High profile hacks in 2016, including the theft of $65 million in Bitcoin currency and 500 million Yahoo accounts, underscore the necessity for businesses to mitigate the risks of an increasingly digital world.
The cyber security industry has been—and is expected to continue to be—a “hot” industry for job growth. There has been a steady increase in hiring as well as an increase in salaries. These hiring trends are expected to continue for cyber security in 2017, along with other IT sectors as businesses work to prevent hackers from stealing critical information or interfering in computer networks.
However, the talent pool in the cybersecurity field is already even tighter than the labor market in general. More than 209,000 cybersecurity jobs in the U.S. went unfilled in 2015, and job postings increased 74 percent from 2010 to 2015, according to an analysis by Peninsula Press, a project of the Stanford University Journalism Program.
Although educational institutions are slowly adding specialized programs, it’s likely that demand will still be chasing supply for cybersecurity talent in 2017, which could lead to more competition and higher wages for top performers.
According to, Forward Thinking: A Look Ahead at Tech Jobs, IT and cyber security priorities for hiring fall across six sectors. Tech employment is expected to grow 12% by 2024 compared to an only 6.5% projected growth in all other industries. There is also expected to be 488,500 new IT jobs by 2024.
Tech Sectors Forecasted Job Growth by 2024:
Analysis – 21%
IT Security – 18%
Managed Services & Project Management – 15%
Health IT – 15%
Web Development – 27%
Database Administration – 11%
To fill these many forecasted job opportunities, an abundant need of highly educated, highly trained IT and cyber professionals will need to be in place over the next few years.