Management Analysts

What Management Analysts Do

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

https://www.youtube.com/watch?v=TWXBadjTgz0

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.

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.

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.

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

Occupation Job Duties Entry-Level Education Median Annual Pay, May 2019

Accountants and Auditors

Accountants and auditors prepare and examine financial records.

Bachelor’s degree $71,550

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 help public and private organizations plan their finances.

Bachelor’s degree $76,540

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 provide guidance to businesses and individuals making investment decisions.

Bachelor’s degree $81,590

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

Bachelor’s degree $63,790

Operations Research Analysts

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

Bachelor’s degree $84,810

For more information about the Certified Management Consultant designation, visit

Institute of Management Consultants USA

For more information about other certifications in management consulting, visit

Global Academy of Finance and Management

O*NET

Management Analysts


Suggested citation:

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