It's impossible to say with absolute certainty that any job market will continue to boom for the next decade or more... but right now, there are few surer bets than the cybersecurity industry. For someone looking to enter the professional market, or change careers, there could be huge opportunities in cybersecurity, and a demand that currently far exceeds the available talent pool.
In fact, it could easily be argued that the current lack of sufficient qualified cybersecurity experts is, itself, a major security problem. Reports are now coming in almost every week of major attacks and security breaches in companies both large and small, with the vast majority of those breaches affecting the private data of everyday citizens.
This isn't just a problem for businesses. Given how ubiquitous online transactions have become to everyday life in the western world, cybersecurity problems affect everyone.
That makes it a career that could be highly attractive -and lucrative- to anyone with any interest in the subject.
By The Numbers: The BLS Says...
According the US Bureau of Labor Statistics, the demand for "Information Security Analysts" is growing far faster than the average market, with a growth rate of 18% projected from 2014-2024. Additionally, employers are accepting applicants with less than five years relevant experience, likely reflecting the high demand in the sector.
The pay is significantly higher than average as well, with a median salary of $88,890. By contrast, the median salary for all jobs tracked by the BLS is around $35,000. This alone speaks to the significant need for many more security experts and analysts, but private expert analyses suggest the BLS numbers may be understating the situation.
The Skyrocketing Private-Sector Demand for Cybersecurity Experts
The financial experts at Forbes see a much higher demand than even the BLS predicts. Due to the lack of qualified talent, they already see more than 200,000 positions going unfilled, growing to 1.5 million by 2019. Further, analyses by networking giant Cisco project more than one million new cybersecurity-related jobs being created worldwide in 2016 alone, with their estimates predicting more than 6 million new job openings by 2019.
In other words, there's a good likelihood of a global cybersecurity job shortfall of roughly 25%. That leaves a lot of room for interested individuals to step up and prepare themselves for those jobs. With plenty of sources available for two-year or four-year degrees in cybersecurity, that could place you in a truly excellent position job-wise as the market continues to expand.
So, beyond the obvious existing threats of cyber-attack, why is cybersecurity expected to be such a ballooning field? Largely, it's predicted to stem from the explosion of the Internet of Things.
In The Future, Everything Will Be Online
If you haven't heard of the Internet of Things (IoT) or don't know what it means, basically, it refers to any non-traditional electronic device that includes Internet capabilities. Things like smart refrigerators, smart thermostats, Internet-connected home security systems, online cars, wearables like watches and visors, or even online washer-dryers. The IoT is anything besides traditional computers, smartphones, and tablets.
According to the experts at BusinessInsider, the expansion of the IoT is expected to be huge. As of 2015, there were roughly 10 billion devices (including traditional computers) connected to the Internet. By 2020, they predict more than 34 billion devices, the majority of which would be considered part of the Internet of Things. Forbes concurs, citing experts who predict the IoT will add trillions of dollars to the domestic economy in the next few years.
Phrases like "the next Industrial Revolution" and "the largest growth in the history of humans" are being used in absolute seriousness to describe how quickly the Internet of Things will become part of daily western life.
One doesn't have to be a security expert to realize this will create gigantic new security challenges, especially within "smart homes" where many devices are cross-linked together. A decade ago, the idea of intruders attacking a home security system via the home's refrigerator would have seemed totally absurd. Now, it's not absurd at all. And the Cybersecurity trade group ISACA indicates that 72% of IT professionals believe IoT device manufacturers don't implement proper security.
In short, there's probably no telling how big the need for cybersecurity experts will be in the years to come. Just that it's almost certain to be huge.
Your Mission, Should You Choose To Accept It...
If you have an interest in computers, online networking systems, or security systems, a Cybersecurity degree could be your ticket to a career which isn't just well-paying, challenging and rewarding, but downright necessary in the years to come.
Earn a Degree in Cybersecurity
For more information, contact ECPI to learn about earning a Master of Science in Cybersecurity. It could be the Best Decision You Ever Make!
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Gainful Employment Information – Cybersecurity - Master’s
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