Management Analyst

What a Management Analyst Does

Management analysts and consultants are employed by businesses and companies to find innovative ways to increase business and profitability. All types of industries and companies use management analysts, so the type of field you want to specialize in is usually up to you. About 26% of all management analysts are self-employed, which means that they can work for different companies at the same time, as long as their contract approves such an agreement. Some management analysts may only consult on a certain type of business, like streamlining operations, while others choose to advise a companies on all aspects of their business, from organization and structure, to operations systems, to employee relations and hiring, to advertising their services, and more. You may work with companies in a particular industry only, or get to work with companies in a variety of industries. Analysts usually work to fulfill a specific contract, only working with clients for a set amount of time before moving on.

How to Become a Management Analyst

At least a bachelor's degree is usually required to become a management analyst, although the higher paying jobs with more responsibility generally require at least a master's degree. If you're new to the field, expect to major in business. A business management degree would be directly applicable to your job as a consultant, but specializing in advertising, human resources or another focus area can also help you if you want to consult in those areas of business.

Career Outlook for Management Analysts

The Bureau of Labor Statistics estimates that about three times the average of management analysts work for themselves. The best job opportunities are found in large cities, and depending on which industry you want to work for, you may have to look for employment in that industry's headquarters. About 178,000 new jobs will be added to the field, which is a 24% increase, and much higher than the national average. Jobs will be found at consulting firms large and small, specifically those who consult on international business, biotechnology, healthcare, human resources, marketing, engineering and information technology. In addition to IT consulting, management consultants are experimenting with technology and software companies to create their own programs and products to market. The management analysts who worked in the computer systems and design related services industry earned the highest average salary in 2008, at $82,090, followed by management, scientific, and technical consulting services, at $81,670. The median annual salary for management analysts across all industries was $73,570, but depending on your education, experience and location, you salary could vary from that number dramatically.