In today's digital era, data has emerged as a critical asset for businesses. With the widespread adoption of digitization, companies are entrusted with vast volumes of sensitive information, encompassing details about their employees, partners, and much more. A significant portion of this invaluable data now resides in the cloud, providing a convenient and scalable storage solution. However, this convenience comes with a caveat - the increased exposure to online threats and malicious attacks.
To safeguard data and protect against cyber-attacks, experts well-versed in security measures and information security protocols step in. These experts, often known as Chief Information Security Officers (CISOs), play a pivotal role in ensuring the integrity and confidentiality of data.
In this article, we will delve into the multifaceted responsibilities of CISOs, explore their compensation packages, and chart a career path in the dynamic field of information security.
What is the Chief Information Security Officer (CISO)?
Chief Information Security Officer (CISO) is a high-ranking executive who oversees an organization’s technology, cyber, and information security. They’re tasked with developing, implementing, and enforcing security policies to protect critical data.
To become a Chief Information Security Officer, you would need a Certified Information Systems Security Professional certification.
CISO Job Trends
Over the past few years, the roles and responsibilities of a CISO have evolved. Consequently, so have the jobs. Here are a few trends that the CISO job market has witnessed:
- In the US, the median salary for a CISO has risen to $584,000 this year from 23% in 2020 and 15% from last year.
- Typically, most CISOs are from an IT background. However, of late, there are different expertise like software engineering, which has gone up to 10% this year from 7% last year.
Chief Information Security Officer Salary
With increasing cybersecurity threats and breaches, the position of CISO is very crucial, so it’s safe to assume that they earn substantial salaries. Below is a table to support this assumption of CISO salary in 2024.
1. Average CISO Certification Salary
The average CISO salary is lucrative. Below is an overview:
Time frame | Median rate |
CISO salary per hour | $115 |
CISO salary per month | $19,870 |
Chief cyber security officer salary per year | $238,443 |
2. CISO Certification Salary: Based on Experience
CISOs' salaries are influenced by their experience level, reflecting the valuable skills and expertise gained over time. Here's a more detailed breakdown of how experience impacts CISO certification salaries:
- Beginner (1 to 5 years of experience) - $180,408 annually
- Intermediate (7 to 9 years of experience) - $230,080 annually
- Advanced (20+ years of experience - $298,584 annually
3. CISO Certification Salary: Based on Location
Owing to the variations in cost of living, local job market, and industry demand, geographical location influences the salary of a chief information security officer. To give you an idea, the table below has a few top countries with the top three cities.
Location | Top cities | Average base salary (annual) |
India | Mumbai | INR 3,397,059 |
Delhi | INR 1,526,047 |
Bangalore | INR 2,309,210 |
US | New York City | $280,153 |
San Francisco | $298,035 |
Washington, D.C. | $265,418 |
UK | London | £122,281 |
Manchester | £53,414 |
Edinburgh | £45,446 |
Australia | Sydney | AU$190,000 |
Melbourne | AU$213,159 |
Brisbane | AU$180,597 |
Canada | Toronto | C$170,234 |
Vancouver | C$180,870 |
Montreal | C$154,244 |
Singapore | Singapore City | S$199,050 |
4. CISO Salary: Based on Industry
Like other factors, different industries have their security requirements for data. Consequently, people responsible for overseeing these information safety requirements earn differently depending on their industry.
Industry | Average salary of CISO per annum (USD) |
Finance | $262,717 |
Healthcare | $299,770 |
Information technology | $313,140 |
Manufacturing | $291,819 |
Retail and wholesale | $290,576 |
Telecommunication | $262,951 |
5. CISO Salary: Based on Job Roles
As seen earlier, CISO salaries vary vastly based on a multitude of factors, and another one is job role. Based on the different job roles like the following, salary will vary too.
Job roles | Average annual salary (USD) |
Chief Information Officer | $2,00,367 |
CISO | $1,75,511 |
Information Security Director | $1,68,044 |
Director of Security | $1,84,588 |
6. CISO Salary: Based on Skills
For a CISO employee, a set of specific skill sets impacts their salary in the field. These skills concern the domain of cybersecurity, IT, infrastructure, and system management in general. This table highlights the highly sought-after skills for CISO.
Skill area | Average Salary (USD) |
Cyber security | $176,929 |
Security risk management | $174,785 |
Leadership | $184,372 |
IT Security and infrastructure | $163,030 |
Security policies and procedures | $160,955 |
7. CISO Salary: Based on Education
When it comes to CISO salaries, education plays a key role. While a bachelor’s degree in cybersecurity and IT is a prerequisite, you will need a bunch of other security-related certifications/degrees to enhance your career prospects. Moreover, to become a C-level professional, a master's degree is required.
We'll look into how different education levels can affect their earnings.
Level of education | Average annual salary (USD) | Increment percentage |
Bachelor’s degree | $155,000 | 59 per cent |
Master’s degree | $206,000 | 33 per cent |
Factors Affecting CISO Salary
Just like the roles of CISOs, the salaries also vary a lot. While some businesses look for a CISO who can help build a security team from scratch, others want someone adept at enhancing security, strategizing, and leading. Knowing the different factors helps you understand what affects the salary of the highest paid CISO.
- Location: The cost of living varies from region to region, and this, combined with regional job markets, affects salaries. In a metropolitan area like New York, a CISO might earn $280,985 annually. Someone in the same role in a smaller city like Atlanta could earn $234,877. From these figures, you can draw the conclusion that depending on the location, there can be a variation of 15 to 20%.
- Industry/employer/company: An employer's size and the industry also impacts a chief information security officer salary. In sectors like technology and finance, where data security is of critical importance, pay a higher salary. Similarly, large corporations tend to provide more substantial compensation packages compared to smaller organisations. For instance, a CISO at a telecommunications company may earn around $263,000, while someone working in a tech company might earn $313,000.
- Experience: Experience demonstrates a candidate's ability to manage complex security challenges, leading to higher pay. A junior-level CISO with 1 to 5 years of experience might earn around $120,000 to $160,000, while those with 10+ years of experience could command salaries exceeding $250,000.
- Demand and supply: One of the reasons for a substantial increase in salary in recent years is the market’s demand and supply for qualified CISOs. Compared to the growing threats, there’s a scarcity of experienced CISOs.
- Credentials/certifications: Additional certifications like IT Security courses significantly impact the salary of a chief information security officer. These certifications add not only expertise but also display one’s commitment to continuous professional development.
- Skills: In addition to general skills, specific skills like compliance, threat management, and cloud security can further add to the earning potential of a CISO. These skills are often in high demand, and individuals possessing them can earn a CISO salary range of 10-20% more than their peers without such expertise.
How to Improve CISO Certified Professional Salary?
Whether you’re a CISO just starting your journey or someone seeking advancement in your current position, here are a few ways to enhance your earning potential.
- Skills: Every job requires a set of technical and soft skills. In today’s digital era, technical skills like cloud security, data privacy, and threat management boost a CISO's value. Soft skills like communication, strategic planning and leadership are invaluable. With both skill sets together, not only can CISOs handle complex security issues but also increase their pay.
- Certifications: Employers value certifications and credentials as they show your commitment to staying up-to-date in the constantly evolving sector. Additional certifications such as Certified Cloud Security Professional (CCSP), Certified Information Security Manager (CISM), and Certified Information Systems Security Professional (CISSP) can help you raise your pay.
- Degrees: Similar to certifications, higher degrees like a master's or even a doctorate can show commitment to growth, something employers often reward with higher pay. Besides, they are a clear indication of improved knowledge and skills.
- Experience: Experience is a pivotal factor that influences pay. The more an individual handles crises, prevents security breaches, and solves problems in the security field, the more experience and pay they get.
For CISOs looking to increase their pay— gaining experience, pursuing degrees, obtaining relevant certifications and developing skills, is the right way to go.
Why are CISO Certified Professionals Paid So Much?
With the changing digital threats and the importance of cybersecurity, the need for capable CISOs is growing. Moreover, this higher demand leads to better pay, and it's only predicted to grow.
In the past ten years, businesses have begun to understand cybersecurity risks. They now know the need for a secure system to protect their digital information. For this, they need experienced individuals who know what they're doing.
A CISO's responsibility spans designing and executing robust cybersecurity strategies. These strategies protect sensitive data, prevent cyber attacks and ensure seamless business operation. Recognizing the potential fallout from cybersecurity breaches – their role and the exceptional value they contribute to today's digital realm.
The outlook for CISO salaries remains positive in the coming years. As companies automate their operations and potentially confront more advanced cyber threats as they move to the cloud, the demand for skilled CISOs will only rise. Alongside safeguarding against attacks, CISOs are also expected to actively engage in strategic planning, risk management, and compliance.
While certifications, experience, industry, and location still affect CISO salaries, the general trend suggests that CISOs can expect their pay to match the increasing importance of their roles. Their compensation will consider their current contributions and readiness to handle changing cybersecurity threats and safeguard data in the years ahead.
Conclusion
With the rapid advancement of technology, the demand and pay for a CISO are only increasing. Not only these, but newer roles of CISO are also emerging where it's more than just protecting data - it includes managing risks and devising strategies.
In this guide, we have covered different aspects of a CISO salary to help you understand the dynamics of their salary in the continually changing landscape.
To learn more and get on a higher pay scale, KnowledgeHut's Certified Information Systems Security Professional course is the perfect solution. It's a comprehensive course with all the necessary tools to succeed and advance your career.
