Incidents of stolen identities, hacked emails and uses of ransomware have become common headlines. As organized hacking groups and even intelligence departments of nation-states increase their capacity to damage and manipulate computer systems around the world, private businesses and governments have increased countermeasures though cyber security programs. As these cyber threats rise, a looming shortage raises questions about private and public infrastructure preparedness for cyberattacks.
A Shortage of Cyber Security Personnel
In 2021, the International Information System Security Certification Consortium, or (ISC)², released a comprehensive Cybersecurity Workforce Study. The study estimated roughly 4.19 million cyber security professionals worldwide. While this is an impressive number, the study estimated an additional 2.72 million cyber security professionals (globally) were needed to “effectively defend organizations’ critical assets.”
According to CyberSeek, the total employed cyber security workforce from October 2020 through September 2021 topped one million professionals in the U.S. alone. Yet there were still nearly 600,000 job openings for cyber security jobs in the U.S. during that time period.
Clearly, there is a vast shortage of cyber security professionals to fill important roles, both domestically and abroad. This equates to extremely high demand for well-educated, qualified cyber security personnel.
Careers in Cyber Security
The high demand for cyber security professionals equates to excellent job growth in the field. For instance, the U.S. Bureau of Labor Statistics predicts that job openings for information security analysts will grow by 33% between 2020 and 2030, which is over four times the average job growth rate of all occupations.
There is a wide variety of careers for cyber security professionals. For instance, cyber security managers develop, select and implement software, hardware, policies and procedures to keep company systems and information secure. CyberSeek reports that the average pay for cyber security managers was $101,802 per year in 2021.
With advanced education, experience and drive, the cyber security professional’s end goal may be to become a chief information security officer (CISO). These executives oversee the entirety of an organization’s information security plan, policy, systems and strategy. IANS Research’s 2021 CISO Compensation Benchmark Study shows that CISOs made an average of $463,000 of total compensation in the year the study was conducted. The study also found the highest-earning CISOs at Fortune 500 multinationals making well into the seven-figure mark in total annual compensation.
Additional careers in the field include cyber security researcher, cyber security specialist, cyber security architect, cyber security engineer, penetration and vulnerability tester and VP of cyber security strategy. Beyond holding a Master of Business Administration in cyber security management or a related field, many of these positions require certifications, including the Certified Information Security Manager or Certified Information Systems Security Professional.
STU’s Online MBA in Cyber Security Management
An MBA in Cyber Security Management from STU provides a comprehensive understanding of cyber security management while equipping students with the tools to protect an organization’s technology assets. The program incorporates current industry practices while giving a global perspective on cyber security. Students can complete the online program in as few as 12 months.
As the costs of data breaches increase year to year, companies will increasingly need qualified cyber security professionals with the skills to combat online security threats today and in the future.
Learn more about the STU online Master of Business Administration with a specialization in Cyber Security Management.
