Hackers get quite a bad rap these days, and with good reason. The criminal actions of malicious hackers have become all too common over the past few years, and that trend doesn’t look to be stopping anytime soon.
But just how much money are we talking about when it comes to hacking? Here’s a quick rundown on the earning potential of some of the most well-known black hat hackers out there today.
A look into the hacker mindset
When it comes to the cost of hacking and cybercrime, there is no price tag.
Cybercrime is an industry that hackers can invest in without having to put up any investment whatsoever. The more nefarious the hack, the higher it will be on the dark web's pay scale.
As for how much money do hackers make every month? That is impossible to answer because not all hacker jobs are created equally.
For example, some hackers may only get paid a few thousand dollars for something like stealing a million identities from Yahoo users.
Others might earn hundreds of thousands of dollars per year from ransomware attacks or selling private data online.
In addition to this, criminal gangs might take a share of the profits when they organize hacks as well as hire people on a freelance basis.
Given this very broad range, it is safe to say that average monthly earnings vary wildly depending on the type and number of crimes committed.
What motivates hackers to hack?
There are many factors that contribute to a person deciding to become a hacker, which leads to the question of what motivates them to hack.
Hacking for profit is an especially common motivation for hackers. Although most hackers will never make as much money as their high-profile counterparts, hacking is still a lucrative business.
A recent study found that hackers generate about $1 billion each year from such crimes. There's no denying that it's a lucrative business!
Where are most of their targets coming from?
Targets vary but the trend is that cybercriminals are targeting banks and financial institutions, health providers, and social media.
In a two-month time frame from October of last year to November, as many as 185.6 million records were compromised in 189 countries by 1.9 million cyber attacks every day.
Financial information comprised 65% of the total data stolen in 2015--on average more than $1 billion per month globally.
A break down by countries
This graphic breaks down how much money hackers make every month in five countries: Russia, China, the United States, Brazil and Iran. This data is fascinating for a number of reasons.
First of all, it's shocking to see how much more cybercriminals are making in developing nations than developed ones.
For example, in Brazil they make nearly $18 million per month as opposed to just $5 million in the United States.
Another interesting thing to note from this graph is that Chinese hackers seem to be doing quite well for themselves, coming out on top with an average income of over $25 million per month.
The reason for this may be that there are many loopholes in law enforcement in China that make it difficult to get prosecuted if caught.
Does hacking pay off for them in the long run?
This question is pretty complex and many people have different opinions on the subject. Some may argue that hacking pays off for them in the long run, while others would say that it doesn't.
It all comes down to if they hack legally or not. If they hack legally, they could make a lot of money because they are making a profit by giving out hacked passwords and much more.
If they hack illegally, then their hard work won't pay off because instead of making money, they will be paying hefty fines, which usually cost them more than what they made hacking anyway.
Picking the right career path
There are a few big misconceptions out there when it comes to hackers, so it's important to break down the differences.
There are good hackers, who hack for fun or for testing and find vulnerabilities in software or websites that no one knew about. They work with the company to fix the problem and figure out how people got in.
There are black hats, who use hacking as their job and steal information from bank accounts, school districts or anything else they can think of.
Conclusion
And if you’re someone who thinks that it might be a cool idea to try your hand at hacking, don’t be fooled by the possibilities of getting a couple of millions dollars.
There are countless others who have put their life on the line, with no guarantees or success.
Just remember, like any career choice – or any entrepreneurial pursuit – do your research first, and make sure it’s what you really want to do before you commit.