BSA 2024 Cyber Security Salary Guide v5 SPREADS - Flipbook - Page 5
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and generalists because they can cover multiple
bases within a single role.
But 昀椀nding people who possess the right combination of required skills is always dif昀椀cult in a market
with ongoing talent shortages, and employers
are increasingly reluctant to pay the higher salaries
these candidates typically command.
Against this backdrop, 61% of organisations believe
compensation challenges were the biggest obstacle
preventing them from hiring in 2023. This was the
most commonly cited reason, despite a notable
year-on-year decline in the number of employers
listing it as a factor (72% in 2022).
Candidates lacking suf昀椀cient technical or regulatory
knowledge was a problem for more than half
Top four factors preventing hiring
Compensation
challenges
2023: 61%
2022: 72%
2021: 80%
Insufficient technical/
regulatory knowledge
2023: 56%
2022: 70%
2021: 73%
Remote working
policies
2023: 33%
2022: 17%
2021: 23%
Poor
cultural fit
2023: 33%
2022: 26%
2021: 20%
of organisations (56%) over the past 12 months,
but this 昀椀gure was also down – from 70% – when
compared with the previous year.
Meanwhile, 昀椀nding people who are the right cultural
昀椀t is becoming more important. A third of employers
mentioned poor cultural 昀椀t as a challenge in 2023
– up from 26% in 2022 and 20% in 2021.
There has also been a substantial rise in the number
of organisations mentioning 昀氀exible working policies
as a pain point in the hiring process. In 2022, less than
a 昀椀fth (17%) highlighted it as an issue, but last year
this nearly doubled to 33%.
This trend is partly due to evolving attitudes towards
昀氀exible working since the pandemic, a topic we
explore in more detail later in the report.
Candidates continue to express optimism
regarding the current job market, with nine out
of every 10 professionals saying they are con昀椀dent
about their employment prospects.
And while the economy took a turn for the worse
last year, fewer people are listing remuneration
as their top reason for seeking a new job (45%
versus 50% in 2022). Nevertheless, it remains
the biggest motivating factor for candidates.
Flexible working is also a prevalent issue. Nearly
a third (32%) of professionals now prioritise either
remote working or a better work-life balance
when considering new cyber security and
data privacy jobs.
