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Summary

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Video transcript available at https://www.youtube.com/watch?v=TWXBadjTgz0.
Quick Facts: Management Analysts
2019 Median Pay $85,260 per year
$40.99 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, 2019 876,300
Job Outlook, 2019-29 11% (Much faster than average)
Employment Change, 2019-29 93,800

What Management Analysts Do

Management analysts recommend ways to improve an organization’s efficiency.

Work Environment

Management analysts may travel frequently to meet with clients. Some work more than 40 hours per week.

How to Become a Management Analyst

Management analysts typically need at least a bachelor’s degree and several years of related work experience.

Pay

The median annual wage for management analysts was $85,260 in May 2019.

Job Outlook

Employment of management analysts is projected to grow 11 percent from 2019 to 2029, much faster than the average for all occupations. Demand for the services of these workers is expected to increase 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, recommend 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 problems to be solved or the procedures 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, many work as consultants on a contractual basis.

The work of management analysts may vary from project to project. Some projects require a team of analysts, each specializing in one area. On other projects, analysts work independently with the client organization’s managers.

Management analysts often specialize in certain areas, such as inventory control or reorganizing corporate structures for efficiency. Some focus on a specific industry, such as healthcare or telecommunications. In government, management analysts usually specialize by type of agency.

Organizations hire management analysts to develop strategies for entering and remaining competitive in the market.

Management analysts who work on contract may write proposals and bid for jobs. Typically, an organization that needs the help of a management analyst requests proposals from a number of consultants and consulting companies that specialize in the needed work. Interested companies then submit a proposal that explains details such as how the work will be completed, what the schedule will be, and how much it will cost. The organization 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 876,300 jobs in 2019. The largest employers of management analysts were as follows:

Professional, scientific, and technical services 32%
Government 17
Self-employed workers 15
Finance and insurance 12
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, especially when trying to meet a client’s demands on a tight schedule.

Work Schedules

Analysts often work many hours under tight deadlines. Some work 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.

Management analysts typically need at least a bachelor’s degree and several years of related work experience.

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).

Management analysts address a range of topics, and many fields of study provide a suitable educational background. Common fields of study include business, economics, finance, marketing, and psychology.

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 and who complete other requirements. Management analysts are not required to get certification, but having the credential 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. For example, tax preparation firms may prefer candidates who have worked as an accountant or auditor, and software companies might seek those with experience as a computer systems analyst.

Advancement

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

Important Qualities

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

Communication skills. Management analysts must be able to convey information clearly in both writing and speaking. Analysts also need good listening skills to understand an organization’s problems and recommend appropriate solutions.

Interpersonal skills. Management analysts work with managers and other employees of the organizations for which they provide consulting services. They should be able to 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 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 schedule.

Pay About this section

Management Analysts

Median annual wages, May 2019

Management analysts

$85,260

Business operations specialists

$68,730

Total, all occupations

$39,810

 

The median annual wage for management analysts was $85,260 in May 2019. 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 $49,700, and the highest 10 percent earned more than $154,310.

In May 2019, the median annual wages for management analysts in the top industries in which they worked were as follows:

Professional, scientific, and technical services $91,160
Finance and insurance 84,940
Management of companies and enterprises 84,390
Government 79,720

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 by either the hour or the project.

Analysts often work many hours under tight deadlines. Some work more than 40 hours per week.

Job Outlook About this section

Management Analysts

Percent change in employment, projected 2019-29

Management analysts

11%

Business operations specialists

6%

Total, all occupations

4%

 

Employment of management analysts is projected to grow 11 percent from 2019 to 2029, much faster than the average for all occupations. Demand for consulting services is expected to increase 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, more management analysts may be needed to help navigate the regulatory environment within health insurance.

Information technology (IT) consultants are also expected to see high demand. Businesses will seek out consulting firms to help them attain a high level of cybersecurity and make sure their IT systems are efficient and up to date.

Growth is expected to 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 also are expected to seek the services of management analysts as they look for ways to reduce spending and improve efficiency.

Job Prospects

About 87,100 openings for management analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

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, 2019-29
Occupational Title SOC Code Employment, 2019 Projected Employment, 2029 Change, 2019-29 Employment by Industry
Percent Numeric

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

Management analysts

13-1111 876,300 970,200 11 93,800 Get data

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.

CareerOneStop

CareerOneStop 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 on Entry-Level Education 2019 MEDIAN PAY Help on Median Pay
Accountants and auditors

Accountants and Auditors

Accountants and auditors prepare and examine financial records.

Bachelor's degree $71,550
Administrative services managers

Administrative Services Managers

Administrative services managers plan, direct, and coordinate activities that help an organization run efficiently.

Bachelor's degree $96,940
Budget analysts

Budget Analysts

Budget analysts help public and private institutions organize their finances.

Bachelor's degree $76,540
Cost estimators

Cost Estimators

Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to make a product or provide a service.

Bachelor's degree $65,250
Economists

Economists

Economists collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services.

Master's degree $105,020
Financial analysts

Financial Analysts

Financial analysts provide guidance to businesses and individuals making investment decisions.

Bachelor's degree $81,590
Financial managers

Financial Managers

Financial managers create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.

Bachelor's degree $129,890
Market research analysts

Market Research Analysts

Market research analysts study market conditions to examine potential sales of a product or service.

Bachelor's degree $63,790
Operations research analysts

Operations Research Analysts

Operations research analysts use advanced mathematical and analytical methods to help solve complex issues.

Bachelor's degree $84,810
Suggested citation:

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Management Analysts,
on the Internet at https://www.bls.gov/ooh/business-and-financial/management-analysts.htm (visited September 21, 2020).

Last Modified Date: Tuesday, September 1, 2020

What They Do

The What They Do tab describes the typical duties and responsibilities of workers in the occupation, including what tools and equipment they use and how closely they are supervised. This tab also covers different types of occupational specialties.

Work Environment

The Work Environment tab includes the number of jobs held in the occupation and describes the workplace, the level of physical activity expected, and typical hours worked. It may also discuss the major industries that employed the occupation. This tab may also describe opportunities for part-time work, the amount and type of travel required, any safety equipment that is used, and the risk of injury that workers may face.

How to Become One

The How to Become One tab describes how to prepare for a job in the occupation. This tab can include information on education, training, work experience, licensing and certification, and important qualities that are required or helpful for entering or working in the occupation.

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. For most profiles, this tab has a table with wages in the major industries employing the occupation. It does not include pay for self-employed workers, agriculture workers, or workers in private households because these data are not collected by the Occupational Employment Statistics (OES) survey, the source of BLS wage data in the OOH.

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 CareerOneStop.

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

The Similar Occupations tab describes occupations that share similar duties, skills, interests, education, or training with the occupation covered in the profile.

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).

2019 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 2019, the median annual wage for all workers was $39,810.

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, 2019

The employment, or size, of this occupation in 2019, which is the base year of the 2019-29 employment projections.

Job Outlook, 2019-29

The projected percent change in employment from 2019 to 2029. The average growth rate for all occupations is 4 percent.

Employment Change, 2019-29

The projected numeric change in employment from 2019 to 2029.

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 2019-29

The projected numeric change in employment from 2019 to 2029.

Growth Rate (Projected)

The percent change of employment for each occupation from 2019 to 2029.

Projected Number of New Jobs

The projected numeric change in employment from 2019 to 2029.

Projected Growth Rate

The projected percent change in employment from 2019 to 2029.

2019 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 2019, the median annual wage for all workers was $39,810.