Global cybersecurity skills shortage and high demand could lead to high turnover and hyper wage inflation next year As part of its annual IT spending intentions research, ESG asks IT professionals around the world to identify areas where they have a problematic shortage of IT skills. Over the past three years, information security skills topped this list. In 2014, 25% of all organizations said they had a problematic shortage of infosec skills (note: I am an ESG employee).So where are information security skills shortages most acute? When we asked security professionals this question a few years ago, the results show shortages across the board:43% of organizations have a problematic shortage of cloud computing and server virtualization security skills31% of organizations have a problematic shortage of endpoint security skills31% of organizations have a problematic shortage of network security skills30% of organizations have a problematic shortage of data security skills30% of organizations have a problematic shortage of security analytics/forensic skillsNow I’ve been one of the louder voices screaming about the cybersecurity skills shortage for a while but thankfully I’m not alone. In November, a special Parliamentary Select Committee in the United Kingdom’s House of Lords reported a global shortage of ” no less than two million cybersecurity professionals” by the year 2017. In 2013, a Government Accountability Office (GAO) report stated that the DHS’s National Protection and Programs Directorate’s Office of Cybersecurity and Communications had a vacancy rate of 22%. Similar data is coming from other geographic areas as well.Cowboy philosopher, Will Rogers, was once asked about investing in real estate. He’s quoted as saying, “buy real estate because they ain’t makin’ no more of it.” In other words, supply is fixed so there will money to be made in periods of high demand. Old Will Rogers’ homespun advice will take hold in 2015 with regard to cybersecurity skills. With no end in sight for targeted attacks and a parade of data breaches at Home Depot, Staples, and Sony Pictures, I’m convinced that there is going to be a Black Friday-like buying frenzy for cybersecurity talent throughout 2015. What does this mean? Nervous financial services vendors and government integrators will bid up cybersecurity salaries to new highs. In the meantime, security services leaders like CSC, Dell, HP, IBM, Symantec, and Unisys will aggressively cherry pick cybersecurity specialists by offering lucrative compensation packages along with intensive training for skills development. Cybersecurity employees with years of faithful employment at small regional banks, Universities, and State governments will get offers they simply can’t refuse. This will cause a panic at many organizations when they lose security professionals who more-or-less “owned” their informal incident detection and response processes. We’ve known about the cybersecurity skills shortage for years and haven’t done nearly enough to address this problem. Lip service, token programs, and spreading limited funding around make good press releases but are little more than another finger in the dyke. When it comes to cybersecurity, it’s sexy to talk about sophisticated adversaries, innovation and VC-backed startups – intrigue, money and technology drive the infosec market. I get this but we still need people in place who know what they are doing and to paraphrase Will Rogers, “we ain’t makin’ ’em” – at least not fast enough to keep up with demand. We won’t have an appropriately-sized army of cybersecurity professionals in 2015 and some organizations will be left high-and-dry. As this happens, the cybersecurity skills shortage will become more visible and more problematic than the industry, national governments, and large organizations seems to anticipate. Related content analysis 5 things security pros want from XDR platforms New research shows that while extended detection and response (XDR) remains a nebulous topic, security pros know what they want from an XDR platform. By Jon Oltsik Jul 07, 2022 3 mins Intrusion Detection Software Incident Response opinion Bye-bye best-of-breed? ESG research finds that organizations are increasingly integrating security technologies and purchasing multi-product security platforms, changing the industry in the process. By Jon Oltsik Jun 14, 2022 4 mins Security Software opinion SOC modernization: 8 key considerations Organizations need SOC transformation for security efficacy and operational efficiency. Technology vendors should come to this year’s RSA Conference with clear messages and plans, not industry hyperbole. By Jon Oltsik Apr 27, 2022 6 mins RSA Conference Security Operations Center opinion 5 ways to improve security hygiene and posture management Security professionals suggest continuous controls validation, process automation, and integrating security and IT technologies. By Jon Oltsik Apr 05, 2022 4 mins Security Practices Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe