Page 5 - Cybersecurity Career Guide for UT Austin

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CYBERSECURITY CAREER GUIDE
Protecting the
Electrical Infrastructure
Having weathered countless cyberattacks, including the
breaches that targeted SolarWinds and Microsoft Exchange
software in early 2021, the country’s electrical infrastructure is
increasingly at risk, says Energy Secretary Jennifer Granholm.
“The U.S. faces a well-documented and increasing cyber threat
from malicious actors seeking to disrupt the electricity Ameri-
cans rely on to power our homes and businesses,” said the
secretary in a statement announcing a 100-day initiative
to strengthen the cybersecurity of critical infrastructure. “It’s
up to both government and industry to prevent possible harms.”
No need for masks, weapons, or demand notes. Bank robbers today
can often get inside financial institutions undetected. In fact, big
banks experience cyberattacks nearly every day, according to JPMor-
gan Chase Bank. The bandits use sophisticated malware to get deep
into the banks’ computer systems, allowing them access to private
customer data to potentially take out loans in a customer’s name
or commit other kinds of identity theft. For example, in a 2022 heist
at Flagstar Bank, which operates 150 branches across 28 states, the
names and Social Security details of over 1.5 million customers were
stolen. In response to the increase in cyberattacks — which bear an
average cost of $5.72 million per data breach — financial institu-
tions are dramatically increasing their security budgets. For example,
Bank of America’s CEO Brian Moynihan said it is now spending over
$1 billion yearly on cybersecurity. What’s more, 92 percent of ATMs
are vulnerable to hacks, according to a report by Positive Technolo-
gies. Cybersecurity for banks is definitely a growth industry.
ENTRY-LEVEL SALARY RANGE FOR THE CYBERSECURITY INDUSTRY:
Safeguarding Our Money
DATA SOURCE: CYBER SEEK
$85,000 - $106,000