How Much Money Do Hackers Make? You Might Be Surprised!

When you hear the word hacker, what do you think of? A cyber criminal breaking into bank accounts to steal all the money? An IT technician fixing someone’s computer who happens to have extra time on his hands? Or someone who can’t help but look at any and all programming code to see how it works? For some people, all three of these ideas fit into their idea of a hacker; but for others, there may be only one idea that comes to mind when thinking about hacking and hackers—especially those who haven’t spent much time learning about coding and computers.

An Overview of the Hacking Industry

Hackers aren’t all bad. In fact, they can be considered good guys who do bad things in some cases. But before we explore how much money hackers make, let’s take a look at their place in our world. Most of the time, people's personal information is stolen by these types of malicious software (malware) programs and then used to gain access to various accounts such as bank accounts and social media platforms. Cybercriminals then use that information to steal your identity or drain your bank account. Hacking is also used for more nefarious purposes such as data theft from governments and corporations with the intent of obtaining classified information that could be used for blackmail or extortion.

Where They Work

According to a report by Cybersecurity Ventures, an organization based in Silicon Valley that tracks cybersecurity trends, there are currently 12 million people working in some aspect of cybersecurity. Of those 12 million, only 400,000 work in what’s known as a defence; that is, actively protecting computer systems and networks. The rest make their money through offence—as hackers who break into computer systems and steal data or extort companies for money.

What They’re Good At

One thing that hackers have to be good at is coding—specifically, ethical hacking. Ethical hackers need to know how to code and they need a lot of knowledge of how computer systems work. They need good problem-solving skills because most hacking involves going around security measures like firewalls and encryption programs. To do their job, they also need to know how businesses work and what their vulnerabilities are. Because hackers break into other people’s networks, companies pay them very well.

The Different Levels of Breaches

There are different levels of hacking—and, thus, different monetary values attached to them. Here’s a quick breakdown. •Hacking with no data breach: $500 

•Hacking with password access: $1,000 

•Hacking with intellectual property theft: $3,000 

•Full-scale hacking with a data breach: $8,000+

How Much They Earn

Different hackers with different skills make different amounts of money. Some earn just a few hundred dollars per job, while others make tens of thousands. According to Verizon's 2013 Data Breach Investigations Report, hackers earned an average of $247 per month in 2011 by engaging in various cybercriminal activities. However, that same report says that some highly skilled black hat hackers made as much as $23,000 per month or more.

To Hack Or Not to Hack

In recent years, hacking has been in the news a lot, and with that coverage comes a certain stigma. We’ve become accustomed to hearing about hackers who break into systems for malicious reasons (like for instance hacking bank accounts), but is there a place for ethical hackers in our society? The truth is that legitimate information security firms are constantly on the lookout for talented security professionals, but it can be tough to find these white hat hackers.

Influencing Factors in Their Career Choices

How much money do hackers make? That’s a difficult question to answer. There are so many different routes one can take to become a hacker and each choice has its own set of opportunities and pitfalls. The important thing is not where you start but how far you go when starting out—and even that’s up for debate.