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INDIA INC HAS 40,000 CYBERSECURITY JOB OPENINGS RIGHT NOW. HERE'S HOW MUCH YOU
STAND TO EARN

The top job roles identified in the research study includes IT auditor,
Information Security analyst, Network/IT Security Engineer/Specialist, Security
Testing/Penetration Tester, and Computer Forensics analyst, with a base pay
ranging from 3 to 6 lakhs for 0-3 years of experience.

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 * ET Online

 * Updated On Jun 22, 2023 at 08:02 AM IST
   

Read by: 4224 Industry Professionals
Read by 4224 Industry Professionals

As of May 2023, there were approximately 40,000 open job opportunities in
cybersecurity, a new report has said, indicating the growing demand for skilled
cybersecurity professionals in India.

However, the demand-supply gap stood at 30%, projecting a major skill challenge
in the industry.

“There were 40,000 jobs available as of May 2023, but the skill gap remains.
There is an urgent need for upskilling the workforce and hiring qualified
professionals,” Sunil Chemmankotil, Chief Executive Officer, TeamLease Digital,
said.

In its latest report 'Cybersecurity: Securing India’s Digital Frontier',
TeamLease Digital has shed light on the rapid growth and potential of the
cybersecurity market in India, highlighting the mounting cyber risks faced by
organizations spanning diverse sectors.



Advt


According to the study, the cybersecurity market share is projected to reach
$3.5 billion, with a projected compound annual growth rate (CAGR) of 8.05% by
2027.

Global weekly cyber-attacks have increased by 7% to surpass 1,200 attacks per
week, while Indian organizations experienced over 2,000 weekly attacks in Q1
2023, marking an 18% increase compared to the previous year. The healthcare
industry was a prime target, with 7.7% of attacks directed towards it.

To effectively combat evolving cyber threats, the study emphasizes on the
importance of upskilling the workforce with a broader range of cybersecurity
skills. Specializations in areas such as data privacy, cloud security, AI
security, and network security are in high demand.



Soft skills such as problem-solving, communication, teamwork, and collaboration
are also essential in this field.

The top job roles identified in the research study includes IT auditor,
Information Security analyst, Network/IT Security Engineer/Specialist, Security
Testing/Penetration Tester, and Computer Forensics analyst, with a base pay
ranging from 3 to 6 lakhs for 0-3 years of experience.

Moreover, senior and mid-level professionals with over 12 years of experience
have the potential to earn an annual salary within the range of Rs 50-80 lakhs.

"Amidst the growing demand for cybersecurity expertise, organizations are
recognizing the critical importance of upskilling and investing in training
programs," Krishna Vij, Business Head - IT Staffing, TeamLease Digital, said.


Advt


"Upskilling in domains like Networking & System Administration, Cloud Security,
Blockchain Security, Ethical Hacking and other key skills are in high demand,"
Vij added.

According to industry reports, few critical sectors saw major impact from
cyber-attacks. India ranks 11th in list of countries where healthcare sector is
vulnerable to cyber-attacks. It witnessed 1.9 million cyber-attacks in 2022.
Average data breach cost in 2022 was 176 million.

Ransomware accounted for 23% of cyber-attacks on manufacturing companies.
India’s share in total cyber-attacks on government agencies increased to 13.7%
in 2022 from 6.3% in 2021.

Indian banks reported 248 successful data breaches; 41 cases involved public
sector banks, 205 were private sector banks, and two involved overseas banks.

77% of retail organizations were hit by ransomware in 2021, up from 44% in 2020,
the highest of all sectors and significantly more than the global average of
37%. The ransomware recovery cost in retail sector is $1.97 million which is
above the global average $1.85 million.



 * ET Online

   
 * Published On Jun 22, 2023 at 08:02 AM IST
   


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