India Inc. has encountered a shortage of cybersecurity professionals, particularly for management roles. The company has subsequently increased the salaries offered for these roles by about 25-35% over the last one year.
With the demonetisation exercise executed last year and the government pushing the economy towards digitalisation, hacking and cyber attacks are seen to be on the rise. This has compelled companies to hire candidates adept at cybersecurity practices by offering premium pay packages. The salaries offered for the top roles can go above Rs.2 crore. In few instances, the offers have touched Rs.4 crore (including variables) as well.
Cybersecurity officials are also placed in the companies in a way that they report directly to the company boards and not the chief executive officers. Transearch and Hunt Partners have mentioned that majority of their clients have created committees for cybersecurity in the last one year.
Navnit Singh, managing director of Korn Ferry India, said that the demand for cybersecurity professionals are high at the leadership level and the lower levels alike. The requirements to fill up positions have increased in the past year. Korn Ferry has employed more than 3 cybersecurity leaders in the last 6 months.
Transearch India is looking to employ cybersecurity managers for 4 prominent clients, and this is a new trend observed since the past one year.
The requirement for cybersecurity professionals is high in banks, consulting firms, retail businesses, government, IT companies, and BFSI firms. Nasscom has come out with a curriculum of 10 specialised courses to train qualified candidates in cybersecurity practices and ensure a steady supply of talent.
The job profiles that require cybersecurity talent are firewall and security device developers, information risk auditors, intrusion detection professionals, security system analysts, responders of computer security incidents, vulnerability assessors, cryptologists, chief information security managers, and lead security architects.