Indian cyber security professionals receiving packages of INR 2- 4 crore

Thursday, November 2 2017

Indian cyber security professionals receiving packages of INR 2- 4 crore | Nov 2, 2017, 03.16 PM IST IT Security Image Credit Continue reading A severe scarcity of cyber security professionals in India particularly at the leadership level, has hiked salaries offered for such job roles by 25-35 percent as compared to last year. Hacking and cyberattacks are pushing firms to recruit talent at premium packages with salaries touching an upwards of INR 2 crore and in some cases close to INR 4 crore. Also the previous year's demonetization move and the government's ambitious initiatives like Digital India is surging the demand for cybersecurity professionals. Given the importance of the job, top cybersecurity professionals are also reporting directly to their company board rather than CEOs. "Till 18 months ago, cybersecurity was looked at as managing IT services risk, but now this has reached the company boards as the entire business is dependent on this,. Tax and advisory firm KPMG itself has doubled its team to 320 in two years and its leadership team has almost trebled in the same time,''said Atul Gupta, partner and cybersecurity lead for KPMG. "Compensation for top talent in the cybersecurity space is anywhere between Rs 1.5 crore and Rs 4.5 crore," adds Gupta. The search for leadership roles has also soared by 25 to 100 percent as compared to last year as per research firms. "There is a demand for cybersecurity professionals at the leadership level and also at lower levels. It has shot up in the last one year," says Korn Ferry India's managing director Navnit Singh. "Companies are now vulnerable to cyberattacks and especially with the government's initiatives like Digital India and demonetisation, almost all companies across all sectors are going digital to some extent. Demand for cybersecurity professionals is driven mostly by consulting firms, banks, the government, retail, BFSI companies and IT companies. To ensure a supply pool of cybersecurity specialists, Nasscom has rolled out a curriculum on the subject with 10 specialised courses,'' says Ashok Pamidi, senior director of Nasscom. Transearch India is also hunting for cybersecurity leaders for four firms "In the last 12 months, we did not have any mandate from our clients in the cybersecurity space. This is a new trend for us," says Uday Chawla, managing partner at Transearch. Some of the recent appointments include Mandar Patil who is serving as the director of sales at Smokescreen Technologies, a cyber security startup. Patil previously served as a senior executive in the BFSI domain at IBM. CrowdStrike, another cyber security firm based out of US recently inaugrated its development center in the city of Pune and appointed Ramanand Kambli as the regional director for sales, India and SAARC and Jhilmil Kochar as the Managing Director. Hunt Partners has also completed over half-a-dozen directives for cybersecurity professionals since last nine months. "We have seen a consistent increase in demand for security professionals across the board for roles including chief security officer and chief information security officer and head of cybersecurity. There is a supply constraint and it is a nascent market, leading to sourcing from all avenues, including outside India,'' said Suresh Raina, managing partner at Hunt Partners. Financial services institutions including banks, payment gateways and ecommerce organisations are the biggest employers in cybersecurity, as per Sunil Goel, managing director at GlobalHunt. Rimit