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The Fast-Growing Job With A Huge Skills Gap: Cyber Security

The Fast-Growing Job With A Huge Skills Gap: Cyber Security

Shutterstock

Some experts predict there will be a global shortage of two million cyber security professionals by 2019.

Behind every new hack or data breach, there s a company scrambling to put out the fire . That s good news for job seekers with cyber security skills . Employers can t hire them fast enough.

The ISACA, a non-profit information security advocacy group, predicts there will be a global shortage of two million cyber security professionals by 2019 . Every year in the U.S., 40,000 jobs for information security analysts go unfilled, and employers are struggling to fill 200,000 other cyber-security related roles, according to cyber security data tool CyberSeek . And for every ten cyber security job ads that appear on careers site Indeed3, only seven people even click on one of the ads, let alone apply. 12

It s easy to see why these jobs are in demand . I know I ve lost count of major data breaches, and the stakes for companies are high. Recent research by Cisco showed that 29% of breached organizations lost revenue . And breaches can impact companies of all types, from large corporations to small hospitals . On the black market, health care records reportedly sell for $5 apiece. 456

One of the most in-demand cyber security roles is security analyst, says Bill Bonifacic, who leads the cyber security practice at staffing firm Bluestone Recruiting . Security analysts work to prevent and mitigate breaches on the ground .

In 2012 there were 72,670 security analyst jobs in the U.S., with median earnings of $86,170 . Three years later, there were 88,880 such analysts making $90,120.789

Another hot job is security manager, says Bonifacic . Security managers develop and implement overarching processes to keep information private .

Often you ll need a professional certification to be considered for such a role, like a CISM (Certified Information Security Manager) or CISSP (Certified Information Systems Security Professional).

Compensation for the most senior roles in cyber security, like chief information security officer, can reach $400,000, says Bonifacic . Cyber security jobs commanded a $6,500 premium over other IT jobs in a 2015 study by analytics firm Burning Glass. 10

If you re interested in a cyber security career, where should you look ? Large health care, financial and global manufacturing firms need armies of cyber security professionals, according to Bonifacic, as do professional services firms like Deloitte and EY.

And what type of experience stands out on a resume ?

If you re coming from a large company that hasn t been in the news for a data breach, that bodes well . Abbott, a health care firm with 75,000 employees that makes medical devices and pharmaceuticals, falls into this category . Bonifacic says, If you were running security at Abbott, you re going to do very well.

Follow me on Twitter @JeffKauflin11 or email me at jkauflinatforbesdotcom.

References

  1. ^ two million (image-store.slidesharecdn.com)
  2. ^ CyberSeek (cyberseek.org)
  3. ^ Indeed (www.indeed.com)
  4. ^ major data breaches (www.informationisbeautiful.net)
  5. ^ Recent research (b2me.cisco.com)
  6. ^ sell for $5 (www.wsbtv.com)
  7. ^ Bluestone Recruiting (bluestonerecruiting.com)
  8. ^ 72,670 (www.bls.gov)
  9. ^ 88,880 (www.bls.gov)
  10. ^ $6,500 premium (burning-glass.com)
  11. ^ @JeffKauflin (www.twitter.com)

Berkshire Hathaway Sees Huge Profits

Warren Buffett

Under Chairman Warren Buffet, Berkshire Hathaway (NYSE:BRKA1) is flourishing once again. Reuters2 recently reported that the company experienced a 46 percent increase from last year for second-quarter profits. According to a regulatory filing from the company, Berkshire had its income increase to $4.54 billion, which is a big increase from the $3.11 billion it was last year. Berkshire has a variety of investments in different industries including jewelry, clothing, and furniture companies as well as a large investment in Coca Cola (NYSE:KO3) and Wells Fargo (NYSE:WFC4).

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The company has benefited from an increase in the estimated value of their investments and derivatives.

According to USA Today6, these same investments cost Berkshire a $612 million loss last year, but garnered $622 million in profit this year.

One of the reasons for this huge swing is due to how the company has to report derivatives, says USA Today. Berkshire has to estimate the value of derivative contracts every time it calculates earnings, even though the derivatives are not going to mature for several years.

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The railroad the company has invested in, Burlington Northern Santa Fe, contributed to the company s profits by climbing 10 percent. In recent years, Warren Buffet has invested more in railroads and other companies that have tied Berkshire s performance to the economy s well-being.

Although its insurance investments did not do as well as they did last year, Berkshire s manufacturing, retail, and service investments saw increased earnings from $0.04 billion to $1.07 billion.

These increased earnings are indicative of a healthier economy.

As Reuters reported analyst Meyer Shields saying, As America goes, so goes Berkshire.

Don t Miss: Student Loans: Did This Congress Deal Make it Better?8

References

  1. ^ NYSE:BRKA (images.wallstcheatsheet.com)
  2. ^ Reuters (www.bloomberg.com)
  3. ^ NYSE:KO (images.wallstcheatsheet.com)
  4. ^ NYSE:WFC (images.wallstcheatsheet.com)
  5. ^ CLICK HERE for your Weekly Stock Cheat Sheets NOW (wallstcheatsheet.com)
  6. ^ USA Today (www.usatoday.com)
  7. ^ CLICK HERE for your Weekly Stock Cheat Sheets NOW (wallstcheatsheet.com)
  8. ^ Student Loans: Did This Congress Deal Make it Better? (wallstcheatsheet.com)