Security Skills Command Premiums in Tight Market

Company executives proceed to dependable concerns that a recession is apt successful 2023, but cybersecurity professionals — on with IT workers and developers with cybersecurity cognition — look well-positioned to upwind an economical downturn, according to technology-job experts.

Overall, nonrecreational certifications person provided declining wage premiums since 2018, but accusation information certifications proceed to bid importantly above-average wage premiums, according to an investigation of much than 4,000 employers successful the US and Canada by Foote Partners LLC. Cybersecurity-related skills — specified arsenic AWS Certified Security, GIAC Certified Incident Handler, and Okta Certified Developer — marque up much than fractional of the "winner" skills, those that person attracted the astir wage and person gained the astir successful marketplace value.

Noncertified information skills — specified arsenic cryptography, DevSecOps, and hazard analytics — besides pull precocious premiums, says Bill Reynolds, probe manager astatine Foote Partners.

"Obviously, information skills and certs are inactive commanding currency premiums beyond wage astatine the 4,057 employers [we surveyed] successful the US and Canada," helium says. "That’s a beauteous ample illustration for a survey, truthful it’s rather meaningful."

Positioned to Withstand Recession?

The robustness of the cybersecurity occupation marketplace comes arsenic institution executives proceed to interest astir a recession successful 2023. The vast bulk of institution executives (83%) expect a recession in 2023 — arsenic bash 82% of investors, according to different online survey — and astir fractional of organizations are pre-emptively cutting expenses. In galore cases, that means layoffs. In the cybersecurity industry, astir a people of companies person chopped workers successful the past 3 months, according to tracking tract Layoffs.fyi.

The fears of a downturn have adjacent affected the valuations of startup companies successful the cybersecurity industry.

Because of the trouble successful hiring and retaining knowledgeable cybersecurity workers, however, layoffs volition apt travel from less-technical groups, leaving knowledgeable cybersecurity workers. In fact, the bulk of companies (60%) inactive planned to summation the caput number of their IT departments arsenic of July 2022, according to the IT Spending and Staffing Benchmarks 2022/2023  report published by Computer Economics.

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