BSA 2024 Cyber Security Salary Guide v5 SPREADS - Flipbook - Page 15
15
Salary and bonus trends
Cyber security and data privacy starting salaries saw
almost unprecedented growth across 2021 and early
2022. Last year, salary increases began to plateau as
the market cooled, although they remained above
historic averages due to ongoing talent shortages.
Employers intend to
increase base salaries
for existing employees
by 8% in 2024
While organisations are undoubtedly tightening their
belts in today’s economic climate, it is rarely budget
limitations alone that are holding employers back
when it comes to hiring. Some are simply reluctant
to pay current salary expectations because they do
not believe they are getting value for money.
This is perhaps partly due to how quickly junior salaries
have risen in particular. As a result, the pay gap has
narrowed considerably between those entering the
market now and more experienced mid-level professionals who did not switch roles in 2021 or 2022.
“Organisations are looking for candidates who have
both deep expertise in particular skillsets and the
breadth of knowledge required to cover a range of
bases,” says James Lawrence, Principal Consultant
at Barclay Simpson.
“Unfortunately, many 昀椀rms are struggling to 昀椀nd people
who tick all the right boxes unless they can be more
昀氀exible on salary or manage their expectations with
regards to experience.”
