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Become A Business Associate

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Working As A Business Associate

  • Getting Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Establishing and Maintaining Interpersonal Relationships
  • Analyzing Data or Information
  • Organizing, Planning, and Prioritizing Work
  • Deal with People

  • Mostly Sitting

  • $81,117

    Average Salary

What Does A Business Associate 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.

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.

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How To Become A Business Associate

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.

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Business Associate Jobs

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Business Associate Career Paths

Business Associate
Project Manager Management Consultant Senior Business Analyst
Analytical Manager
9 Yearsyrs
Specialist Business Analyst Senior Programmer Analyst
Application Manager
9 Yearsyrs
Account Executive Office Manager Human Resources Manager
Business Partner
8 Yearsyrs
Project Manager Information Technology Project Manager
Business Program Manager
10 Yearsyrs
Office Manager Accountant Controller
Corporate Controller
11 Yearsyrs
Account Manager Operations Manager Operations Vice President
Executive Vice President
11 Yearsyrs
Business Manager Human Resources Manager Talent Acquisition Manager
Global Manager
11 Yearsyrs
Office Manager Staff Accountant Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Business Analyst Senior Finance Analyst Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Specialist Analyst Senior Analyst
Manager, Strategy
8 Yearsyrs
Accountant Finance Analyst Pricing Analyst
Pricing Manager
7 Yearsyrs
Business Analyst Product Manager
Product Marketing Manager
7 Yearsyrs
Account Manager Account Executive
Relationship Manager
6 Yearsyrs
Medical Assistant Office Administrator Recruiting Coordinator
Resource Manager
7 Yearsyrs
Attorney Contracts Administrator Subcontracts Manager
Senior Managed
7 Yearsyrs
Account Executive Sales Consultant Solution Specialist
Solutions Manager
8 Yearsyrs
Medical Assistant Office Manager Executive Assistant To Chief Executive Officer
Special Projects Manager
7 Yearsyrs
Business Planning Manager Marketing Manager Social Media Manager
Strategist
7 Yearsyrs
Accountant Assistant Vice President Marketing Vice President
Vice President, Strategy
13 Yearsyrs
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Do you work as a Business Associate?

Business Associate Demographics

Gender

Female

58.8%

Male

38.1%

Unknown

3.0%
Ethnicity

White

56.0%

Hispanic or Latino

16.5%

Asian

12.9%

Black or African American

10.2%

Unknown

4.4%
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Languages Spoken

Spanish

44.7%

French

11.0%

Mandarin

6.8%

Chinese

5.9%

Italian

4.6%

Hindi

3.7%

Portuguese

3.7%

German

3.2%

Japanese

2.7%

Cantonese

1.8%

Urdu

1.8%

Korean

1.4%

Russian

1.4%

Albanian

1.4%

Polish

1.4%

Arabic

1.4%

Gujarati

0.9%

Malayalam

0.9%

Dakota

0.9%

Swahili

0.5%
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Business Associate Education

Schools

University of Phoenix

12.7%

Boise State University

9.3%

Fordham University

7.2%

Texas A&M University

6.3%

New York University

5.9%

Georgetown University

5.5%

Southern New Hampshire University

5.1%

Northeastern University

4.6%

University of Texas at Austin

4.2%

Duke University

4.2%

American InterContinental University

3.8%

Bergen Community College

3.8%

Columbia University

3.8%

University of North Carolina at Greensboro

3.4%

George Washington University

3.4%

Temple University

3.4%

University of Iowa

3.4%

University of Massachusetts Amherst

3.4%

Boston University

3.4%

Liberty University

3.4%
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Majors

Business

30.4%

Law

8.9%

Finance

8.5%

Accounting

7.5%

Management

4.6%

Marketing

4.6%

Communication

4.2%

Health Care Administration

4.1%

Psychology

3.3%

Computer Science

3.0%

Economics

2.6%

Nursing

2.6%

Political Science

2.6%

Human Resources Management

2.5%

Liberal Arts

2.4%

English

2.0%

Criminal Justice

1.6%

Information Technology

1.6%

Sociology

1.6%

General Studies

1.5%
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Degrees

Bachelors

39.5%

Masters

22.9%

Other

16.1%

Associate

9.0%

Doctorate

7.4%

Certificate

3.8%

Diploma

1.0%

License

0.4%
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Real Business Associate Salaries

Job Title Company Location Start Date Salary
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Aug 24, 2015 $190,000 -
$210,000
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Feb 15, 2016 $175,000
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Sep 26, 2015 $125,133 -
$200,000
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Sep 28, 2015 $125,133 -
$200,000
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Aug 24, 2015 $125,133 -
$200,000
Business Associate Citadel LLC New York, NY Apr 25, 2016 $125,000
Business Strategy Associate Mpg Operations LLC New York, NY Sep 09, 2016 $125,000
Business Associate Citibank, N.A. New York, NY Feb 02, 2016 $125,000
Business Integrity Associate Facebook, Inc. Austin, TX Jul 25, 2016 $125,000
Business Analytics, Associate Linkedin Corporation Sunnyvale, CA Aug 03, 2016 $123,000 -
$155,000
Business Analytics Associate Linkedin Corporation San Francisco, CA May 07, 2016 $121,222 -
$151,200
Business Analytics Associate Linkedin Corporation San Francisco, CA Jul 05, 2016 $121,222 -
$151,200
Associate, Advisory Business Perella Weinberg Partners Group LP New York, NY Aug 24, 2015 $120,000 -
$130,000
Associate, EIM Business Technology Datum LLC Newark, DE Jan 02, 2015 $120,000
Business Analytics Associate Linkedin Corporation Mountain View, CA Aug 10, 2015 $100,235 -
$155,000
Business Associate Cleveland Clinic Cleveland, OH Dec 29, 2015 $99,817
Associate, Business Analysis Dimensional Fund Advisors LP Austin, TX Sep 16, 2016 $99,757 -
$109,700
Business Associate Cleveland Clinic Cleveland, OH Mar 15, 2015 $98,296
Business Associate Cleveland Clinic Cleveland, OH Oct 03, 2015 $98,296
Business Associate Consultant ZS Associates, Inc. Princeton, NJ Dec 16, 2015 $98,000
Business Associate Consultant ZS Associates, Inc. Princeton, NJ Dec 15, 2015 $97,000
Associate, Business Analysis Dimensional Fund Advisors LP Austin, TX Apr 05, 2016 $96,000
Associate Engineer-Business Analytics and Monitoring Siemens Corporation Princeton, NJ Aug 26, 2015 $76,000
Associate-Business Analytics Jpmorgan Chase & Co. Chicago, IL Oct 13, 2016 $75,000 -
$100,000
Associate, Business Planning Sysmex America, Inc. Lincolnshire, IL Oct 11, 2015 $70,400
Associate, Business Planning Sysmex America, Inc. Lincolnshire, IL Oct 01, 2015 $70,400
Associate, Business Management Jpmorgan Chase & Co. Columbus, OH May 31, 2015 $70,200
Business Associate Consultant ZS Associates, Inc. New York, NY Sep 01, 2015 $70,000 -
$100,000
Business Restructuring Associate BDO USA, LLP New York, NY Feb 08, 2016 $70,000
Business Restructuring Associate BDO USA, LLP New York, NY Aug 02, 2016 $70,000

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Top Skills for A Business Associate

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  1. Financial Statements
  2. Customer Service
  3. Procedures
You can check out examples of real life uses of top skills on resumes here:
  • Interviewed clients, developed assumptions, modeled projected financial information and projected financial statements.
  • Secured hotel accommodations, performed customer requested changes to packages, handled payments/refunds and customer service activities.
  • Performed detailed SAS99 procedures to detect material misstatements in clients financial statements relating to misappropriation of assets and/or fraudulent financial reporting.
  • Reviewed business loan packages for completeness of financial documents and compliance with Credit Union Policy and NCUA regulatory requirements.
  • Assist Merchandising Category Assistants and Category Managers in fulfilling time-sensitive, data entry requests.

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