IT security experts hit by recession

More information security professionals are out of work, while number of job vacancies plummets, says research

IT security - less job security

IT security experts are the latest to suffer during the recession as new research suggests a 17 per cent increase in the number of professionals looking for work.

The study by recruitment firm Barclay Simpson also shows that the number of vacancies for information security jobs has fallen by 57 per cent in the same period.
Senior professionals have been the hardest hit, says the report.

“As business conditions force many companies to downsize existing teams or even undertake mergers to survive, the effects of cost cutting and headcount reduction has disproportionally affected senior and managerial positions,” it says.

“Junior roles are less affected, and practitioners at this level appear to be holding on to their current roles, reluctant to enter an unstable recruitment market or to risk moving to a new company.”

Salaries for IT security experts have also stalled, rising just four per cent on average in the first six months of this year.

Typical wages range from up to £130,000 per year for a head of information security based in London, to £30,000 for a security analyst.

“Information security, despite its current high profile, has not been protected from corporate cost cutting. In the first half of 2009, redundancy levels were high and while many departments have vacancies few have permission to recruit,” said Mark Ampleford, head of Barclay Simpson’s information security division.

But the recruitment company predicts that the worst may be over for IT security professionals – although not for everyone.

“There are tentative signs of improvement. While the market remains depressed, the widespread recruitment freeze in banking and financial services is starting to lift. There is a limited increase in activity from companies in the consulting, systems integration and telco sectors,” says the report.

“Whatever happens to demand, it is likely that there will be further redundancies as the corporate sector consolidates and any rebound in the economy will take time to filter through to employment.”