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Cybersecurity Pricing Guide March 2024

Updated November 17, 2023

Cybersecurity Pricing Guide 2024

Business leaders looking for advice on the best approach to cybersecurity pricing will find this guide invaluable. Our comprehensive guide is designed to help you make the most cost-effective decisions for your business.

Cyber attacks are a threat for any size business. While small businesses find themselves more prone to cybersecurity concerns, businesses with additional endpoints, increased remote working conditions, and an influx of digital transformation, are open to more security risks.

We understand that taking proper cybersecurity measures is costly, but investing in cybersecurity solutions can actually save you money in the event of an attack. IBM reports that the average cost of a data breach is around $4.45 million. It’s safe to say that your budget for cybersecurity will be much less than that.

Comprehensive cybersecurity services are important for businesses to ensure their data is safe from hackers and other threats. But where do companies begin when trying to find support?

This cybersecurity pricing guide will provide insights into how much it costs to hire a cybersecurity firm and the cost associated with professional services related to the IT service.

Cybersecurity projects reviewed on Clutch typically cost

$10,000 - $49,999
< $10,000 $10,000 - $49,999 $50,000 - $199,999 $200,000 >

As shown in the chart above, cybersecurity services on Clutch range from a few thousand dollars to several tens of thousands. The cost of hiring a cybersecurity company is dependent on the scope of work and other factors that directly involve the client.

Look for cybersecurity companies that have a good track record with their customers and offer competitive prices. Don’t be afraid to ask for cost estimates or negotiate on price if needed. A cybersecurity company should be willing to work with you in order to provide the level of cybersecurity protection your business needs at an affordable price.

Information security is key for businesses - no matter the company size. Explore the price of hiring trusted cybersecurity services.

Types of Cybersecurity Services & Hourly Rates

As one of the top managed security services, cybersecurity covers a subset of services that provide protection and efficiency to companies.

This table breaks down the top cybersecurity services and how much they cost for businesses.

Cybersecurity Service
Description
Average Hourly Cost
ATO is an attack where cybercriminals take ownership of online accounts, comprising customer information. Cybersecurity tools can provide protection for all aspects of cybercrime.
$150 - $199
If your company detects a breach or cyberattack, a cybersecurity firm can create an incident response plan that covers preparation, vulnerability assessments, authentication, containment, and other factors to help deal with attack.
$100 - $149
Cybersecurity firms can examine system data, user activity, and other evidence to discover areas for potential cyberattacks, if one is in progress, and who might be behind the attack.
$100 - $149
Expert Testimony
A cybersecurity professional can provide testimony for businesses on security vulnerabilities, technical specifications, and implications of misleading cybersecurity programs.
$50 - $99
IAM refers to a framework of policies and technologies that facilitates the management of digital identities. Cybersecurity firms can set up these processes and systems like antivirus software or firewall protection for teams.
$100 - $149
Okta is a cybersecurity program that can be installed by firms that add authentication or authorization services to company web applications, mobile apps, and other devices that could be threatened.
$150 - $199
Threat/Attack Simulations
As part of a risk assessment, cybersecurity companies can perform threat and attack simulations that mimic real-world attacks to help identify potential areas that need more protection.
$100 - $149

Note: Price ranges above are in U.S. dollars

What is the Real Cost of Hiring a Cybersecurity Company?

The average cost of hiring a cybersecurity service provider on Clutch is between $100-$149 an hour.

Explore Recommended Cybersecurity Companies

How much your cybersecurity company charges depends on several factors, such as the scope of your project. Before hiring a cybersecurity company, it is important for your internal stakeholders to assess how much support your business might need.

Your team could hire internal IT support, which would help with small cases, but having a team of cybersecurity professionals onboard will provide your company with expert opinions and top-notch security against cyber threats.

What Services Do Cybersecurity Companies Offer?

Common cybersecurity services include:

  • Protection from malware and data breaches
  • Data encryption
  • Network security
  • Risk management & monitoring
  • Threat assessment & response
  • Employee cybersecurity training

What Impacts the Cost of Hiring a Cybersecurity Firm?

  • Business needs
  • Number of employees
  • Setup costs
  • Location

Cybersecurity firms will start any engagement with an audit, which expenses should be allocated for in any IT budget. During an audit, the firm will determine what work might need to be done to protect the business, which will in turn, reflect in the total cost. This relates to the number of tasks, resources needed, and time completed.

The number of employees in an organization will also impact the total cost. Each device needs the right support, which will go back to the service provider in terms of bandwidth. Cybersecurity companies will also complete several training sessions with their clients. For instance, if a significant number of employees need instruction on how to identify a phishing scam, the cybersecurity team will have to put hours and resources into that aspect, which could directly correlate with pricing.

For instance, companies under threat of ransomware attacks will need different and more immediate attention than those looking to protect against possible phishing attacks. Data protection is a common goal in each case, but the initiatives will be different, which accounts for a difference in price tag. Additionally, costs will increase according to client needs for an external IT team. Many companies handle IT in-house, but in some cases, achieving data security and cyber resilience may require full-time support from a partner company.

Cybersecurity firms also can help companies with the technical setup of devices, systems, and programs. While companies will likely have to pay for setup fees separately, they will have to pay the cybersecurity company for the extra support and time spent, especially if the on-premise team has to come into the office. Further, the cost of cybersecurity products such as cyber insurance may be added in here.

Another factor in determining cybersecurity firm pricing is where the company is located.

Generally, cybersecurity service providers in North America and Western Europe will likely charge more than companies in other parts of the world.

Explore common hourly rates for cybersecurity companies based on locations around the world.

2024 Cybersecurity Pricing by Location

Browse hourly rates for Cybersecurity companies by popular locations.

CountryAverage Cost per Hour
United States of America$150 - $199
India$25 - $49
United Kingdom$100 - $149
Canada$100 - $149
Australia$150 - $199
Phillippines$25 - $49
Ukraine$25 - $49
Poland$50 - $99
Spain$25 - $49
Mexico$25 - $49

* Countries ranked by Clutch traffic

When working with cybersecurity companies, it is important for businesses to receive the best value for their money. Companies can work with remote teams in different time zones to save money on the total cost. However, this isn’t the right fit for every business, so stakeholders need to assess company needs before making this call.

Develop a Budget Before Hiring a Cybersecurity Company

When it comes to cybersecurity pricing, there are a few factors you should consider in order to develop a budget before hiring a cybersecurity company. The cost of cybersecurity services can vary greatly depending on the type of services and protection required for your business.

Cybersecurity budgets should include the bandwidth for software and hardware solutions, training and education for employees, and additional managed services.

In addition to the services provided, cybersecurity pricing also depends on the size of your organization, the amount of data you need to be protected, the number of locations or devices requiring protection, and any special requirements for security compliance. It is important to take all of these factors into account when calculating cybersecurity pricing in order to get the best value for your budget.

Hire the Right Cybersecurity Partner for Your Business

All business owners should prioritize security for their businesses – hiring the right cybersecurity service provider is the first step.

The strength and success of companies today relies on the protection of digital assets with IT and cybersecurity support. The final cost of hiring a cybersecurity company will depend on the type of services and level of support needed.

By considering these factors and doing some research, you can find the cybersecurity team that meets your needs and helps keep your business safe.

Clutch is here to provide your business with the correct resources to find and hire the perfect cybersecurity support for your business.

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