CISO wage progress has slowed with 20% receiving no elevate in any respect in 2023, in accordance with a brand new research by IANS Analysis and Artico Search.
The analysis discovered a median whole compensation enhance of 11% over the previous 12 months. This represents a discount of 14% from the earlier 12 months.
The typical base wage enhance was 7% in 2023, falling from 10% the earlier 12 months.
IANS surveyed over 600 CISOs from the US and Canada between April and August 2023 to compile the analysis.
It additionally revealed that fewer CISOs obtained bonuses and fairness packages will increase this 12 months.
Widening Wage Hole Between CISOs
There’s a widening hole between the highest and backside incomes CISOs, in accordance with the report. The typical whole compensation throughout all members was $550,000, with a median of $388,000.
Over half (52%) of CISOs surveyed earn beneath $400,000 per 12 months. That is made up of 30% whose whole earnings are beneath $300,000, and 22% who take residence between $300,000 and $400,000.
There’s a a lot smaller proportion of ‘center earners,’ with 6% receiving between $500,000 and $600,000 each year, and eight% incomes between $600,000 and $700,000.
On the greater finish, 20% of CISOs have an annual compensation that exceeds $700,000.
The survey discovered that CISO salaries assorted considerably between completely different industries. Finance and tech companies pay the very best common salaries, at $728,000 and $678,000, respectively.
CISOs working in authorized, healthcare and manufacturing have a a lot decrease whole compensation package deal, starting from $327,000 to $378,000.
Are CISOs Happy with Their Salaries?
The report discovered that 75% of CISOs are contemplating a job change inside the subsequent 12 months, up from 67% in 2022. Nick Kakolowski, senior analysis director at IANS, stated the rising duties of the CISO function are usually not being matched by way of the extra compensation being supplied.
“On nearer inspection, we’re seeing CISOs getting elevated within the enterprise, taking over a bigger scope and being uncovered to elevated legal responsibility. Commensurate compensation will increase aren’t extending into the center and decrease quartiles of the market. We anticipate CISOs to hunt change in consequence,” he commented.
Steve Martano, associate and govt recruiter for Artico Search’s cyber apply, highlighted the financial downturn as the first issue within the decrease progress in CISO pay, resulting in much less alternatives to land large-scale pay rises by altering firms.
Martano suggested three issues CISOs can do to enhance their marketability, together with:
- Strengthening their private model
- Elevating their competence in enterprise acumen
- Bettering their govt presence to place themselves strongly with potential employers.
