CYBERSECURITY JOB HUNTING GUIDE
Can you afford Cybersecurity?
Author: Stefan Waldvogel
Editor: Shana Wejuli -reserved-
Editor: Shana Wejuli -reserved-
Financial advice or is it smart to pay for this career?
People in the US have one of the world's highest salaries with the lowest cost. The other side is that Americans have one of the world's highest debts. Many times, you see something like this:
Entry-level jobs in Cybersecurity pay little because so many are going into this field. If you go into the field with little transferable knowledge, expect a $50K salary. Some get a higher salary, but you have to calculate with the most realistic number, including a buffer.
After-tax, you might have $41K left. This amount is equal to $3,400 per month.
Can you afford it?
In Cybersecurity, in 5 years, your salary is maybe $80K- $120K, but you do not have a guarantee.
The biggest advice:
Reduce your running costs as much as you can! Think about a car, a mobile phone, the internet, etc.
One example:
Do you need a $54K car? Let us say it is a PickUp. How often do you need the additional space to move something around? Once a year? Buying a small cheap car and rent a PickUp for a day is much more affordable, or you can ask friends. A brand new Korean vehicle comes with six years warranty, and if you negotiate the price, it is under $17K, and you might get a used car (1 to 2 years old) a lot cheaper, and Asian cars are famous for their reliability. You can save more because the insurance and the gas are much more affordable, too. You spend $25 for 500 miles in gas with such a car. Think about the long-term costs.
Think about it:
If you earn $50K in the US, you have more available money than most people on earth with the lowest costs of living (1st world countries) and the lowest tax rates.
Be smart:
If you buy a course or a certification, think about its costs and benefits. Never, ever use "sales data" for your evaluation because a salesperson does not give all the data you need. Look for solid numbers like job offers and find the adverse facts and the risks. Compare the prices for things you want and never buy expensive items on the same day.
Educate your kids:
The US system is weird, and people do not manage their money smartly. If you have kids, teach them about the US way, your mistakes, the consequence, and how it should work. The public school system does not teach these things, but it is crucial. Where is Germany? That is entirely unimportant compared to solid lessons about being smart with money.
- Car $54,000 ($723 per month)
- House $256,000 ($1440 per month)
- Student Loans $70,000
- Credit Cards $45,000
- Personal Loan $27,000
Entry-level jobs in Cybersecurity pay little because so many are going into this field. If you go into the field with little transferable knowledge, expect a $50K salary. Some get a higher salary, but you have to calculate with the most realistic number, including a buffer.
After-tax, you might have $41K left. This amount is equal to $3,400 per month.
Can you afford it?
In Cybersecurity, in 5 years, your salary is maybe $80K- $120K, but you do not have a guarantee.
The biggest advice:
Reduce your running costs as much as you can! Think about a car, a mobile phone, the internet, etc.
One example:
Do you need a $54K car? Let us say it is a PickUp. How often do you need the additional space to move something around? Once a year? Buying a small cheap car and rent a PickUp for a day is much more affordable, or you can ask friends. A brand new Korean vehicle comes with six years warranty, and if you negotiate the price, it is under $17K, and you might get a used car (1 to 2 years old) a lot cheaper, and Asian cars are famous for their reliability. You can save more because the insurance and the gas are much more affordable, too. You spend $25 for 500 miles in gas with such a car. Think about the long-term costs.
Think about it:
If you earn $50K in the US, you have more available money than most people on earth with the lowest costs of living (1st world countries) and the lowest tax rates.
Be smart:
If you buy a course or a certification, think about its costs and benefits. Never, ever use "sales data" for your evaluation because a salesperson does not give all the data you need. Look for solid numbers like job offers and find the adverse facts and the risks. Compare the prices for things you want and never buy expensive items on the same day.
Educate your kids:
The US system is weird, and people do not manage their money smartly. If you have kids, teach them about the US way, your mistakes, the consequence, and how it should work. The public school system does not teach these things, but it is crucial. Where is Germany? That is entirely unimportant compared to solid lessons about being smart with money.
© 2021. This work is licensed under a CC BY-SA 4.0 license