Australian organisations seek cybersecurity engineers

The No. 1 technology job Australian employers are trying to fill is the cybersecurity engineer, according to the latest Hays Salary Guide FY23/24. The guide revealed that the typical annual salary paid for cybersecurity engineers went up by $5,000 in Sydney, Perth, and Darwin.

Quite a few cybersecurity roles have seen a similar or more significant increase in annual wages compared to the previous period. The most remarkable are:

Sydney

• Cybersecurity architects’ salary went from $173,000 to $220,000
• Cybersecurity analysts’ salary went from $130,000 to $145,000
• Penetration testers’ salary went from $150,000 to $180,000

Perth

• Cybersecurity analysts’ salary went from $107,000 to $130,000

Hobart/Launceston

• Cybersecurity architects’ salary went from $143,000 to $160,000
• Cybersecurity managers’ salary went from $120,000 to $160,000

CISOs in Adelaide and Hobart also saw an increase in their typical annual salary of $10,000 and $17,000, respectively, while all other capital cities remained the same. This may change in the next year or two if a recent Gartner study proves to be correct in predicting that around 50% of CISOs will change jobs by 2025, as the role becomes more stressful.

Salary increases not meeting A/NZ professionals’ expectations

Speaking broadly across technology in both Australia and New Zealand, Hays found that 93% of technology employers plan to increase salaries in their next review. However, the salary increase expected by employees differs quite a lot from what employers intend to give. Hays managing director Adam Shapley said in a statement that many tech professionals feel undervalued and underpaid. “They feel their current salary doesn’t reflect their individual performance.”

There is also high expectation that salary increases will match inflationary rates and although employers understand that not all will be able to do that. Shapley noted that some employers are stretching their salary increase budget as far as they can to support their staff.

The Reserve Bank of Australia has increased interest rates three times in 2023 by 0,25% in February, March, and May. This was inevitably passed on to mortgage interest rates, which were then repassed to renters, and other basic needs have also seen an increase in prices as a result.

Hays suggests employers try to meet employee expectations as well as work on retention. He recommends not only focusing on salary increases but also other benefits including opportunities for growth, wellbeing days, additional annual leave, improved recognition, work-life balance, or a more positive work environment. In fact, a lack of promotion opportunities is the top reason among those professionals considering changing jobs.