Cyber-security salaries soar as firms scrabble to lock up data
Tech sector salaries are surging in the UK, especially when it comes to cyber security, according to a report from recruitment firm Reed.
Reed’s report showed rises across the board for all IT-related roles, with technology the fastest-growing sector last year after a 13.8 per cent hike in jobs posted and a 4.7 per cent increase in the average salary.
With the number of data breaches increasing and massive fines levied against firms who are deemed not to have secured their data effectively enough, demand for cyber-security experts is at an all-time high.
The report said the cyber-security market is “extremely active” and that it is now worth £3.5bn and growing - a marked increase from the £2.4bn valuation in 2010.
New data protection rules and the rising threat of cyber crime in particular has seen rocketing demand for some roles, pushing up salaries in turn.
For example, a network security analyst has seen a 34 per cent rise in average salary - up to £63,000 - since 2017.
Other IT roles that saw significant salary hikes over the £40,000 mark include an 11.5 per cent increase for infrastructure security engineers and 7.5 per cent jump for user interface designers.
Reed also conducted a survey of 5,000 people, 337 respondents of which were from the IT sector. It found that employees are increasingly opting for multiple jobs and the flexibility of temporary contracts in order to improve their work-life balance, as well as the variety of work and challenges.
The survey found that a fifth (19 per cent) held more than one contract role, while 13 per cent have three or more contract roles simultaneously.
Aside from lucrative tech roles, the report showed that engineering jobs were also in high demand, with a 0.9 per cent rise in jobs advertised last year.
However, engineering wages only edged 2.1 per cent higher, compared with the national average of 3.4 per cent.
Tom Lovell, global managing director at Reed Specialist Recruitment, said: “With continued record levels of employment, salaries are rising in response to skills shortages.
“This is particularly acute in the technology sector as digital transformation continues to be an area of significant investment.
“An ageing workforce combined with a lack of new talent entering the engineering sector is also a challenge, leading to higher vacancy levels.”
He added the report showed how sectors are responding to the changing political and commercial landscape.
Industry: Cyber Security
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