My experience is inconsistent with yours. In my 12 years of experience in the security industry, I have found that the blue teams (engineers who develop, maintain and secure network, data and applications) have higher demand and higher salaries than the red teams or pen-testing teams.
My experience is limited to security software development in e-banking, e-commerce, network security and data security domains in technology areas like cryptography, PKI, deep packet inspection, and network protocols. I know my experience may not be representative of the entire security industry and there is a possible selection bias too (i.e. I may have seen more demand for blue team engineers because I have belonged to blue teams myself), but I thought I should share my experience here to present the other side of the story.
My experience is limited to security software development in e-banking, e-commerce, network security and data security domains in technology areas like cryptography, PKI, deep packet inspection, and network protocols. I know my experience may not be representative of the entire security industry and there is a possible selection bias too (i.e. I may have seen more demand for blue team engineers because I have belonged to blue teams myself), but I thought I should share my experience here to present the other side of the story.