Management Analyst

Your Fit

Income

$99K

Preparation

Considerable

Growth

9.7%

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is a Management Analyst?

Management Analysts, also known as management consultants, are professionals who propose ways to improve an organization's efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Management Analyst.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does a Management Analyst earn

According to the U.S. Bureau of Labor Statistics, typical income (in USD) is...

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$58K per year	$74K per year	$99K per year	$131K per year	$172K per year

Compared to other careers: Median is $51K above the national average.

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What does a Management Analyst do?

Work environment

Management Analysts often work in offices, but they also spend time at client sites. They may travel frequently to meet with clients or conduct field research, and their work environment can vary significantly depending on the client's industry.

Quick task list

Gathers and organizes information about the problem to be solved or the procedure to be improved.
Interviews personnel and conducts onsite observations to ascertain methods, equipment, and personnel that will be needed.
Analyzes financial and other data, including revenue, expenditure, and employment reports.
Develops solutions or alternative practices and recommends new systems, procedures, or organizational changes.

See full list of tasks with expert relevance ratings

Areas of specialization

Financial Analysis: Focusing on cost reduction and revenue enhancement.
Human Resources Planning: Specializing in improving employee efficiency and satisfaction.
Strategic Planning: Concentrating on long-term goals and organizational growth.
Technology Integration: Advising on incorporating new technology into business processes.
Healthcare Management: Specializing in the efficient operation of healthcare organizations.

Description

Management Analysts play a critical role in helping organizations stay competitive and efficient. They analyze data and business processes to identify areas where an organization can increase efficiency and profitability. The role demands a combination of analytical skills, creativity, and a deep understanding of the specific industry they are consulting in.

A typical day for a management analyst might involve meeting with clients to understand their needs, analyzing business data, and then developing detailed reports and presentations. The job is dynamic and often involves tackling new challenges and problems in various industries, which keeps the work interesting and intellectually stimulating.

The most successful management analysts are those who not only have strong analytical and problem-solving skills but also possess excellent interpersonal and communication skills. They must be able to build relationships with clients and communicate complex ideas in a clear and concise manner.

Job Satisfaction

Sources of satisfaction

The challenge of solving complex business problems.
The variety of projects and industries encountered.
The impact of seeing tangible improvements in a client's business.

You might make a good Management Analyst if you are...

Analytically minded with a knack for identifying trends and patterns in data.
A problem-solver who enjoys challenges and innovative thinking.
An effective communicator who can articulate complex ideas clearly.
Flexible and adaptable to changing environments and client needs.
Interested in business operations and strategic planning.

Pros:

Diverse work experiences across various industries.
High potential for career growth and development.
Intellectual challenge and opportunity to make a significant impact on businesses.

Cons:

Can involve long hours, especially when meeting tight deadlines.
Frequent travel can be demanding.
High-pressure environment with demanding clients.

How to become a Management Analyst

Typical education

Typically, a bachelor's degree in business, economics, or a related field is required, which is about 4 years of post-secondary education. However, many management analysts have a master's degree.

High school preparation

Courses:

Business Studies and Economics for foundational knowledge.
Mathematics, especially statistics, for data analysis.
Computer Science for technological proficiency.

Extra-Curricular Activities:

Join debate clubs or business simulations like Model UN or DECA.
Participate in internships or job shadowing in business settings.
Engage in volunteer work to develop communication and teamwork skills.

Preparation after high school

Pursue a bachelor's degree in business, economics, finance, or a related field.
Consider a master's degree, such as an MBA, for advanced opportunities.
Gain experience through internships in consulting firms or business-related roles.
Obtain certifications like Certified Management Consultant (CMC) for credibility.

More resources

Institute of Management Consultants USA (IMC USA) - Provides certification and networking opportunities.
Management Consultants Association (MCA) - Offers resources and information on the industry.
Harvard Business Review (HBR) - A leading resource for business trends and research.

Similar careers

Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.