Ah, a topic that hits dear to my heart! This is a bit long... We have experienced a drop in info sec business in the past two months, primarily due to the market, but I suspect it's only temporary. Wall Street analysts are saying that the down market should last only through the second quarter, and will pick up again in the third quarter. I'm already starting to see some activity pick up again. As for the job market, I've noticed that hiring hasn't frozen, but it has slowed a bit. If anything, the level of salaries being offered have come down a bit, but if you're resilient enough (and worth the money you think you are), you'll eventually get what you want. If you're an independent contractor, you're in luck - I'm seeing more of a demand for them than before. I see direct evidence from speaking with hiring managers that consultants will play a much bigger role in corporate security, and it's already begun. Thank God! I think you'll definitely see consolidation in the marketplace. Pure-play security product vendors, with some obvious exceptions, can't last on their own if they sell nothing but product. Wall Street values services over product, and assigns a higher multiple to a company's valuation. Therefore, product vendors will either have to have the next best thing that everyone needs and wants, enter the security services market (which is growing very quickly), or consolidate with a company with higher margins (among other factors). Keep in mind that security products don't solve security problems, but people (processes, procedures, policies, audits, etc.) do. Security services will always be needed. ISS is a great example of the need to adopt a professional services component to remain competitive. I'd recommend that if you're looking to change jobs, stay where you are for a bit longer and do your homework thoroughly. That means more than looking at the job sites (Monster, etc.). Talk to consultants (independent and company), read the relevant magazines (CIO, ComputerWorld, etc.), and speak to reputable headhunters (there really are a few out there). If you're considering a particular company, read their financials (10K, 10Q, etc.), which should be posted on their Web site (or linked to from their Web site). Treat a new job opportunity as you would a contractor. Make sure you interview them as much as you're interviewed. Florindo -----Original Message----- From: Pete Patamis To: SECURITYJOBSat_private Sent: 5/1/2001 9:53 PM Subject: Changes to the Info Sec Marketplace ?? Last week there was bad news about pilot.net going under and I've recently heard news/rumor about troubles (and maybe big cuts) at Salinas and some of the big accounting firms' info sec practices. Curious to hear some opinions - is this a symptom of a general economic downturn in the tech sector or do you think the info sec industry is starting to undergo some consolidation? Do you think some of the newer publically-traded or investor-backed info sec firms are under more pressure? And do you think the cuts/troubles are a symptom that big business is freezing spending on security until the stock market improves? I think these topics are important to us who are considering job/career changes... Pete
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