Date Published: 26-04-2018

The UK is one of the world’s leading digital nations and is now confronting an increase in cyber security threats which has resulted in increased expenditure on security in both public and private sectors. This comes after high profile organisations like the NHS and other businesses including Renault experienced global cyber-attacks causing widespread disruption.

 

According to Statista, the total cyber security sector in the UK market (2017) was estimated to be worth £3.5 billion and is now viewed as one of the largest cyber security markets in Europe. This resulting exposure means the UK Government are looking to invest £1.9 billion into defending systems over the next 5 years.

With the additional factor of the upcoming General Data Protection Regulation (GDPR) in May, business will continue to drive future spending on cyber security as companies seek to comply with the regulation. Companies that suffer data breaches in the future will be liable for heavy penalties that could amount to as much as 4% of a company’s annual global revenues.

The Cyber Security Breaches Survey 2017 revealed nearly seven in ten large businesses (66%) and 45% of micro and small businesses identified a breach or attack. With larger companies experiencing an average of eight breaches and shouldering an average total cost of £19,600 during the period, after Government figures revealed half of businesses have experienced a cyber-security breach.

Cyber roles are already in high demand as it is; adding in the element of security and other variables makes these roles even more critical and sought after yet there is still a shortage of cyber security skills in the UK.

It is reported cyber security is amongst the six fastest growing industries in the UK that could significantly boost the UK Economy, with salaries expected to rise by up to 7% in 2018.

According to the US Bureau of Labor Statistics, the rate of growth for jobs in cyber security is projected at 37% from 2012–2022—faster than the average occupations in other sectors.

The average starting salary at entry/graduate level starts around £25,000 per annum for IT and Cyber security specialists, this can be expected to rise to £35,000 after one years’ experience according to Prospects.
After 5 years’ worth of experience, candidates can progress into more senior roles, and can expect to earn between £45,000 to £80,000.

 

With data breaches and headline grabbing ransomware attacks becoming more sophisticated, cyber professionals are growing in demand. This year alone at Cooper Lomaz we’ve already experienced a higher number of vacancies (45% growth) and have recently placed professionals with some of our key clients across East Anglia. We’ve seen a range of vacancies from Network Security Engineers and Pen Testers to the more senior appointments like Security Architects and Consultants. We’ve also seen an equal demand across both permanent and the interim markets.

This is a new cutting edge industry and just the beginning for the rise in cyber security roles. If current professionals broaden their skill sets and colleges and universities expand their offerings more young talent will continue to fill these rewarding positions.

 

Are you looking for the next step in your career? Cooper Lomaz pride themselves on the level of service offered to candidates through the recruitment process and our expert consultants are on hand to help you achieve you find the right job – Take a look at our current vacancies online