“Many organizations are hesitant to increase security budgets, and hiring has slowed,” Ryman explains. “In a more buoyant market, we would expect to see a high turnover rate due to frustrations with the role; however a number of executives are gritting their teeth and choosing to stay put, awaiting year-end bonuses and more opportunities in [the] job market.”

While some CISO positions at large organizations still offer impressive salaries, these roles are scarce. “Those who haven’t been exposed to some of the latest technologies or digital transformation projects will find it harder to secure new positions; upskilling and networking is key, as many CISO roles are filled through referrals or headhunting,” Ryman advised.

Professional growth opportunities

Benson Varghese, founder and managing partner of US law firm Varghese Summersett, said that companies are increasingly valuing stability in their cybersecurity leadership.