Education
Tech Troth Team , , , ,
CISSP Certification: What Is It? Requirements, Benefits, and Compensation

The Certified Information Systems Security Professional (CISSP) credential should be taken into consideration by IT security professionals who want to progress in their professions or learn more about cybersecurity. Businesses in all sectors must safeguard their confidential data from threats, which makes CISSP-certified experts an invaluable resource.

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Having a CISSP certification shows potential employers that you are an expert in managing a robust IT security team and safeguarding web-based information systems. Continue reading to find out all you should know to become certified as a CISSP.

Who Needs to Become Certified as a CISSP?

If you’re an early-career IT security expert, you might be tempted to work in entry-level cybersecurity employment for a short while after earning your bachelor degree and then immediately begin the CISSP certification process. Nevertheless, there are requirements you must fulfill in order to be eligible to become a CISSP.

The Body of Knowledge (CBK), which contains almost all of the knowledge a seasoned cybersecurity expert should possess, was also developed by (ISC)2. The eight core domains listed by the CBK include software development security and asset security. Your prior job experience must have been in one or more of these eight fields in order to become a CISSP.

Obtaining CISSP certification is a difficult undertaking. Time, effort, and money must be invested in obtaining this certification, from passing the test to paying annual fees. However, one of the most popular cybersecurity qualifications that businesses want is the CISSP certification.

No matter what your career goals are—chief information officer or independent security consultant—having a clear understanding of your “why” can keep you motivated while you pursue CISSP certification.

Candidates must have either completed five years of full-time employment or four years of employment plus an undergraduate degree (such as a bachelor’s degree in cybersecurity) or another recognized certificate, according to (ISC)², the organization that administers the CISSP certification.

CISSP Certification Advantages

One of the most prestigious certifications for IT and cybersecurity specialists is the CISSP. Possessing this certification can help you get better jobs, earn more money, and stay up to date on industry developments.

Raise Your Prospect of Earning

Pay for those with CISSP certification varies depending on their position and region. According to Payscale, these workers in North America make an average of $128,000 annually.

Those with CISSP certification rank among the highest paid IT specialists in the business. This is due to the fact that CISSP certification is globally recognized and companies are aware of the demanding training needed to obtain it.

Develop Into a More Competitive Job Seeker

A cybersecurity resume that highlights your CISSP certification tells recruiters and companies that you are one of the best applicants in the field of information security. Additionally, having at least four or five years of practical experience is guaranteed by this degree.

In order to pursue positions outside of their present firms, several professionals intend to get certification. According to (ISC)2’s 2023 workforce research, 17% of participants sought qualifications in order to secure a job with a different organization, and 15% thought that certification would help them advance in their careers.

Develop Cybersecurity Knowledge

Gaining a thorough understanding of all pertinent cybersecurity material is a necessary step in the CISSP certification process, which is required to pass the test and keep certification current.

CISSPs need to accrue a certain amount of continuing education credits in order to obtain their certification. By ensuring that CISSPs have up-to-date, applicable abilities, continuing education contributes to the development of competence.

The workforce research participants from (ISC)2 revealed that their teams are aware of the following advantages of hiring cybersecurity experts with certifications such as the CISSP.

These employees are more knowledgeable about important cybersecurity subjects.

The trust of certified personnel in their teams’ capacity to manage security concerns is increased.

Employing experts with cybersecurity certificates guarantees that information security trends are up to date and that they are practicing them.

Organizations may acquire top-tier employees with proven cybersecurity competence thanks to certification.

Connect with Additional CISSPs

It is mandatory for all CISSPs to become (ISC)2 members, which opens up networking possibilities. (ISC)2 has over 168,000 cybersecurity experts as members.

How Much Demand Is There Right Now for Cybersecurity Experts?

Cyberattacks and data breaches rose by 41.5% in 2022 compared to 2021. The increase in cyberattacks targeting businesses of all stripes emphasizes the shortage of qualified cybersecurity specialists as well as the necessity for them.

According to the (ISC)2 workforce report, 67% of cybersecurity professionals believe that a lack of qualified candidates is endangering their firms, despite the field’s growing popularity. By 2023, there will be 3.9 million fewer cybersecurity workers worldwide, according to (ISC)2.

The fact that the majority of cybersecurity jobs require certifications like the CISSP is one possible explanation for this labor shortage. It takes a lot of time and effort to become certified, which makes closing this employment gap more difficult. Malicious actors’ use of technology is advancing faster than the rate at which IT and cybersecurity specialists are hired and acquire the skills required to protect data from these kinds of attacks.

The Demand for CISSPs

Because of their extensive knowledge, capacity to protect against data breaches, and ability to enhance security procedures, CISSP specialists are highly sought after across sectors.

Out of all the cybersecurity job vacancies that need certification, CyberSeek reports that the biggest demand is for CISSP credentials. More than 85,000 cybersecurity job postings as of December 2023 ask for CISSP certification.

Finance
Tech Troth Team , , , , , ,
Definition, Purpose, Legal Framework, and Compensation for Forex Brokers

What Is a Forex Broker?

A forex broker is a financial services company who provides traders with a platform to purchase and sell foreign currencies.

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Forex stands for foreign exchange. Deals in the foreign exchange market are almost always between two different currencies.

A forex broker is sometimes known as a retail forex broker or a currency trading broker.

Comprehension of the Forex Dealer

The foreign exchange market is a global, 24/7 industry by necessity.

Among a forex broker’s clientele are retail currency traders who use these platforms to make predictions about the movement of currencies. Among their clientele are large financial services firms that trade on behalf of other clients as well as investment banks.

One forex broker organization cannot handle the volume of the whole foreign exchange market.

The Job of a Forex Broker

The G10 group of ten nations’ currencies are used in the bulk of foreign exchange operations. The nations and their corresponding currencies are the US dollar (USD), the euro (EUR), the pound sterling (GBP), the Japanese yen (JPY), the Australian dollar (AUD), the New Zealand dollar (NZD), the Canadian dollar (CAD), and the Swiss franc (CHF).

Most brokers allow their customers to exchange foreign currencies, especially those from developing countries.

Using a forex broker, a trader buys a currency pair to begin the transaction, and then sell the same pair to finish it. To convert euros into US dollars, for example, a trader buys the EUR/USD pair. It’s the same as swapping US dollars for euros.

To close the deal, the trader sells the pair, which is equivalent to spending euros to buy US dollars.

When a trade is completed at a higher exchange rate, the trader benefits. If not, the trader loses money.

Opening a Forex Account

These days, opening an account to trade FX online is rather simple. Before permitting trading, the forex broker will need a collateral deposit of money into the new account.

Brokers also give their customers leverage, which allows them to trade more amounts than what they have on deposit. Depending on the trader’s country of origin, leverage can be anywhere from 30 to 400 times the amount accessible in the trading account.

The Forex Brokers’ Revenue Model

Forex brokers are compensated in two ways. The bid-ask spread of a currency pair is the first method.

For example, the Euro-US dollar pair has a spread of 1.20010 and 1.20022, or 1.2 pip, between the ask and bid prices. When a retail client opens a transaction at the ask price and closes it at the bid price, the forex broker is paid the spread.

Second, certain brokers charge additional fees. Some charge consumers for each transaction, special trading products like exotic options, or access to certain software interfaces.

The forex broker market is quite competitive right now, and most businesses find that they have to reduce expenses as much as possible to attract retail customers. Several now provide free or extremely cheap trading charges in addition to the spread.

Some forex brokers also make money from their own trading ventures. This may be problematic if their trading puts them in a conflict of interest with their clients. Regulations have placed restrictions on this technique.

Regulation of Forex Brokers

The industry is governed by the Commodities Futures Trading Commission (CFTC) and the National Futures Association (NFA).

To learn more about the different brokers, anybody considering opening a forex account should check out the NFA website or the broker evaluations on Investopedia.

Services
Tech Troth Team , , , , ,
Workers’ Compensation: Definition, Operation, and Payment Source

Workers’ Compensation: What Is It?

Often known as “workers’ comp,” workers’ compensation is a government-mandated program that pays benefits to employees who are hurt on the job or develop an illness as a result of their work. In essence, it’s a workers’ disability insurance policy that pays out cash benefits, healthcare benefits, or both to employees who are sick or injured at work.

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In the US, the individual states are mostly in charge of workers’ compensation. States have somewhat different requirements for benefits.

The only state that exempts companies from having to keep workers’ compensation insurance is Texas.

Comprehending Workers’ Compensation

One of the benefits of workers’ compensation might be a partial salary replacement for the time the employee was unable to work. Occupational therapy and medical service reimbursement may also be included in the benefits.

Private insurers fund the majority of workers’ compensation systems with premiums that each individual employer pays. A Workers’ Compensation Board is a state organization that manages the program and resolves disputes in each state.

government personnel, longshore and harbor workers, and energy employees are all covered by government workers’ compensation systems. Benefits for coal miners and their family in case of death or disability are managed by the Black Lung agency, another government agency.2. The Department of Labor, U.S. “Compensation for Workers.”

Benefits from Workers’ Compensation

States have different requirements for workers’ compensation, and some do not cover all employees. For instance, small enterprises are exempt from the requirement to be covered in several states. Others have distinct needs depending on the industry. A list of every state’s worker compensation laws is kept up to date by the National Federation of Independent Business (NFIB).3.

Replacement of Salary

Under workers’ compensation, an employee usually receives a wage replacement that is less than their entire income. The most generous plans cover around two-thirds of an individual’s gross compensation.

Benefits from workers’ compensation are typically fully compensated for lost wages since they are not subject to federal or state taxes. Recipients who additionally receive income from the Supplemental Security Income or Social Security Disability programs may be required to pay taxes.

Survivor Benefits and Reimbursement for Medical Expenses

The majority of compensation plans only cover medical costs for accidents that are directly connected to work-related ailments. For instance, a construction worker may be eligible to receive benefits in the event of a fall from scaffolding, but not for harm sustained while traveling to the working site.

Employees on medical leave may also be eligible to receive sick pay comparable to what they would in other circumstances. Workers’ compensation pays benefits to the worker’s dependents in the event of an employee’s death resulting from an incident at work.

Recipients Abandon Suit Rights

Employees forfeit their ability to bring negligence claims against their employers when they consent to accept workers’ compensation.

The goal of this pay agreement is to safeguard both employers and employees. In return for guaranteed compensation, workers give up further rights, and employers accept some culpability in order to avoid the possibly higher costs of a negligence action.

Particular Points to Remember

An employer may contest a workers’ compensation claim. The matter can then be brought to the Workers’ Compensation Board for resolution.

Conflicts may emerge over the employer’s real liability for a disease or harm.

Insurance fraud can potentially affect payments made to workers’ compensation recipients. An employee could fabricate an injury, inflate the severity of an ailment, or declare fraudulently that they were hurt at work.

Indeed, according to the National Insurance Crime Board, medical insurance companies are the target of fraudulent claims made by “organized criminal conspiracies of crooked physicians, attorneys, and patients” for workers’ compensation and other benefits.

An exception for independent contractors

Independent contractors are not entitled to workers’ compensation in the majority of states; only regular employees are. That was one of the key points of disagreement in the discussion surrounding a ballot initiative in California that aimed to provide drivers for ride-sharing services like Uber and Lyft access to employee benefits.

Employee benefits and workers’ compensation are persistent issues, much like the so-called gig economy. About 17 million Americans worked as contractors full-time in 2020, while over 34 million did so part-time or sometimes.

Workers’ Compensation Types

The several states in the United States are in charge of workers’ compensation regulations. The Office of Workers’ Compensation Programs under the U.S. Department of Labor is in charge of covering workers who work for the federal government, longshoremen and harbor workers, energy companies, and coal miners.8

States have very different regulations for the same types of injuries since there are no federal standards for workers’ compensation.

Depending on where a worker lives, they may be eligible for drastically different types of compensation for identical injuries. In a report, the Occupational Safety and Health Administration (OSHA) estimates that 50% of the expenses associated with occupational illness and injuries are carried by the persons who suffer from them, categorically labeling workers’ compensation as a “broken system.” Workers with low incomes and immigrants frequently don’t even apply for assistance.