Cybersecurity is all the rage in 2022 around the world. According to TechCrunch, funding for cyber startups increased 138% in 2021 to a high of US$29.5 billion. This surge of interest in cybersecurity and cybersecurity careers was sparked by an increase in cybercrime and conflict between nations in cyberspace. Cybersecurity Ventures expects cybercrime to cost the world US$10.5 trillion in 3 years by 2025 (That's about 30x the GDP of Singapore).
Cybersecurity Job Shortage In Singapore
Every government, company and organisation in the world will be or has already been impacted by cybercrime. The sobering reality is that cybercrime will continue to grow with the further digitalisation of our economies and societies. With this comes a greater need for cybersecurity skills and talent in every sector and country.
The surge in cybercrime has resulted in an estimated global cybersecurity job shortage of 3.5 million openings.
In Singapore alone, there as an estimated shortage of 3,400 cybersecurity professionals, according to the Cyber Security Agency of Singapore (CSA). The cybersecurity industry is seeing massive growth, and with it comes a great opportunity for individuals looking to become a cybersecurity professional.
1. Iron Rice Bowl Career
Why do we use the term 'iron rice bowl'? The demand and need for technically skilled cybersecurity professionals is high and will remain that way for a long time. As stated above, the floodgate of cybercrime has been breached, resulted in a scramble to hire individuals who have the ability to defend against these cyber attacks.
In Singapore, we're familiar with the notion of stable careers such as doctors and lawyers, the new form of that is cybersecurity. As long as you have the necessary skills and continue upskilling, a cybersecurity career is a safe choice with huge upsides.
2. Competitive Salary For All Levels
The average starting salary for an entry-level cybersecurity professional in Singapore is SGD$51,000, while a senior position that requires 3-5 years of experience pays roughly SGD$88,000. Individuals who excel in the industry and reach positions such as Chief Information Security Officer (CISO) can expect an average salary of over SGD $200,000 (Source). Of course, the pay varies depending on factors such as skill level, industry, working hours, etc.
At Centre For Cybersecurity (CFC), our students enter their careers with a higher than average starting salary of SGD$57,600 due to the highly technical & relevant skills that are acquired during the course. Graduates leave our courses with well documented portfolios displaying their technical abilities that hiring managers and companies demand in cybersecurity professionals. Additionally, CFC sends student's resumes to partner companies for their consideration towards the end of their course.
3. Quick Career Progression
As highlighted above, the cybersecurity industry is going to explode in the coming years, resulting in huge demand for cybersecurity professionals at all levels. Information technology systems will also become increasingly complicated, requiring cybersecurity personnel to continue upskilling to defend against sophisticated attacks from cyber criminals.
This results in the need for individuals to progress quickly throughout their career as their job becomes more complex. There will be no stagnation for an individual who operates in the cybersecurity industry, and as long as he or she grows their skillsets, there will be plenty of opportunities for him or her to progress quickly. Referencing the Skills Future Framework For Infocomm Technology chart, there are many paths that one can take to advance in their cybersecurity career in Singapore.
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Starting Your Cybersecurity Journey
If you have been considering a cybersecurity career in Singapore, we hope that this article has given you insights into why it's a wonderful career to pursue. Centre For Cybersecurity helps individuals secure a cybersecurity career in Singapore in 4-6 months through hands-on training that is relevant to what the industry needs. Contact us today to find out more about how we can help you kickstart your cybersecurity career.