In a recent survey of almost 700 Chief Information Security Officers (CISO) from the USA and Canada, it was found that their salaries have seen a significant increase over the past year. The average annual wage for CISOs was $565,000, with a median salary of $403,000. Additionally, 10% of the highest paid specialists in the field earn more than $1 million per year.
The most effective method for increasing CISO salaries was found to be changing jobs or the threat of dismissal, followed by a counteroffer from the current employer. These approaches led to an average increase in compensation by 31%, compared to just 6.3% for those who simply continued their usual work duties or received an annual salary increase, according to Ins Research and recruiting company Artico.
However, despite the potential for salary growth through job changes, fewer CISOs are currently considering switching roles. The fifth annual survey revealed almost a halving in staff turnover compared to 2022, when 21% of respondents changed jobs over the previous 12 months. This trend is attributed to the overall macroeconomic conditions where both companies and cybersecurity professionals are opting for more stable employment situations.
The technology industry emerged as the most lucrative sector for CISOs. While the base salary in this field is not the highest at $407,000, bonuses and stock options push the total income to $721,000, surpassing other industries. In comparison, the financial sector offers an average base salary of $495,000, while education and healthcare sectors pay $243,000 and $334,000 respectively. Notably, the pharmaceutical and medical insurance industries boast average CISO salaries reaching $465,000.
One additional method for increasing income is transitioning back to in-office work, at least partially. The survey revealed that employees working in a hybrid or office setting received a 6% salary increase over the past year. Conversely, 20% of remote workers saw no changes in their pay, while 45% received salary increases of less than 5%.
Geographical location also plays a role in determining CISO salaries. California topped the list for highest earnings, with CISOs in the region often receiving compensation in the form of stock options, attributed to the active startup culture on the west coast. The northeast region claimed the second spot in terms of earnings, while the southeast region led by financial and biotechnological clusters in North Carolina and Texas also showed competitive salary levels. In Canada, CISO salaries were comparatively lower, but were balanced by the availability of a strong healthcare system.
This rise in CISO salaries