IBM’s annual Cost of a Data Breach study revealed a single data breach can cost a company up to $3.29 million, a 12 percent increase from the cost of breaches in 2014. Add to this the devastating impact cyberattacks have had on corporations like Equifax, Facebook, and T-Mobile and there’s no wonder businesses are paying more than ever to net in-demand cybersecurity professionals to protect their sensitive data and valuable assets. Here’s a look at the six highest-paid cybersecurity jobs and their average salary ranges, so you have the salary insights you need to hire the expert talent you lack.

The 6 Highest-Paid Cybersecurity Jobs:

Information Security Manager

According to our 2019 Tech & Digital Marketing Salary Guide, this role tops the list of highest-paid cybersecurity jobs with an average salary range of $125,000 to $215,000. Information Security Managers play a key role in avoiding security disasters by identifying any areas that might make your information systems vulnerable. These are the professionals who are tasked with assessing current security measures and mitigating future attacks against your company’s computers, networks, and data.

  • When to hire? Looking to protect consumer data and avoid the fees & fines that are related to getting your sensitive data hacked or stolen? Do yourself a favor and hire for this role before your bottom-line pays the price and you're forced to allocate funds to hefty fines for failing to protect consumer data, like Uber when the company was fined $148 million for violating state data breach notification laws.

Cybersecurity Engineer

The Cybersecurity Engineer position also nets one of the highest salaries in the security industry, with average cybersecurity salaries ranging from $120,000 to $200,000.  Companies invest in these professionals for their skill sets and experience as they are primarily responsible for multiple security engineer functions, including designing, developing, and implementing secure network solutions to defend against advanced cyberattacks, hacking attempts, and persistent threats.

  • When to hire? Hiring a Cybersecurity Engineer will strengthen your cybersecurity team thanks to the in-depth knowledge and experience professionals in this role bring to the table. When looking to take your team to the next level, this is the role you should prioritize hiring first.

Application Security Engineer

Another one of the highest-paid cybersecurity jobs, Application Security Engineers, make on average between $120,000 to $180,000. If your company uses software solutions provided or hosted by third party organizations like AWS or Microsoft’s Azure or even if you custom build your own solutions, hiring an Application security engineer is crucial. These professionals will be tasked with securing all software and business applications used throughout your workforce and ensuring that all privacy and compliance constraints are built into the software and followed.

  • When to hire? This role is crucial for any business looking to integrate software, like AWS or Azure into their day-to-day operations. Why? Application Security Engineers have the experience and skill sets needed to ensure the security and stability of your internal and external applications which helps prevent hackers or malicious systems from attempting to disrupt the integrity of your infrastructure.

Cybersecurity Analyst

The average cybersecurity salary for this position falls between $90,000 and $160,000, and they are worth every penny. These security professionals help create, plan, and carry out security measures to keep your infrastructure secure. They have the knowledge and experience to work with Penetration Testers and Information Security Managers to mitigate and avoid cyberattacks that could cripple your bottom line and are especially equipped to identify vulnerabilities before hackers have a chance. 

  • When to hire? If your company has been hit by a data breach or infected by a malware virus, then your next step should be to hire a Cybersecurity Analyst who can help mitigate the attack and keep you protected from any future attacks.

Penetration Tester 

Penetration Testers, commonly called Pen Testers or Ethical Hackers, on average, make between $80,000 to $130,000. A McAfee survey showed that security managers believe hiring ethical hackers offers a company a valuable understanding of logic used by hackers and skills critical to cybersecurity. Does your company conduct quarterly, monthly, or daily security tests? If so, then these are the professionals you need to invest in attracting and retaining. Penetration Testers complete various, in-depth tests across your computer systems, networks, and even web applications to identify vulnerabilities that can be exploited by cybercriminals.

  • When to hire? How safe is your business from high-level cyberattacks? This is the individual that can answer that question and make sure you remain one step ahead of the latest hacking strategies. Though it may seem counterintuitive to hire hackers for your security roles, it will open up a new pool of candidates with the insider knowledge to help secure your assets.

Network Security Engineer

Rounding out this list of the highest-paid cybersecurity jobs, the average salary for the Network Security Engineer role now ranges between $125,000 to $185,000. Much like the Cybersecurity Engineer position, this is a multifaceted position; tasked with maintaining your LAN, WAN and server architecture while also maintaining and monitoring virtual networks, firewalls, email security and web protocols, security, and programs. When it comes to a business’s computer network, you can never be too secure, and this role helps guarantee your company’s network is safe and secure.

  • When to hire? If your company is experiencing issues with your network or discovering vulnerabilities you weren't aware of, then it's time to onboard a Network Security Engineer; They will help clean and protect your networks.

Consider this your exclusive guide to the highest-paid cybersecurity jobs as you head into 2020 so you can allocate the necessary funds to get the security hires you need in the door. With experts projecting cybercrimes to cost the world $6 trillion annually by 2021, it’s crucial you hire cybersecurity talent today and ensure you’re offering competitive salaries so you don’t miss out on the high-end talent you need. If you lack the cybersecurity professionals you need or want to learn more about the salary ranges for related roles, contact Mondo today. We’ll provide you with the salary insights and candidates you need to elevate your cybersecurity strategies.