Management Analysts

Summary

management analysts image
Management analysts propose ways to improve an organization’s efficiency.
Quick Facts: Management Analysts
2015 Median Pay $81,320 per year
$39.10 per hour
Typical Entry-Level Education Bachelor's degree
Work Experience in a Related Occupation Less than 5 years
On-the-job Training None
Number of Jobs, 2014 758,000
Job Outlook, 2014-24 14% (Much faster than average)
Employment Change, 2014-24 103,400

What Management Analysts Do

Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Work Environment

Management analysts travel frequently to meet with clients. In 2014, about 3 in 10 worked more than 40 hours per week.

How to Become a Management Analyst

Most management analysts have at least a bachelor’s degree. The Certified Management Consultant (CMC) designation may improve job prospects.

Pay

The median annual wage for management analysts was $81,320 in May 2015.

Job Outlook

Employment of management analysts is projected to grow 14 percent from 2014 to 2024, much faster than the average for all occupations. Demand for the services of these workers should grow as organizations continue to seek ways to improve efficiency and control costs.

State & Area Data

Explore resources for employment and wages by state and area for management analysts.

Similar Occupations

Compare the job duties, education, job growth, and pay of management analysts with similar occupations.

More Information, Including Links to O*NET

Learn more about management analysts by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.

What Management Analysts Do About this section

Management analysts
Although some management analysts work for the company that they are analyzing, most work as consultants on a contractual basis.

Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Duties

Management analysts typically do the following:

  • Gather and organize information about the problem to be solved or the procedure to be improved
  • Interview personnel and conduct onsite observations to determine the methods, equipment, and personnel that will be needed
  • Analyze financial and other data, including revenue, expenditure, and employment reports
  • Develop solutions or alternative practices
  • Recommend new systems, procedures, or organizational changes
  • Make recommendations to management through presentations or written reports
  • Confer with managers to ensure changes are working

Although some management analysts work for the organization that they analyze, most work as consultants on a contractual basis. 

Whether they are self-employed or part of a large consulting company, the work of a management analyst may vary from project to project. Some projects require a team of consultants, each specializing in one area. In other projects, consultants work independently with the client organization’s managers.

Management analysts often specialize in certain areas, such as inventory management or reorganizing corporate structures to eliminate duplicate and nonessential jobs. Some consultants specialize in a specific industry, such as healthcare or telecommunications. In government, management analysts usually specialize by type of agency.

Organizations hire consultants to develop strategies for entering and remaining competitive in today’s marketplace.

Management analysts who work on contract may write proposals and bid for jobs. Typically, an organization that needs the help of a management analyst solicits proposals from a number of consultants and consulting companies that specialize in the needed work. Those who want the work must then submit a proposal by the deadline that explains how the consultant will do the work, who will do the work, why they are the best consultants to do the work, what the schedule will be, and how much it will cost. The organization that needs the consultants then selects the proposal that best meets its needs and budget.

Work Environment About this section

Management analysts
Because they must spend a significant portion of their time with clients, analysts travel frequently.

Management analysts held about 758,000 jobs in 2014. The industries that employed the most management analysts were as follows:

Management, scientific, and technical consulting services 22%
Finance and insurance 10
Federal government 8
State and local government, excluding education and hospitals 7
Management of companies and enterprises 5

Management analysts usually divide their time between their offices and the client’s site. Because they must spend a significant amount of time with clients, analysts travel frequently. Analysts may experience stress when trying to meet a client’s demands, often on a tight schedule.

In 2014, about 1 in 5 management analysts were self-employed. Self-employed analysts can decide how much, when, and where to work. However, self-employed analysts often are under more pressure than those who are wage and salary employees, because their livelihood depends on their ability to maintain and expand their client base.

Work Schedules

Analysts often work many hours under tight deadlines. In 2014, about 3 in 10 worked more than 40 hours per week.

How to Become a Management Analyst About this section

Management analysts
A bachelor’s degree is the typical entry-level requirement for obtaining a management analyst position.

Most management analysts have at least a bachelor’s degree. The Certified Management Consultant (CMC) designation may improve job prospects.

Education

A bachelor’s degree is the typical entry-level requirement for management analysts. However, some employers prefer to hire candidates who have a master’s degree in business administration (MBA).

Few colleges and universities offer formal programs in management consulting. However, many fields of study provide a suitable education because of the range of areas that management analysts address. Common fields of study include business, management, economics, political science and government, accounting, finance, marketing, psychology, computer and information science, and English.

Analysts also routinely attend conferences to stay up to date on current developments in their field.

Licenses, Certifications, and Registrations

The Institute of Management Consultants USA (IMC USA) offers the Certified Management Consultant (CMC) designation to those who meet minimum levels of education and experience, submit client reviews, and pass an interview and exam covering the IMC USA’s code of ethics. Management consultants with a CMC designation must be recertified every 3 years. Management analysts are not required to get certification, but it may give jobseekers a competitive advantage.

Work Experience in a Related Occupation

Many analysts enter the occupation with several years of work experience. Organizations that specialize in certain fields typically try to hire candidates who have experience in those areas. Typical work backgrounds include experience in management, human resources, and information technology. 

Advancement

As consultants gain experience, they often take on more responsibility. At the senior level, consultants may supervise teams working on more complex projects and become more involved in seeking out new business. Those with exceptional skills may eventually become partners in their consulting organization and focus on attracting new clients and bringing in revenue. Senior consultants who leave their consulting company often move to senior management positions at nonconsulting organizations.

Important Qualities

Analytical skills. Management analysts must be able to interpret a wide range of information and use their findings to make proposals.

Communication skills. Management analysts must be able to communicate clearly and precisely in both writing and speaking. Successful analysts also need good listening skills to understand the organization’s problems and propose appropriate solutions.

Interpersonal skills. Management analysts must work with managers and other employees of the organizations where they provide consulting services. They should work as a team toward achieving the organization’s goals. 

Problem-solving skills. Management analysts must be able to think creatively to solve clients’ problems. Although some aspects of different clients’ problems may be similar, each situation is likely to present unique challenges for the analyst to solve.

Time-management skills. Management analysts often work under tight deadlines and must use their time efficiently to complete projects on time.

Pay About this section

Management Analysts

Median annual wages, May 2015

Management analysts

$81,320

Business operations specialists

$64,510

Total, all occupations

$36,200

 

The median annual wage for management analysts was $81,320 in May 2015. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $45,970, and the highest 10 percent earned more than $150,220.

In May 2015, the median annual wages for management analysts in the top industries in which they worked were as follows:

Federal government $88,020
Management, scientific, and technical consulting services 86,300
Management of companies and enterprises 82,870
Finance and insurance 79,890
State and local government, excluding education and hospitals 63,970

Management analysts working for consulting firms are usually paid a base salary in addition to a year-end bonus. Self-employed analysts are paid directly by their clients, typically either by the hour, or per project.

Analysts often work many hours under tight deadlines. In 2014, about 3 in 10 worked more than 40 hours per week.

Job Outlook About this section

Management Analysts

Percent change in employment, projected 2014-24

Management analysts

14%

Business operations specialists

7%

Total, all occupations

7%

 

Employment of management analysts is projected to grow 14 percent from 2014 to 2024, much faster than the average for all occupations. Demand for consulting services is expected to grow as organizations seek ways to improve efficiency and control costs. As markets become more competitive, firms will need to use resources more efficiently.

Demand for management analysts is expected to be strong in healthcare. This industry segment is experiencing higher costs in part because of an aging population. In addition, federal health care reform has mandated changes to business practices for healthcare providers and insurance companies. More management analysts may be needed to help navigate these changes.  

Growth will be particularly strong in smaller consulting companies that specialize in specific industries or types of business function, such as information technology or human resources. Government agencies will also seek the services of management analysts as they look for ways to reduce spending and improve efficiency.

Growth of international business will also contribute to an expected increase in demand for management analysts. As U.S. organizations expand their business abroad, many will hire management analysts to help them form the right strategy for entering the foreign market.

Job Prospects

Jobseekers may face strong competition for management analyst positions because the high earning potential in this occupation makes it attractive to many jobseekers. Job opportunities are expected to be best for those who have a graduate degree or a certification, specialized expertise, fluency in a foreign language, or a talent for sales and public relations.

Employment projections data for management analysts, 2014-24
Occupational Title SOC Code Employment, 2014 Projected Employment, 2024 Change, 2014-24 Employment by Industry
Percent Numeric

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Management analysts

13-1111 758,000 861,400 14 103,400 [XLSX]

State & Area Data About this section

Occupational Employment Statistics (OES)

The Occupational Employment Statistics (OES) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area.

Projections Central

Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved.

Career InfoNet

America’s Career InfoNet includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.

Similar Occupations About this section

This table shows a list of occupations with job duties that are similar to those of management analysts.

Occupation Job Duties ENTRY-LEVEL EDUCATION Help 2015 MEDIAN PAY Help
Accountants and auditors

Accountants and Auditors

Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.

Bachelor's degree $67,190
Budget analysts

Budget Analysts

Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.

Bachelor's degree $71,590
Cost estimators

Cost Estimators

Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.

Bachelor's degree $60,390
Financial analysts

Financial Analysts

Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.

Bachelor's degree $80,310
Market research analysts

Market Research Analysts

Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price.

Bachelor's degree $62,150
Administrative services managers

Administrative Services Managers

Administrative services managers plan, direct, and coordinate supportive services of an organization. Their specific responsibilities vary, but administrative service managers typically maintain facilities and supervise activities that include recordkeeping, mail distribution, and office upkeep.

Bachelor's degree $86,110
Financial managers

Financial Managers

Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Bachelor's degree $117,990
Top executives

Top Executives

Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations.

Bachelor's degree $102,690
Economists

Economists

Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.

Master's degree $99,180
Survey researchers

Survey Researchers

Survey researchers design and conduct surveys and analyze data. Surveys are used to collect factual data, such as employment and salary information, or to ask questions in order to understand people’s opinions, preferences, beliefs, or desires.

Master's degree $53,920
Operations research analysts

Operations Research Analysts

Operations research analysts use advanced mathematical and analytical methods to help organizations investigate complex issues, identify and solve problems, and make better decisions.

Bachelor's degree $78,630
Suggested citation:

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition, Management Analysts,
on the Internet at http://www.bls.gov/ooh/business-and-financial/management-analysts.htm (visited June 27, 2016).

Publish Date: Thursday, December 17, 2015

What They Do

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Work Environment

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How to Become One

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Pay

The Pay tab describes typical earnings and how workers in the occupation are compensated—annual salaries, hourly wages, commissions, tips, or bonuses. Within every occupation, earnings vary by experience, responsibility, performance, tenure, and geographic area. This tab may also provide information on earnings in the major industries employing the occupation.

State & Area Data

The State and Area Data tab provides links to state and area occupational data from the Occupational Employment Statistics (OES) program, state projections data from Projections Central, and occupational information from the Department of Labor's Career InfoNet.

Job Outlook

The Job Outlook tab describes the factors that affect employment growth or decline in the occupation, and in some instances, describes the relationship between the number of job seekers and the number of job openings.

Similar Occupations

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Contacts for More Information

The More Information tab provides the Internet addresses of associations, government agencies, unions, and other organizations that can provide additional information on the occupation. This tab also includes links to relevant occupational information from the Occupational Information Network (O*NET).

2015 Median Pay

The wage at which half of the workers in the occupation earned more than that amount and half earned less. Median wage data are from the BLS Occupational Employment Statistics survey. In May 2015, the median annual wage for all workers was $36,200.

On-the-job Training

Additional training needed (postemployment) to attain competency in the skills needed in this occupation.

Entry-level Education

Typical level of education that most workers need to enter this occupation.

Work experience in a related occupation

Work experience that is commonly considered necessary by employers, or is a commonly accepted substitute for more formal types of training or education.

Number of Jobs, 2014

The employment, or size, of this occupation in 2014, which is the base year of the 2014-24 employment projections.

Job Outlook, 2014-24

The projected percent change in employment from 2014 to 2024. The average growth rate for all occupations is 7 percent.

Employment Change, 2014-24

The projected numeric change in employment from 2014 to 2024.

Entry-level Education

Typical level of education that most workers need to enter this occupation.

On-the-job Training

Additional training needed (postemployment) to attain competency in the skills needed in this occupation.

Employment Change, projected 2014-24

The projected numeric change in employment from 2014 to 2024.

Growth Rate (Projected)

The percent change of employment for each occupation from 2014 to 2024.

Projected Number of New Jobs

The projected numeric change in employment from 2014 to 2024.

Projected Growth Rate

The projected percent change in employment from 2014 to 2024.

2015 Median Pay

The wage at which half of the workers in the occupation earned more than that amount and half earned less. Median wage data are from the BLS Occupational Employment Statistics survey. In May 2015, the median annual wage for all workers was $36,200.