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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:
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.
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.
|Job Title||Company||Location||Start Date||Salary|
|Financial Management Analyst||Sandeep Diamond Corporation||New York, NY||Feb 15, 2016||$150,000|
|Financial Management Analyst||Sandeep Diamond Corporation||New York, NY||Feb 15, 2010||$145,000|
|VP, Financial Quantitative Portfolio Management Analyst||Barclays Bank PLC||New York, NY||Jan 04, 2016||$135,000 -
|Financial and Management Analyst||Heart To Heart Transportation Inc.||Chelmsford, MA||Sep 11, 2015||$134,410|
|Financial Management Analyst||Sandeep Diamond Corporation||New York, NY||Feb 15, 2013||$132,500|
|Infor M3 ERP Financial Management Analyst||Georgia-Pacific Building Products LLC||Atlanta, GA||May 09, 2016||$110,000 -
|Infor M3 ERP Financial Management Analyst||Georgia-Pacific Building Products LLC||Atlanta, GA||May 15, 2015||$100,000 -
|Hyperion Financial Management Support Analyst||IBM India Private Limited||Mountain View, CA||Aug 18, 2014||$98,155|
|Infor M3 ERP Financial Management Analyst||Georgia-Pacific LLC||Atlanta, GA||Sep 30, 2013||$96,000 -
|Financial Risk Management Analyst||Milliman, Inc.||Chicago, IL||Mar 04, 2015||$95,630|
|Lead Consultant/Financial Management Analyst||Capgemini Financial Services USA Inc.||New York, NY||Oct 05, 2016||$94,640|
|Lead Consultant/Financial Management Analyst||Capgemini Financial Services USA Inc.||New York, NY||Aug 30, 2013||$90,085 -
|Financial Management Analyst||The Board of Trustees of The Leland Stanford, Jr.||Stanford, CA||Dec 05, 2011||$74,700|
|Financial Management Analyst II||Duke University and Medical Center||Durham, NC||Mar 01, 2014||$73,900|
|Financial Management Analyst II||Duke University and Medical Center||Durham, NC||Mar 07, 2014||$73,900|
|Financial Management Analyst II||Duke University and Medical Center||Durham, NC||Feb 21, 2014||$73,900|
|Accounting & Financial Management Analyst||Fashion Business Corp.||New York, NY||Aug 17, 2014||$72,946|
|Financial Management Analyst II||Duke University and Medical Center||Durham, NC||Nov 01, 2012||$72,654|
|Financial Management Analyst (Public Sector)||Development Gateway||Washington, DC||Sep 27, 2011||$72,000|
|Financial/Management Analyst & Project Management Officer||V2V Securities, LLC||New York, NY||Sep 13, 2016||$60,000|
|Financial Management Analyst (FOR Film Projects)||Mambo Inc.||CA||Feb 10, 2010||$60,000|
|Financial Management Analyst||Cantor Fitzgerald, LP||New York, NY||Aug 15, 2016||$60,000|
|Financial Management Analyst||Yorkia Group Inc.||Boston, MA||Sep 25, 2010||$60,000|
|Financial Management Analyst||Cantor Fitzgerald, LP||New York, NY||Aug 15, 2015||$60,000|
|Hyperion Financial Management/Financial Analyst||Saturn Infotech Inc.||North Wales, PA||Sep 01, 2015||$60,000|
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