Organizations are spending more to account for widespread security operation center (SOC) challenges including growing security management complexity, increasing analyst salaries, security engineering and management outsourcing costs. Organizations are also boosting investments in new SOC tools like Extended Detection and Response (XDR) and security automation to help solve these issues. Organizations surveyed are spending an average of $2,716,514 per year on security engineering, but only 51 percent of respondents rate their security engineering efforts as effective or very effective. Despite increasing salaries, organizations are not able to boost employee morale.
Source: https://www.helpnetsecurity.com/2021/01/13/soc-analysts-overloaded/