New research has found that cyber security jobs now make up 14% of all new UK based IT roles, as businesses increase their investment in cyber security following a series of recent high profile hacks.
The increase in demand for cyber security experts has resulted in a rise in wages, with 15% of professionals paid around £100,000 a year.
Professional services consultancy Procorre found that out of 10,210 IT vacancies in the UK, 1,420 are in cyber security. This has forced UK universities to offer specialist degrees relating to cyber security.
42 universities are offering specialist degrees related to cyber security at an undergraduate level and over 700 cyber security related degrees are now available at a postgraduate level.
Universities like Oxford, Warwick, University College London, and Royal Holloway are offering Master of Science degrees in areas including cyber security management, software and systems security, and information security.
UK businesses are also concerned with possible fines from the Information Commissioner’s Office (ICO) for potential data breaches and the tightening of the EU data protection regime.
The UK’s ICO can currently fine a maximum of £500,000 for any data breach. The new European Data Protection Directive, scheduled to be implemented by the end of this year, will require mandatory notification of data breaches. It was not needed under the existing system.
The move raises awareness amongst individuals who have had their data stolen through a business’s database and results in higher fines from the regulator.
The European Parliament is debating on fines of about €100m or 5% of worldwide revenue.