s job growth on average.⁵ Businesses are focusing more on protecting their data, and this boosts the need for cybersecurity workers. So, choosing cybersecurity can lead to a good earning and stable job future.

Source Links

1. https://www.forbes.com/advisor/education/it-and-tech/cybersecurity-salary-outlook/
2. https://www.simplilearn.com/tutorials/cyber-security-tutorial/cyber-security-jobs
3. https://plextrac.com/cybersecurity-salaries-by-state/
4. https://www.stationx.net/how-much-do-cyber-security-jobs-pay/
5. https://www.simplilearn.com/cyber-security-salary-in-the-us-article