October 12, 2023 at 07:39AM
CISO compensation levels are growing more slowly than in previous years, according to a survey by IANS Research and Artico Search. The average CISO total compensation increase was 11%, down from 14% the previous year. Additionally, 20% of CISOs did not receive a raise, double the previous year’s figure. The survey also found that retention and equity packages for CISOs have decreased. The survey suggests that these trends may lead to more CISOs seeking job changes, with 75% of respondents considering a job change in the next 12 months. The survey also highlights that security budgets have increased by 6%, following double-digit increases in 2020 and 2021. However, one-third of CISOs reported flat or declining security budgets year-over-year. This can have an impact on CISO compensation since a significant portion of security budgets are dedicated to staff compensation. The survey recommends that CISOs work on their marketability to position themselves strongly with prospective employers. It is important to note that the survey does not cover all aspects of CISO compensation, such as differences between small and large firms or the relationship with additional responsibilities. The validity of surveys in general is also called into question, and SecurityWeek advises readers to consider talking to individual CISOs to gain a more accurate understanding of their roles and responsibilities.
Key takeaways from the meeting notes are as follows:
1. CISO compensation levels are growing more slowly than in previous years.
2. Security budget increases are even more deflated this year.
3. A survey conducted by IANS Research and Artico Search revealed that the average CISO total compensation increase was 11%, down from 14% in the previous year.
4. 20% of CISOs did not receive a raise, double that of the previous year.
5. Retention and equity packages were received by only 12% and 8% of CISOs respectively.
6. 75% of respondents in the survey said they are considering a job change in the next 12 months, indicating dissatisfaction with compensation.
7. The 2023 Security Budget Benchmark Report showed that security budgets have increased by 6% following double-digit increases in previous years, but more than one-third of CISOs reported flat or declining security budgets.
8. The tightening of security budgets is impacting CISO compensation.
9. CISOs are advised to work on their marketability by strengthening their personal brand, improving business acumen, and enhancing executive presence to position themselves strongly with prospective employers.
10. CISOs are facing the challenge of accomplishing more with less.
11. There are concerns about the validity of surveys, including the lack of coverage of compensation differences between small-firm and large-firm CISOs and the relationship with additional responsibilities.
12. Different CISO job descriptions may affect differences in compensation increases.
These takeaways provide insights into the current state of CISO compensation and the challenges faced by CISOs in the industry.