What is the future of the cybersecurity job market? This is a pressing question plaguing candidates, especially considering the mass layoffs taking place and different companies practicing different recruiting methods. Will the sector still be as relevant in the future? These are some of the pressing questions we will address in this article, and we will also explore some of the key trends that are likely to shape the future of information technology security recovery in 2023.
What Is Cybersecurity and Why Is It Important?
Before we get started, let us first understand what cybersecurity is. Cybersecurity means protecting data and systems from cyberattacks. Cyberattacks and data breaches are more common than ever, and organizations are becoming more concerned and prepared to develop robust cybersecurity measures to protect their assets.
You cannot imagine the modern internet without cybersecurity professionals who work day and night to safeguard systems and software. The number of hackers and their creativity in breaching data is increasing daily. Naturally, the demand for cybersecurity individuals is growing as well. There are multiple domains in information technology security, including cryptography, software development security, physical security, security engineering, and so on. All these domains need professionals to secure the systems that hold sensitive information properly.
Keeping all this in mind, cybersecurity becomes crucial for safeguarding private data, ensuring business continuity, and combating cybercrime. Without strong cybersecurity safeguards in place and a cybersecurity specialist to manage them, individuals and businesses risk severe financial and reputational harm.
Are Cybersecurity Professionals In Demand?
Many candidates think that the information technology security sector is becoming less relevant, and with that, the demand for such professionals is decreasing. Well, such candidates couldn't be more wrong because cybersecurity professionals are very much in demand.
That is because more and more organizations finally recognize how important it is to invest in quality cybersecurity measures that will protect their sensitive assets and information, primarily owing to many cyberattacks. As a result, there is a growing demand for professionals with the necessary knowledge and skills to manage and maintain cybersecurity measures.
Furthermore, the demand for cybersecurity professionals will grow even more as the years go by. It is estimated that the global information technology security market will reach more than $300 billion by 2026, and as a result, there will also be a booming demand for skilled cybersecurity individuals. Not only that, but a Bureau of Labor and Statistics report suggested that the number of Information Security Analysts is likely to grow by 35% in the coming years!
One of the biggest reasons for such a high demand for cybersecurity talent is that they are needed in various industries such as finance, healthcare, technology, and government. Every industry needs to protect its data, and who knows better how to implement such measures than skilled professionals? Some of the roles in the cybersecurity industry that are most sought-after are cybersecurity engineers, security architects, malware analysts, cloud security specialists, and so on.
Recruiting In The Cybersecurity Job Market
Hiring in the IT security job market can be challenging, given the high demand for cybersecurity professionals and the shortage of skilled candidates. Recruiting new candidates is a difficult task in any industry, but it is even more difficult in an industry like cybersecurity, where there are very few candidates. Let us look at some of the challenges recruiters face when searching for cybersecurity talent.
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High Demand and Short Supply
Even though there is a high demand for cybersecurity individuals, there is a need for more skilled candidates to fill open positions. In fact, as per Cybersecurity Ventures, the percentage of unfilled positions in the IT security industry grew by 350% from 2013 to 2021. While this is an alarming number, there is still a high shortage of such professionals, and it is likely to stay the same in the future, putting pressure on recruiters to find the right candidates.
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Rapidly Evolving Landscape
The cybersecurity industry is always changing, and new vulnerabilities and threats are constantly emerging. As a result, cybersecurity professionals must be updated with the latest technologies and trends that can address and mitigate new dangers. This also puts pressure on companies to stay up-to-date and make sure that they are hiring the right candidates with the necessary skills to address the evolving demands of this sector.
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Complex Job Requirements
It is wrong to think IT security professionals only need technical skills to master their job. The truth is that such professionals also must have communication skills to interact with other team members and understand what problems to address. It is challenging to find candidates with technical skills, certifications, and other necessary skills to do their job correctly. As a result, recruiters must try out new tests and assessments to determine the right candidate for the open position.
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Lack of Diversity and Gender Pay Gap
One of the cybersecurity industry's biggest problems is the lack of diversity, with a low number of people of color and women in such roles. This results in a limited pool of candidates, making it difficult for recruiters to find the right candidates.
On top of the disproportionate number of women in the cybersecurity industry, there exists the gender pay gap where women are paid much less than men for the same roles. A recent report by Infosecurity Magazine suggests that women are paid 21% less than men in the cybersecurity sector, which is a large number. Naturally, owing to the large difference in salaries, women are even more hesitant to come forward and take up such roles. Companies need to do better, offer equal opportunities, and increase diversity in the sector, which will address the problem of shortage of candidates.
What Does The Future Hold For The Cybersecurity Job Market?
The future of the cybersecurity job market looks promising, with a growing demand for skilled IT security professionals across industries. While it is difficult to predict what the future holds for the cybersecurity industry properly, the present scenario gives us hope. Let us look at some of the trends that are likely to shape the industry's future.
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Specialized Roles
As the IT security industry grows more and becomes more complex, companies are keen on finding professionals with specialized skills and knowledge in particular areas such as mobile security, data privacy, and cloud security. Thus, individuals must hone their skills properly to fit the increasing demand of large corporations.
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Emerging Technologies
Gone are the days when the landscape of cybersecurity was super simple. Just like new kinds of threats are emerging, new technologies are emerging to combat those threats. Blockchain, artificial intelligence, and machine learning are some of the leading technologies that play a role in the cybersecurity industry. Cybersecurity professionals are expected to master those technologies to stay relevant in the sector.
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Remote Work
Ever since the pandemic, the concept of work-from-home has become more commonplace. Keeping that in mind, more organizations are hiring remote workers worldwide. This also helps to expand the pool of candidates and find candidates who can meet the organization's demands. Furthermore, companies are also hiring contractual or temporary workers to meet the high demand.
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Importance of Diversity
As mentioned above, there needs to be more diversity in the cybersecurity field. However, companies are becoming more aware and attempting to address those gaps, especially due to the skills shortage. Organizations are more likely to adopt new policies and hire candidates from diverse backgrounds to make the field more robust and varied. The growing emphasis on diversity is slowly picking up, and it is expected that the IT security industry will have more women and people of color in the future.
Final Thoughts
The need for qualified cybersecurity specialists across sectors is expanding, which bodes well for the future of the cybersecurity employment market. But, there are challenges that we have explored in this article. Future developments in the cybersecurity employment market are anticipated to be influenced by new technology and the trend toward remote work.
Building diverse and competent teams, investing in training and development, and remaining updated with the newest technology and best practices must all be put first for organizations to prosper in this industry. Continuous educational and professional growth will be essential for IT security professionals to progress in their careers and remain competitive in the employment market.
Online Threat Alerts Security Tips
Pay the safest way
Credit cards are the safest way to pay for online purchases because you can dispute the charges if you never get the goods or services or if the offer was misrepresented. Federal law limits your liability to $50 if someone makes unauthorized charges to your account, and most credit card issuers will remove them completely if you report the problem promptly.
Guard your personal information
In any transaction you conduct, make sure to check with your state or local consumer protection agency and the Better Business Bureau (BBB) to see if the seller, charity, company, or organization is credible. Be especially wary if the entity is unfamiliar to you. Always call the number found on a website’s contact information to make sure the number legitimately belongs to the entity you are dealing with.
Be careful of the information you share
Never give out your codes, passwords or personal information, unless you are sure of who you're dealing with
Know who you’re dealing with
Crooks pretending to be from companies you do business with may call or send an email, claiming they need to verify your personal information. Don’t provide your credit card or bank account number unless you are actually paying for something and know who you are sending payment to. Your social security number should not be necessary unless you are applying for credit. Be especially suspicious if someone claiming to be from a company with whom you have an account asks for information that the business already has.
Check your accounts
Regularly check your account transactions and report any suspicious or unauthorised transactions.
Don’t believe promises of easy money
If someone claims that you can earn money with little or no work, get a loan or credit card even if you have bad credit, or make money on an investment with little or no risk, it’s probably a scam. Oftentimes, offers that seem too good to be true, actually are too good to be true.
Do not open email from people you don’t know
If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.
Think before you click
If an email or text message looks suspicious, don’t open any attachments or click on the links.
Verify urgent requests or unsolicited emails, messages or phone calls before you respond
If you receive a message or a phone call asking for immediate action and don't know the sender, it could be a phishing message.
Be careful with links and new website addresses
Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.
Secure your personal information
Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.
Stay informed on the latest cyber threats
Keep yourself up to date on current scams by visiting this website daily.
Use Strong Passwords
Strong passwords are critical to online security.
Keep your software up to date and maintain preventative software programs
Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.
Update the operating systems on your electronic devices
Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks. Read the CISA security tip on Understanding Patches and Software Updates for more information.
What if You Got Scammed?
Stop Contact With The Scammer
Hang up the phone. Do not reply to emails, messages, or letters that the scammer sends. Do not make any more payments to the scammer. Beware of additional scammers who may contact you claiming they can help you get your lost money back.
Secure Your Finances
- Report potentially compromised bank account, credit or debit card information to your financial institution(s) immediately. They may be able to cancel or reverse fraudulent transactions.
- Notify the three major credit bureaus. They can add a fraud alert to warn potential credit grantors that you may be a victim of identity theft. You may also want to consider placing a free security freeze on your credit report. Doing so prevents lenders and others from accessing your credit report entirely, which will prevent them from extending credit:
- Equifax
- Experian
- TransUnion
Check Your Computer
If your computer was accessed or otherwise affected by a scam, check to make sure that your anti-virus is up-to-date and running and that your system is free of malware and keylogging software. You may also need to seek the help of a computer repair company. Consider utilizing the Better Business Bureau’s website to find a reputable company.
Change Your Account Passwords
Update your bank, credit card, social media, and email account passwords to try to limit further unauthorized access. Make sure to choose strong passwords when changing account passwords.
Report The Scam
Reporting helps protect others. While agencies can’t always track down perpetrators of crimes against scammers, they can utilize the information gathered to record patterns of abuse which may lead to action being taken against a company or industry.
Report your issue to the following agencies based on the nature of the scam:
- Local Law Enforcement: Consumers are encouraged to report scams to their local police department or sheriff’s office, especially if you lost money or property or had your identity compromised.
- Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
- Identitytheft.gov: If someone is using your personal information, like your Social Security, credit card, or bank account number, to open new accounts, make purchases, or get a tax refund, report it at www.identitytheft.gov. This federal government site will also help you create your Identity Theft Report and a personal recovery plan based on your situation. Questions can be directed to 877-ID THEFT.
How To Recognize a Phishing Scam
Scammers use email or text messages to try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could get access to your email, bank, or other accounts. Or they could sell your information to other scammers. Scammers launch thousands of phishing attacks like these every day — and they’re often successful.
Scammers often update their tactics to keep up with the latest news or trends, but here are some common tactics used in phishing emails or text messages:
Phishing emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. You might get an unexpected email or text message that looks like it’s from a company you know or trust, like a bank or a credit card or utility company. Or maybe it’s from an online payment website or app. The message could be from a scammer, who might
- say they’ve noticed some suspicious activity or log-in attempts — they haven’t
- claim there’s a problem with your account or your payment information — there isn’t
- say you need to confirm some personal or financial information — you don’t
- include an invoice you don’t recognize — it’s fake
- want you to click on a link to make a payment — but the link has malware
- say you’re eligible to register for a government refund — it’s a scam
- offer a coupon for free stuff — it’s not real
About Online Threat Alerts (OTA)
Online Threat Alerts or OTA is an anti-cybercrime community that started in 2012. OTA alerts the public to cyber crimes and other web threats.
By alerting the public, we have prevented a lot of online users from getting scammed or becoming victims of cybercrimes.
With the ever-increasing number of people going online, it important to have a community like OTA that continuously alerts or protects those same people from cyber-criminals, scammers and hackers, who are every day finding new ways of carrying out their malicious activities.
Online users can help by reporting suspicious or malicious messages or websites to OTA. And, if they want to determine if a message or website is a threat or scam, they can use OTA's search engine to search for the website or parts of the message for information.
Help maintain Online Threat Alerts (OTA).