With the increasingly progressing world of IT, new threats and complex regulatory requirements and challenges have plagued the tech space.
With cyber security threats looming at every corner, the integration of GRC practices is no longer a luxury but a necessity for organizations seeking sustainable success. By effectively managing governance, risk, and compliance, businesses can navigate challenges with greater resilience, safeguard their reputation, and capitalize on growth opportunities.
This, as a result, has created a need, more than ever before, for certified GRC professionals to combat arising issues related to corporate governance, risk management, and compliance. But are GRC certifications truly worth it?
What Are GRC Certifications?
Increasing cyber threats and stringent compliance regulations are driving organizations to prioritize GRC practices and certified GRC professionals to successfully navigate the digital world.
But what exactly are GRC certifications?
Generally, Governance, Risk, and Compliance (GRC) certification are regarded as licenses that validate that an individual has the ability to manage and implement effective risk management and governance policies and ensure regulatory compliance.
Benefits of A GRC Certification
GRC certifications are considered quite valuable in the tech space. Being certified is becoming increasingly important to the business and IT space and it holds a plethora of benefits for the individual itself. Some of these main benefits are discussed below:
Validation of Skills and Expertise
GRC certifications serve as a validation of an individual’s skills and expertise in governance, risk management, and compliance practices. They provide a standardized benchmark that showcases a professional’s knowledge, abilities, and commitment to staying updated in their field.
These certifications cover a wide range of topics, including regulatory frameworks, ethical standards, data privacy, and cybersecurity. Therefore, as professionals undergo specialized training and examination, they are able to gain a deeper understanding of industry best practices and garner the ability to implement effective strategies for identifying and mitigating risks.
Many employers realize this and value employees who have taken the time and effort to prove their skills and their ability to grow professionally. This can be especially important if you’re just starting out your career in IT and need to increase your marketability to prospective employers
Career Advancement Opportunities
Obtaining a GRC certification can significantly boost career advancement opportunities. Recruiters often prioritize certified professionals during recruitment processes, considering them to be more qualified and capable. Hence, gaining a GRC certification can be a major asset when it comes to job prospects.
In today’s competitive job market, having a GRC certification on your resume can make you stand out and demonstrate that you possess a higher level of expertise than other applicants. This can give you an edge and increase your chances of securing the job.
Certified GRC professionals are sought after by employers looking for candidates who possess in-depth knowledge of compliance requirements, risk assessment techniques, and governance frameworks. In 2023, as competition in the IT job market continues to intensify, your GRC certification may be able to give you a competitive edge and improve your marketability.
Read more: Benefits of CGEIT Certifications
Greater Earning Potential
When employers have multiple candidates vying for a position, certifications can help differentiate one candidate from the others. This slight edge might even push you towards a better salary package.
According to a study published by SkillSoft in 2020, people with IT or related certifications received an average increase of up to $13,000. And since then, this number has been expected only to increase.
Employers may be willing to offer higher salaries to individuals who hold certifications, recognizing their commitment to professional development and their ability to contribute at a higher level.
GRC certifications encompass a wide range of topics, from risk analysis to ethics and corporate governance. As candidates pursue these certifications, they gain valuable insights and analytical skills that can be applied to real-world scenarios. By learning to identify, assess, and mitigate risks effectively, certified professionals become more adept at making informed decisions and solving complex problems.
Improved Risk Management
Risk is an inherent part of every business operation. But GRC certifications can empower professionals to identify, assess, and mitigate risks effectively. GRC certifications help professionals get familiar with advanced risk management techniques and, in turn, proactively help them address potential threats in the practical field and seize opportunities for growth.
Networking and Collaboration Opportunities
Certifications can often offer opportunities for networking and collaboration with like-minded professionals. Certification programs often include membership to professional communities, forums, and events where individuals can connect with peers, share knowledge, and collaborate on projects. These interactions can lead to valuable professional relationships, job referrals, and access to industry insights.
In 2023, networking has become even more critical, especially in the GRC domain.
Enhanced Credibility and Trust
Earning a GRC certification can contribute to building credibility and trust among peers, clients, and employers. When a professional holds certifications from reputable organizations, it demonstrates their commitment to continuous learning and professional growth. Similarly, GRC certifications serve as a stamp of approval, indicating that the holder possesses the necessary expertise to navigate complex challenges related to governance, risk, and compliance.
As a result, clients are more likely to trust certified professionals with their projects, knowing they possess the necessary knowledge and skills to deliver quality results. Employers also benefit from the enhanced credibility of certified employees, which can improve the organization’s overall reputation
Read more: GCIH Certification Worth
Jobs You Can Get With A GRC Certification
There are many job roles that can benefit from getting a GRC Certification. Some of them are mentioned before:
- Governance, Risk, and Compliance (GRC) Analyst
- IT Governance Analyst
- GRC Security Consultant
- Regulatory Administration Analyst
- Chief Information Officer
- IT Security Analyst
- Information Assurance Program Manager
- Senior IT Auditor
Read more: Benefits of Getting IT Certifications
Salary Trends Based On Job Titles
Salaries can often vary by job title due to a combination of factors, including the level of skills and qualifications required, the responsibilities and scope of the job, as well as the experience and expertise of the individual themselves. Combining all these factors, different job titles in the GRC domain, and their respective annual salaries according to ZipRecruiter are mentioned below:
|Job Title||Average Annual Salary|
|GRC Security Consultant||$135,863|
|Information Security GRC||$125,140|
|IT Governance Analyst||$119,870|
|Information Security Risk Analyst||$115,649|
Today, GRC is not merely a regulatory obligation like it was viewed before but instead has become a strategic imperative enabling companies to successfully survive. This has led to an increase in the demand for certified GRC professionals as well as GRC certifications.
GRC certifications offer many advantages for both professionals and organizations seeking to thrive in a rapidly changing business environment From showcasing expertise and credibility to promoting organizational resilience and ethical behavior, GRC certifications play a pivotal role in elevating the standards of corporate governance, risk management, and compliance. Embracing these certifications is not just an investment in professional development but also a strategic move towards achieving excellence in GRC practices, which is vital for the long-term success and sustainability of any organization
Frequently Asked Questions (FAQs)
With the ever-increasing threats concerning cybersecurity and rising regulatory and compliance requirements, the need for GRC professionals is high and they are in demand. With new technologies dominating the space, this demand is expected to only rise.
Therefore, If your interest lies in this field, being a GRC professional can be a good career path for you.
However much you earn depends on a variety of factors such as your job designation, your qualifications, where you reside, and the type of company it is.
The average pay for a GRC in the United States is $61 dollars per hour.
There are a number of incredible GRC certifications available out there. The one you choose will vary depending on which area of GRC you want to pursue actively. Some of these include Certified In Risk And Information Systems Control (CRISC), Certified Information Systems Auditor (CISA), Certified Compliance And Ethics Professional (CCEP), Certified Information Security Manager (CISM), etc.
We have an article covering the Best GRC Certifications in 2023, you can check it out for further information on the subject.
Depending on whichever GRC certification you opt for, you can prepare and study from any study material available from the official source. In addition, you can use our exam dumps to prepare more effectively and efficiently. Our exam dumps contain real questions with verified answers, allowing you to experience and prepare with a real exam experience.
This depends on which GRC certification you are opting for. Some GRC certifications may be a little more challenging than others. However, with a thorough understanding of the syllabus of your chosen certification and sufficient practice, you may find the exam a lot easier to attempt. You can even make use of relevant exam dumps to elevate your exam preparation.