This article goes over vCISO pricing models and services, how to choose the right option for your business, and how to make sure you receive the guidance and services you need without unnecessary expenditure.
For startups and SMBs, cybersecurity and regulatory compliance are challenges that demand expert attention. However, many organizations either lack the resources or don’t need to hire a full-time Chief Information Security Officer (CISO) to meet their needs. A Virtual CISO (vCISO) offers a practical alternative, delivering high-level security leadership on a flexible, cost-effective basis.
vCISO Pricing Structures
Let’s go over the three main vCISO pricing structures and their average costs right off the bat:
Project-Based Pricing
Businesses often select this option if they need one-time tasks like security audits, risk assessments, or gap assessments. As you can probably imagine, the cost varies widely depending on the specific project.
As an estimate, project-based vCISO pricing ranges from $10,000 (for services like gap & risk assessments) – to $50,000 (prices can go up this high for things like penetration testing and compliance certifications).
Hourly vCISO Pricing
Hourly vCISO pricing typically falls between $200 – $500 per hour. This option may be suitable for companies that need occasional expert input or are looking to address specific tasks without a long-term contract.
However, a major con of hourly pricing is that your hours may be capped on a weekly or monthly basis. This means that if you need extra support if something comes up, you may not be able to receive it on demand.
Monthly Retainers
Monthly retainer fees typically range from $5,000 – $20,000 per month, depending on the level of service and the vCISO’s involvement.
This pricing model allows you to have continuous access to a vCISO, offering the most comprehensive support. This benefits businesses that need ongoing direction and hands-on management of their infosec programs.
What Does The vCISO Role Entail?
A Virtual Chief Information Security Officer (vCISO) is a seasoned cybersecurity professional who provides the strategic leadership and services of a traditional CISO, but operates remotely and often on a part-time basis.
vCISOs work with businesses to develop and manage their security programs, maintain overall good security hygiene, and protect the company’s data and systems. This role is particularly appealing to startups and SMBs that need expert guidance and support but without the full-time commitment or cost of an in-house CISO.
vCISOs assist with a wide range of services, including risk management, compliance with regulatory standards, incident response, and security policy development. Some Managed Security Services Providers (MSSPs), such as Rhymetec, offer comprehensive vCISO services that provide an elegant solution for businesses aiming to improve their security posture without the overhead of a full-time CISO.
What Are The Advantages of a vCISO vs. In-House Security?
For SMBs and startups, the choice between a vCISO and an in-house security team often comes down to three main considerations:
- Cost
- Expertise
- Flexibility
Hiring a full-time CISO can be prohibitively expensive, with salaries often exceeding six figures. Not to mention, there are the additional costs of benefits, training, and other resources required to support the role.
A vCISO, on the other hand, offers the expertise of a seasoned CISO at a fraction of the cost, often working part-time or on a retainer basis. vCISOs bring a breadth of experience from working with multiple clients across various industries, which can be particularly beneficial for smaller companies that may not have the resources to stay on top of the latest threats and regulatory changes.
For instance, Rhymetec’s Executive Tier vCISO Service provides not just a dedicated vCISO, but also full integration with the client’s systems, providing a level of support that rivals that of an in-house team.
Factors Impacting vCISO Pricing
vCISO pricing can vary substantially depending on the scope of services, the requirements specific to your location and industry, and the complexity of your existing infrastructure. The broader the scope of services – such as adding compliance frameworks or expanding to full-time support – the higher the cost.
For example, Rhymetec’s pricing structure adjusts based on the level of service required. Our Mentor Tier starts at $2,500 per month, which covers essential advisory services and assistance in maximizing your use of a compliance automation platform.
However, if a client needs additional services, such as manual security services to meet requirements under a framework like SOC 2 or NIST compliance, the monthly fee increases by a minimum of $500. Companies in highly regulated industries may face higher costs due to the need for specialized expertise and more comprehensive services.
Pricing Models for vCISO Services
As discussed previously at a high level, there are several common pricing models for vCISO services:
The most straightforward and popular option is a flat monthly fee. Businesses often find that this option allows them to budget more effectively and provides predictability. This model is often tiered, with different levels of service available depending on the company’s needs.
Rhymetec, for instance, offers three tiers of service on a monthly basis: Mentor, Manager, and Executive. The Mentor Tier is ideal for startups and SMBs needing strategic guidance, while the Manager Tier adds more hands-on management of security and compliance.
The Executive Tier, with custom scoping, offers the equivalent of a full-time vCISO, including advanced services like penetration testing and vendor risk management:
Another model is an hourly-based arrangement, where the vCISO is available for a set number of hours per month. This model offers flexibility but can lead to variable costs depending on how much time is used.
Some providers also offer project-based vCISO pricing for specific initiatives, such as phishing training for employees, a security audit, gap assessments, penetration testing, or compliance certification.
vCISO Pricing Compared To In-House Options
Taking a look at the differences in vCISO pricing and in-house options reveals substantial cost savings:
The average salary for a full-time CISO can exceed $200,000 per year, not including bonuses, benefits, and investing in necessary resources. Companies often need to invest in ongoing training and potentially expand their IT team to support the CISO’s initiatives.
In contrast, a vCISO from Rhymetec’s Mentor Tier, as an example, costs a total average of $30,000 per year, with options to scale services as needed. Even the top-tier Executive service, which provides comprehensive, full-time support, is more cost-effective than hiring an in-house CISO, particularly when considering the added value of expert-level services that might otherwise require multiple hires!
Consider the average cost of the following positions:
Job Title (Salary range for an in-house full-time hire in 2024):
- CISO ($215,000 – $275,000 per year)
- Cloud Security Specialist ($110,000 – $150,000 per year)
- Application Security Specialist ($130,000 – $180,000 per year)
- Penetration Tester ($110,000 – $150,000 per year)
- Security Operations Analyst ($110,000 – $160,000 per year)
- Threat Intelligence Analyst ($80,000 – $140,000 per year)
- Governance, Risk and Compliance Specialist ($65,000 – $100,000 per year)
- Vulnerability Management Analyst ($100,000 – $165,000 per year)
SMBs and startups need the same level of expertise but not necessarily the same amount of work as large enterprises that spend millions of dollars on a security team with many highly specialized individuals.
Small businesses need the same level of experience but not necessarily the same amount of work. Many organizations choose to work with a Managed Security Services Provider precisely for this reason, as MSSPs fill this gap perfectly.
vCISO Pricing & Scope of Work
When considering working with a vCISO, understanding the scope of work and exactly what will be delivered is crucial.
A typical vCISO proposal will outline the specific services offered, the frequency of engagements (such as weekly meetings or monthly reports), and the expected outcomes. Rhymetec’s Mentor Tier includes weekly virtual meetings, gap assessments, and policy development, while the Manager and Executive Tiers expand the scope to include incident management, vendor management, and even penetration testing upon request.
The proposal will also detail if and how the vCISO will integrate with your existing team. In Rhymetec’s Executive Tier, this includes not just virtual support but also on-site meetings and close collaboration with the client’s internal IT team. This helps align your tailored vCISO services with your business objectives and cybersecurity needs.
Case Studies: SMBs and Startups Leveraging vCISOs
In our experience with clients, particularly with B2B startups, the vCISO program enables companies to meet their security and compliance goals in a much shorter timeframe than other options would have allowed for:
In our cybersecurity case studies, we’ve found that the vCISO pricing model and services provide several key advantages for companies. First and foremost, when working with a vCISO, specifically through an MSSP, it allows access to a vast set of skills:
“You can rely on a single individual, or you can have the benefit of a whole team of deep expertise and process knowledge. It’s a small investment when you’re considering in-house resources versus an entire team available on call at a fractional need – the ROI is really compelling.”
– Harry Karamitopoulos, President, Modicum
Customers leveraging a vCISO program also find that it enables them to stay on track with their security and compliance goals, while being able to move their business forward and eliminating the need to build out expensive in-house teams:
“It kind of is like my ‘security blanket.’ I am a team of one for security and I need support. Having the Rhymetec team to lean on, help me consider options, weigh the pros and cons for different assets around security, and have someone else to bounce ideas off of has been helpful. Also, helping me stay on track and act as a copilot to help manage and navigate those decisions are all things that are essential to me. Without it, I would have to go out and hire more people, and the vCISO essentially cuts out the workforce I would need to hire full-time.”
– Rolland Miller, Vice President of Security and Compliance, Orum
Lastly, we often hear from clients that working with their vCISO provides the level of experience and knowledge they need to meet their goals, and their vCISO’s established relationships with auditors and compliance automation companies are a critical resource during the audit process:
Maximize The Value of Your vCISO Investment
To get the most value from a vCISO, businesses should do the following:
- Make sure your objectives from working with a vCISO are clearly defined
- Communicate regularly with your vCISO
- Establish metrics for success and periodic reviews of your security posture as it evolves
Rhymetec’s vCISO services are designed with flexibility in mind, allowing businesses to begin with basic services and scale up as their needs grow. For example, a startup might begin with the Mentor Tier to establish a security foundation and achieve security advisement, then transition to the Manager or Executive Tier as their operations and the marketplaces they sell to expand. This not only helps manage costs but also ensures that the vCISO’s services evolve in tandem with the business.
An effective engagement with a vCISO enables you to vastly improve your company’s overall security posture over time, and serves as a business enabler as you break into new marketplaces and grow your business.
Concluding Thoughts: A Model for vCISO Pricing & Services With Busy Technology Executives Top of Mind
Whether you’re looking to start out with basic advisory services or invest in full-time support, the right vCISO can provide the expertise required to protect your business and take security off your plate so you can focus on what really matters – your business.
Rhymetec’s vCISO pricing tiers and vCISO services were created with busy technology executives and their workflows in mind. Our goal is to help you shorten your timelines, reduce your team’s level of effort, and successfully guide your company through all of your cybersecurity and compliance needs so you can continue to move your business forward. Contact us today to learn more:
About Rhymetec
Our mission is to make cutting-edge cybersecurity available to SaaS companies and startups. We’ve worked with hundreds of companies to provide practical security solutions tailored to their needs, enabling them to be secure and compliant while balancing security with budget. We enable our clients to outsource the complexity of security and focus on what really matters – their business.
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