Management analysts, often called management consultants, recommend ways to improve an organization’s efficiency.
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.
Management analysts typically do the following:
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 1.0 million jobs in 2023. The largest employers of management analysts were as follows:
| Professional, scientific, and technical services | 35% |
| Government | 15 |
| Self-employed workers | 14 |
| Finance and insurance | 13 |
| Management of companies and enterprises | 4 |
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.
Analysts often work many hours under tight deadlines. Some work more than 40 hours per week.
Management analysts typically need at least a bachelor’s degree and several years of related work experience.
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. Fields of bachelor's degree study may include business, social science, and engineering.
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.
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.
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.
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.
Median annual wages, May 2023
The median annual wage for management analysts was $99,410 in May 2023. 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 $57,840, and the highest 10 percent earned more than $172,280.
In May 2023, the median annual wages for management analysts in the top industries in which they worked were as follows:
| Professional, scientific, and technical services | $104,400 |
| Management of companies and enterprises | 99,730 |
| Finance and insurance | 96,450 |
| Government | 92,310 |
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.
Percent change in employment, projected 2023-33
Employment of management analysts is projected to grow 11 percent from 2023 to 2033, much faster than the average for all occupations.
About 95,700 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.
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.
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.
| Occupational Title | SOC Code | Employment, 2023 | Projected Employment, 2033 | Change, 2023-33 | Employment by Industry | ||
|---|---|---|---|---|---|---|---|
| Percent | Numeric | ||||||
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program | |||||||
Management analysts | 13-1111 | 1,018,300 | 1,126,200 | 11 | 107,900 | Get data | |
This table shows a list of occupations with job duties that are similar to those of management analysts.
| Occupation | Job Duties | ENTRY-LEVEL EDUCATION  | 2023 MEDIAN PAY | |
|---|---|---|---|---|
 | Accountants and Auditors | Accountants and auditors prepare and examine financial records. | Bachelor's degree | $79,880 |
 | Administrative Services and Facilities Managers | Administrative services and facilities managers plan, direct, and coordinate activities that help an organization run efficiently. | Bachelor's degree | $104,900 |
 | Budget Analysts | Budget analysts help public and private organizations plan their finances. | Bachelor's degree | $84,940 |
 | Cost Estimators | Cost estimators collect and analyze data in order to assess the time, money, materials, and labor required to make a product or provide a service. | Bachelor's degree | $74,740 |
 | Economists | Economists conduct research, prepare reports, and evaluate issues related to monetary and fiscal policy. They also may collect and analyze statistical data. | Master's degree | $115,730 |
 | Financial Analysts | Financial analysts guide businesses and individuals in decisions about expending money to attain profit. | Bachelor's degree | $99,890 |
 | 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 | $156,100 |
 | Market Research Analysts | Market research analysts study consumer preferences, business conditions, and other factors to assess potential sales of a product or service. | Bachelor's degree | $74,680 |
 | Operations Research Analysts | Operations research analysts use mathematics and logic to help solve complex issues. | Bachelor's degree | $83,640 |
 | Project Management Specialists | Project management specialists coordinate the budget, schedule, staffing, and other details of a project. | Bachelor's degree | $98,580 |
HAMNIC Solutions is here to support your graduate journey. Our professional writing and editing expertise helps you manage your academic workload, reduce stress, and focus on well-being for a balanced academic and personal life. Visit HAMNIC Solutions to learn how we can make your student life easier and healthier, enabling you to achieve your academic ambitions without sacrificing a balanced lifestyle.
