What is the best industry to work for in cyber security in 2022?

Security is more critical than ever as technology plays an increasing role in our day-to-day lives. The talent needed to protect individuals, businesses, and governments are lacking. Cybercriminals continue to attack organizations and critical infrastructure, and governments around the globe, in almost every sector and industry, are suffering from the cybersecurity talent shortfall.

However, some industries are particularly suffering and have a pressing need for cybersecurity professionals. The salaries for cybersecurity professionals are on the rise, and there are many job opportunities, particularly in these top sectors.

1) Financial Services

Cybercriminals target financial institutions, so it is not surprising. Cybercriminals have attacked the Securities and Exchange Commission (Equifax), HSBC and Lloyds Banking Group (Lloyds Banking Group), JPMorgan, and many other less-known financial institutions. According to Business Insider, financial companies are 300 times more likely than other businesses to be targeted. A report concludes that the industry is grossly inadequately prepared.

Financial services offer hackers a lot of potential. Customers can pay their bills online, check their account balances online, and send money to family members online. The RSA Conference reported that a survey by TD Bank surveyed 400 financial professionals. It found that 9/10 of them believe that payment fraud will become a more significant threat in the next 2 to 3 years. “What’s more? Nearly two-thirds of respondents said their organization or one of their clients was at the wrong end in a cybersecurity incident in the past year. The most common incidents were business email compromises (20%), account takeovers (19%), and data breaches (15%),” wrote RSA.

Although financial institutions are aware that security is a concern, many don’t have the tools or knowledge to deal with the sophisticated tactics of cybercriminals. RSA stated that recent surveys show an industry that can see the dangers but is often faced with whiteout technology.

Financial institutions need to attract and retain cybersecurity experts to guide them in mitigating risk and setting up comprehensive security policies for the future.

2) Government

The government isn’t known for its speed, and cybersecurity lags behind. Security Scorecard’s report on 552 federal, state, and local organizations found that government security was inadequate in many vital areas. This includes replacing obsolete software, patching existing software, and reputation for IP addresses.

Given the massive amount of data that is stored in the government, it’s arguably the most important repository of data worldwide. The vulnerabilities are alarming. The government, which is vastly more secure than the private sector, has a wealth of information that hackers can access. This exposes national security to danger. The government’s inability to secure its data adequately is due to insufficient cybersecurity talent.

The list of federal agencies that have been affected by data breaches has been long and complicated. It includes the Departments of State, Energy, Homeland Security, Veterans Affairs and Defense, CIA, NSA, SEC, IRS, FDIC, and U.S. Postal Service.

According to a DHS cybersecurity recruiting video, this has led to a strong push for the recruitment of “best talent” to fight “rogue hackers,” criminal organizations, and nation-states.

If you are a cybersecurity professional looking to impact national security majorly, a government role (state and federal) may be enticing. This is especially true if administrators remove many barriers that deter would-be government cybersecurity workers from applying. 

3) Health care

Health care organizations have access to sensitive information just like the government. Many organizations fail to protect that data, just like the government adequately. Millions of patients have had access to private records compromised in an ongoing series of costly and high-profile data breaches, according to healthitsecurity.com. HIPAA Journal reports 89% have suffered a data breach. Ransomware attacks are also affecting the health care sector.

Cyberattacks on health care organizations are frequent because of two main reasons. The high value of the organizations’ data and the ease hackers can access it. Cybercriminals then sell data gleaned from insecure networks to the black market. This is where personal data can be sold for many purposes, including identity fraud and espionage.

The digitization of health care and the interconnectedness of devices over the last decade has brought many benefits to health care organizations while also creating a huge security problem that will have severe consequences for patients and providers.

One thing is sure: healthcare is now hiring cybersecurity professionals because of all the threats to this critical industry.

4) Manufacturing

Manufacturing is also highly vulnerable. One recent survey reported that hackers attacked 40% of manufacturing companies last year and 38% of those who suffered more than $1 million in damage.

Cybercriminals can use a variety of tactics to attack critical infrastructure, steal industrial secrets, send phishing emails, and drive-by downloading. These actions can cause product defects, production disruptions, injury, death, loss of sensitive information, and even lead to the destruction of important information.

Cybercriminals find the manufacturing industry a desirable target because of several reasons.

• Security in mind for legacy equipment and industrial IoT devices
• Gaps in IT and Operations Technology
• Inadequate documentation of training, processes, and procedures
• Preliminary risk assessments are not done

Manufacturers have a cybersecurity weakness: the Internet of Things (IoT). Manufacturers can gain efficiency and improve production with connected devices and intelligent machinery. However, IoT could allow hackers to easily access their network and cause them to be vulnerable to being targeted.

5) Retail

Hackers are often opportunistic shoppers and can see vulnerabilities in retail. Numerous big-name retailers have suffered data breaches, such as Macy’s and Home Depot, CVS (CVS), Kay Jewelers, Target, Best Buy, Target, and others. Cybercriminals are increasingly targeting the retail sector, as eCommerce giants make it more challenging to conduct retail transactions online.

According to Homeland Security Today, “The retail and consumer goods industry is facing an increasing number of sophisticated cyberattacks from nation-state cyber-attackers and criminal cyber-attack groups, as well as politically and socially motivated hackers, often planning and coordinating and implementing cyber attacks in an integrated manner at a national or multi-national level.” Because they are easily monetizable, financial information, especially credit card numbers, is a high-reward reward for a successful cyberattack.

To meet this challenge, large-scale retailers have increased their cybersecurity staffing. 

Conclusion

There are many sectors and industries that require cybersecurity professionals. However, it is evident that the need is greatest in the financial, healthcare, manufacturing, and retail sectors. These industries offer rewarding careers with excellent job security and high pay if you’re interested in a career as a cybersecurity professional.