How Much do Cyber Security & Information Security Specialists Earn in Malaysia?
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The increasing threat of cyber security has created huge demand for security experts who can safeguard the IT systems of organisations against malicious cyber-attacks. Cyber security professionals will be highly sought after across a number of industries, especially in the banking sector in Malaysia. Senior Managers can earn between RM17,000 to RM20,500 a month!
Salary is one of the important factors for students when choosing the right course to study. After all, the aim of studying is to get a job and the aim of a job is to attain salary that can sustain your future lifestyle and take care of your family. Therefore, in helping students to make this very important decision, EduSpiral Consultant Services has compiled the salary for Cyber Security & Information Security Specialists in Malaysia from various reputable human resource recruitment firms for you to have an idea of the future salary.
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Global Demand for Cyber Security Specialists
Philip Sim, Information Technology (IT) graduate from Asia Pacific University (APU)
In 2015, Frost & Sullivan forecasted a 1.5 million shortage of talents in information security worldwide by 2020. In light of recent events and shifting industry dynamics, that forecast has been revised to a 1.8 million talent shortage by 2022.
These findings were reported despite security spending increases across the board for technology, personnel and training; rising average annual salaries; high rates of job satisfaction and low rates of change to employment status. [Source: 2017 Global Information Security Workforce Study]
According to Kaspersky, research suggests the global industry is struggling to fill 2.9 million cybersecurity jobs, while demand for cybersecurity professionals is rising across all sectors. In their 2019 survey, one in three Chief Information Security Officers (CISOs) say they find it hard to recruit the cybersecurity people they need.
In Malaysia, demands and applications of information technology (IT) are everywhere and have created a lot of opportunities for IT professionals in all fields. According to the Asia Job Index (AJI) by Robert Walters, the country has seen a 13% increase in job vacancies for technology experts. Moreover, the technology sector forecasts to see the highest demand in job vacancies and salary increase this year.
High Demand for Qualified & Trained Cyber Security & Information Security Specialists in Malaysia
The information technology (IT) industry is expected to face a shortage of between 7,000 and 15,000 professionals, as Malaysia rides the wave of the growing digital economy. The industry is currently in need of specialised workers in various IT fields. By 2025, the IT industry will require one million specialised working professionals as the industry is experiencing a rampant growth.
According to a Frost and Sullivan survey, the demand for cybersecurity-related jobs would hit 10,500 by 2020. Malaysia Digital Economy Corporation (MDEC) shares that Malaysia is one of the best ranking countries in the Asean region based on potential in the cyber-security industry.
Malaysia Digital Economy Corporation chief executive officer Datuk Yasmin Mahmood said it was forecasted that by 2020, the industry would see a talent gap of about 6,000 given its current trajectory.
Additionally, Malaysia Digital Economy Corporation (MDEC) has teamed up with global technology and information security association ISACA to address the shortage of cyber security professionals in our country. Cybersecurity strategists, cyber troopers and cyber warfare analysts are in demand in the market.
The partnership between the two oganisations was formalised in September 2017 and is aimed at improving competencies and workforce skills in cyber security. There are currently 6,300 cyber security professionals in Malaysia and a target has been set to provide 10,000 professionals by 2020.
Cybersecurity concerns, and corresponding countermeasures, will also likely be a major investment theme as major cyber-attacks continually made making headlines. Candidates who are skilled in OpenSource, DevOps or cyber security are limited in number but essential to digital development plans, so they will be highly sought after.
With so much data that needs to be protected from theft or damage, governments and businesses need trained professionals in Computer Security or Cyber Security to ensure sufficient protection
The increasing threat of cyber security has created huge demand for security experts who can safeguard the IT systems of organisations against malicious cyber-attacks. Organisations need such professionals to safeguard their IT operations.
Regulators in Malaysia have been increasing their requirements in the areas of technology risk and cyber security. As a result, technology governance is starting to become an independent function in every organisation, particularly within financial institutions. Hiring for positions like CISO (chief information security officer), IT security risk professionals and IT audit analytics will surge significantly in the coming quarter to not just enforce regulations but also assist in technology implementations.
Cyber resilience is another area that is rapidly gaining recognition in overcoming ‘smart’ attacks and cyber-crime. Detection and training against these threats has become an everyday subject along with adopting data analytics to perform audit works for the third line of defence. The ideal candidate for such roles would be adept at using large data sets to find opportunities for reducing risk, detecting fraud, optimising cost and operations efficiency and using models to test the effectiveness of different courses of action
Most information security analysts work for computer companies, consulting firms, or business and financial companies. Most information security analyst positions require a bachelor’s degree in a computer-related field. Demand for information security analysts is expected to be very high, as these analysts will be needed to create innovative solutions to prevent hackers from stealing critical information or causing problems for computer networks.
What is Cyber Security?
Mak, Ong & Chaw – Diploma in Information Technology (IT) at Multimedia University (MMU)
Cybersecurity is the body of technologies, preventative techniques, processes and practices designed to protect networks, computers, programs and data from attack, damage or unauthorized access.
Cybersecurity involves protecting information and systems from major cyberthreats, such as cyber crime, cyber terrorism, cyber warfare, and cyber espionage. In their most disruptive form, cyberthreats take aim at secret, political, military, or infrastructural assets of a nation or its people at companies and businesses.
Cyber Security is an important and growing area of work for computing professionals. Any organisation that has a computer network or uses the Internet has a potential security risk and will need people with specialised skills to help protect their systems and data.
Computer systems store, process and communicate a wide variety of data. Much of this data is private and improper access to it can result in significant costs to an organisation or the person that owns the data. Securing computer systems against malicious attack or even against inadvertent damage is vital to any computer system.
How to Have a Successful Career in Cyber Security & Information Security in Malaysia?
Vincent Lim, Software Engineering Graduate, Asia Pacific University (APU)
Graduate employability has also become a concern for Malaysia. Employers recognise the concerns on graduate’s skills gap, such as the lack of industrial training experience and communication skills.
Hence, just choosing the right course doesn’t necessarily ensure a successful future.
Students need to choose the best university that will prepare and equip you with technological know-how as well as the soft skills to enter the job market and move up. EduSpiral has helped thousands of students in choosing their course and university through personalised counseling supported by facts & evidence. WhatsApp 01111408838 to find out how we can help you.
Salary Reports for Software Engineers & Programmers in Malaysia
As it can be seen above, Cybersecurity ICT professionals can command higher than the average monthly salary of their respective job categories.
Why are the salaries so high? One explanation is that there is a critical shortage of specialised cybersecurity professionals worldwide who are able to protect organisations from sophisticated online attacks.
In Malaysia, the Malaysia Digital Economy Corporation (MDEC) has teamed up with global technology and information security association ISACA to address the shortage of cyber security professionals in our country. There are currently 6,300 cyber security professionals in Malaysia and a target has been set to provide 10,000 professionals by 2020.
Cybersecurity concerns, and corresponding countermeasures, will also likely be a major investment theme as major cyber-attacks continually made making headlines. Candidates who are skilled in OpenSource, DevOps or cyber security are limited in number but essential to digital development plans, so they will be highly sought after.
Fresh graduates would be interested to find out that the average monthly salary of the top five paying cybersecurity jobs for the Entry Level category ranged from RM2,500 to RM3,400 in 2017. Security Analyst (e-security) was the position with the highest average monthly salary at RM3,400, followed by Network Security Engineer (RM3,000), Security Operator (2,750), Security Engineer (RM2,650), and Security Analyst at RM2,500.
Randstad 2020 Market Outlook & Salary Snapshot
Randstad 2020 Market Outlook & Salary Snapshot reports that a cybersecurity engineer with 5 – 8 years experience earns RM8,000 – RM15,000 monthly.
Professionals who have prior experience in cybersecurity, either from agencies or with portfolios in banks and FIs, will be highly in demand in 2020. When it comes to fintech and banktech, Randstad’s report points out that an area with exceptionally high talent demand is cybersecurity. Citing Frost & Sullivan reports, the potential economic loss from cyberthreats can be estimated at a hefty US$12.2 billion (RM50.4 billion), which is more than 4% of the total GDP (US$296 billion).
“Professionals who have prior experience in cybersecurity, either from agencies or with portfolios in banks and FIs, will be highly in demand in 2020,” the report continues.
It adds that fintech firms and banktech teams are focused on building their capabilities in machine learning and artificial intelligence (ML/AI), as well as robotics process automation (RPA). According to a Forrester report, the global RPA market will increase to US$2.9 billion (RM11.9 billion) by 2021, from US$250 million in 2016 (a 1,160% jump).
Michael Page Salary Benchmark 2020
Michael Page Salary Benchmark 2020 reports that an IT Security Engineer in the Technology & Telecommunications Sector earns from RM72,000 to RM108,000 a year while a Senior IT Security Specialist is expected to earn RM108,000 to RM144,000. A Chief Technology Officer (CTO) can earn from RM245,000 to RM450,000.
Robert Walters Salary Survey 2020 Malaysia
Robert Walters Salary Survey 2020 Malaysia – Kuala Lumpur (Salaries are yearly in ‘000 RM)
- Chief Information Security Officer 360 – 540k
- Business Information Security Officer 216 – 300k
- Security Manager 144 – 228k
- Security Governance 96 – 168k
- Security Specialist 72 – 144k
- Penetration Tester 72 – 156k
- IT Audit Manager 102 – 204k
- IT Risk Manager 120 – 240k
According to Robert Walters Salary Survey 2018, a Cyber Security Engineer earns RM102,000 – RM270,000 a year
2020 Hays Salary Guide Malaysia
2020 Hays Salary Guide Malaysia – Digital Technology – CYBERSECURITY (Salaries are yearly in ‘000 RM)
- Digital Forensics (EnCase/Blacklight/Wireshark) 180 – 360
- Incident Respond Specialist (EnCase/Blacklight/Wireshark) 168 – 300
- Cybersecurity Consultant (EnCase/Blacklight/Wireshark) 216 – 300
- Malware Reverse Engineer (EnCase/Blacklight/Wireshark) 240 – 360
- Digital Forensics (Blackduck) 240 – 360
- Incident Respond Specialist (Blackduck) 168 -300
- Cybersecurity Consultant (Blackduck) 216 – 300
- Malware Reverse Engineer (Blackduck) 240 – 360
Kelly Services 2018/2019 Salary Guide
According to Kelly Services 2018/2019 Salary Guide a Security Analyst with 3-5 years experience earns an average salary of RM5,200 – RM8,500 a month while an IT Manager is RM6,200 to RM8,500. A Lead Software Developer earns from RM9,800 to RM16,000 while the Software Development Manager is RM14,000 to RM23,000. The Chief Information Officer commands a salary range from RM25,000 to RM42,000 a month.
PIKOM Salary Report 2018,
As online security threats become more menacing and damaging to organisations, there is a great need for qualified and skilled professionals to help manage the risks and prevent future attacks.
For the first time in this report, PIKOM is focusing on job trends in the cybersecurity in Malaysia. This comes on the heels of the PIKOM Cybersecurity Chapter formed last year, which will play an advisory role to the government on policy formation.
The Chapter will also engage with academicians and other stakeholders on talent issues and promote career prospects in the industry. In this respect, we will explore further on the top paying jobs in each of the five job categories for 2017, as advertised by the 22 industries tracked in this report.
Entry Level Category
The average monthly salary of the top five paying cybersecurity jobs for this category ranged from RM2,500 to RM3,400 in 2017. Security Analyst
(e-security) was the position with the highest average monthly salary at RM3,400, followed by Network Security Engineer (RM3,000), Security Operator (2,750), Security Engineer (RM2,650), and Security Analyst at RM2,500 (Table 13).
Junior Executive Category
The average monthly salary in this category in 2017 was from RM6,000 to RM6,500. The range was much higher than the overall average monthly salary
for Junior Executive ICT professionals of RM4,259 earlier in this section (Chart 3).
The positions, Application Security Requirements Engineer and Application Security Specialist, were both offered an average monthly salary of RM6,500 in 2017 while a lead Cyber Security Consultant could earn as much as RM6,000 (Table 14).
Senior Executive Category
Two positions, Security System Engineer and ITSecurity Incident Response Analyst, commanded an average monthly salary of RM15,000 to RM15,500
respectively, which is more than double the overall average monthly salary of ICT professionals in this category (Chart 4) at RM7,057. The average monthly salary of the three remaining top jobs in this category ranged from RM10,500 to RM12,500 (Table 15).
Table 13: Top Paying Entry Level Cyber Security Jobs
- Security Analyst (e-Security) Average Monthly Salary RM3,400
- Network Security Engineer Average Monthly Salary RM3,000
- Security Operator Average Monthly Salary RM2,750
- Security Engineer Average Monthly Salary RM2,650
- Security Analyst Position Average Monthly Salary RM2,500
Source: Jobstreet.com and PIKOM Estimates
Table 14: Top Paying Junior Executive Level Cyber Security Jobs
- Application Security Requirements Engineer Average Monthly Salary RM6,500
- Application Security Specialist Average Monthly Salary RM6,500
- Application Security Specialist – Business Analyst Background Average Monthly Salary RM6,500
- Cyber Security Staff / IT Security Average Monthly Salary RM6,000
- Lead Cyber Security Consultant (Secondment) Average Monthly Salary RM6,000
Source: Jobstreet.com and PIKOM Estimates
Manager Level Category
The top paying position in this category in 2017 was Cyber Security Consultant with an average monthly salary of RM17,500. The average monthly salary
of the Security Incident Manager (with a focus on Forensics) was RM14,500 while Security Architects were offered an average monthly salary of between
RM12,500 to RM13,500. A Cyber Security Manager in 2017 was offered an average monthly salary of
RM11,000 (Table 16).
Senior Manager Level Category
The top paying position in this category was an IT Operations Security Senior Manager with an average monthly salary of RM20,500, also higher than the
overall average monthly salary of RM19,147 (Chart 6). The other top paying cybersecurity jobs in this category were Information Security Architect
(RM17,500), Cybersecurity Senior Manager (RM17,000), Business Information Security Officer (RM15,225) and Senior Manager for IT Security and Infrastructure (RM13,000) (Table 17).
