India Inc ramps up cybersecurity workforce as data breaches hit record levels

As the world has become more digital, the threat of data breaches has undermined the trust of customers, regulators well, and investors. Recently, India's one of India's leading health insurers, Star Health, received a ransom demand of $68,000 from a cyberhacker in connection with a leak of customer data and medical records.

A Deloitte report on cybersecurity revealed that ransomware affected 63 percent of organizations in 2023. Additionally, the abuse of valid credentials accounted for 44.7% of data breaches.

Shantanu Rooj, Founder and CEO of TeamLease Edtech told Storyboard18 that over 90 percent of Indian organizations experienced data breaches last year.

Consequently, big brands have ramped up cybersecurity hiring to combat the growing risks of data theft.

Rikant Pittie, Co-Founder of travel company EaseMyTrip told Storyboard18 that they have implemented advanced encryption technologies and have an in-house tech team that continuously monitors and enhances security protocols.

"We are also fully committed to data privacy, understanding that the trust customers place in us is paramount. Data collected is only used to improve our service offerings, enabling us to craft personalized travel experiences," Pittie added.

According to Rooj, "The rise in breaches is driving demand not just for technical roles but also for compliance officers and risk management experts who ensure that organizations meet security standards. This increased focus is transforming the hiring landscape, with more companies allocating significant resources to build robust cybersecurity teams".

Global job matching and hiring platform, Indeed, revealed that cybersecurity job postings have increased by 14 percent in the past one year.

According to Navneet Singh, founder and CEO of AVSAR, over 50,000 cybersecurity jobs were created in India alone in the previous year due to the combined influence of startups and multinational companies (MNCs).

'Key skills and salary'

There is a wide range of job roles in the cybersecurity department, such as Security Operations Center (SOC) Analysts, Cloud Security Engineers, and Network Security Architects.

TeamLease Edtech CEO Rooj told Storyboard18 that freshers in cybersecurity can expect packages ranging from Rs 6 lakh to Rs 8 lakh per annum, while mid-level professionals earn between Rs 15 lakh to Rs 25 lakh. Senior roles in leadership or advanced technical fields can command upwards of Rs 40 lakh per annum, depending on the complexity and responsibility.

According to job platform Indeed, the average annual salary of a cybersecurity specialist is Rs 3.27 lakh, an IT security specialist earns Rs 6.90 lakh, a cybersecurity systems engineer makes Rs 8.33 lakh and a cybersecurity architect earns Rs 17.67 lakh.

Rooj said that some of the significant skills that cybersecurity experts are required to include network security, cloud security, threat intelligence, and incident management. Additionally, soft skills such as problem-solving and quick decision-making are essential in managing cyber threats effectively.

Other critical skills include, "Expertise in Threat Intelligence & Analysis, Zero-Trust security architecture, risk assessment, regulatory compliance, authentication technologies, secure access service edge (SASE), supply chain risk management, AI Systems Auditing, platform security, penetration testing, and vulnerability management are critical skills," according to Sandeep Rai Sharma, Lead – Security, Advanced Technology Centers in India, Accenture.

'Bengaluru recruits cyber experts'

Indeed data showed that Bengaluru-based organizations lead in recruiting cyber experts. India's IT hub accounted for nearly 10% of job listings since September 2023, followed by Delhi NCR (4%), Hyderabad, and Mumbai (2%), respectively.

Additionally, the Indeed report also observed a surge in 'remote' cybersecurity jobs. Many professionals are drawn to the comfort and flexibility these roles offer, allowing them to work from anywhere while maintaining a focus on security.

According to Singh, cybersecurity expertise is also in high demand in Gurugram, Pune, and Chennai. "There is a great need for cyber specialists in Gurugram, especially from the BFSI (Banking, Financial Services, and Insurance) industry, because of its close proximity to corporate headquarters," Singh added.

'Cyber jobs future'

According to a 2023 Accenture research report, 64 percent of cyber-resilient CEOs plan to increase investments in upskilling their cybersecurity workforce over the next three years.

AVSAR CEO Singh has projected a 20–30% yearly rise in cybersecurity-related hiring in the next three to five years. Singh attributes the job rise to relentless episodes of cyberattacks in organizations, corporate digital transformation initiatives, and the growing need for data protection.

Mrinmoy Dey, Chief Information Security Officer, Lendingkart said to prevent data breaches in the platform, they have implemented strong access controls and monitor data security controls, third-party risk management, periodic security awareness, etc".

Sudhakar Singh, Chief AI Security Officer, at SAP Labs India, mentioned the organization has taken a proactive stance against data breaches. "We have implemented advanced security measures such as AI-powered threat detection, secure development and cloud operations processes, and continuous security assessments. We also emphasize a culture of cybersecurity awareness through regular employee training programs and simulated attack scenarios to strengthen our defenses".