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Management analyst hiring summary. Here are some key points about hiring management analysts in the United States:
Here's a step-by-step management analyst hiring guide:
A management analyst is responsible for monitoring the efficiency and effectiveness of management operations, providing strategic advice and procedures to improve its services, and building excellent relationships with customers and business partners. Management analysts identify business opportunities that would help the business generate more revenues and meet long-term profitability goals. They develop techniques in maximizing productivity and optimization, recommending new systems, and upgrading existing processes. A management analyst must have excellent critical thinking and communication skills, especially when evaluating complex data and performance reports.
Before you start hiring a management analyst, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A management analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, management analysts from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
The following list breaks down different types of management analysts and their corresponding salaries.
| Type of Management Analyst | Description | Hourly rate |
|---|---|---|
| Management Analyst | Management analysts, often called management consultants, propose ways to improve the efficiency of an organization. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. | $23-47 |
| Process Analyst | A process analyst is also known as an operations research analyst, who evaluates in detail the steps in producing products and making important decisions as well as providing recommendations on how to enhance them. They are IT specialists that analyze the business process and workflows to determine how they can be computerized and improved... Show more | $23-51 |
| Product Analyst | A product analyst job utilizes data analysis software and notates trends in market research. Primarily, analysts project the costs of product development and marketing... Show more | $26-53 |
Including a salary range in the management analyst job description is a good way to get more applicants. A management analyst salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a management analyst in Kentucky may be lower than in New Jersey, and an entry-level engineer typically earns less than a senior-level management analyst. Additionally, a management analyst with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | District of Columbia | $90,112 | $43 |
| 2 | New Jersey | $88,484 | $43 |
| 3 | Massachusetts | $86,350 | $42 |
| 4 | New York | $85,571 | $41 |
| 5 | Connecticut | $83,791 | $40 |
| 6 | Washington | $82,413 | $40 |
| 7 | Illinois | $76,079 | $37 |
| 8 | Virginia | $76,044 | $37 |
| 9 | North Carolina | $74,763 | $36 |
| 10 | California | $73,965 | $36 |
| 11 | Pennsylvania | $72,390 | $35 |
| 12 | Delaware | $71,319 | $34 |
| 13 | Ohio | $70,852 | $34 |
| 14 | Colorado | $69,348 | $33 |
| 15 | Minnesota | $68,002 | $33 |
| 16 | Missouri | $66,276 | $32 |
| 17 | Georgia | $65,101 | $31 |
| 18 | Texas | $63,973 | $31 |
| 19 | Indiana | $61,453 | $30 |
| 20 | Arizona | $59,859 | $29 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | The Citadel | $151,314 | $72.75 | 5 |
| 2 | L.E.K. Consulting | $146,775 | $70.56 | |
| 3 | McKinsey & Company Inc | $139,487 | $67.06 | 82 |
| 4 | Bain & Company | $138,617 | $66.64 | 16 |
| 5 | Mayo Clinic | $137,887 | $66.29 | 14 |
| 6 | Boston Consulting Group | $134,429 | $64.63 | 7 |
| 7 | A.T. Kearney | $130,261 | $62.63 | 1 |
| 8 | Western Digital | $127,234 | $61.17 | 13 |
| 9 | Meta | $124,422 | $59.82 | 124 |
| 10 | PayPal | $123,489 | $59.37 | 19 |
| 11 | Apple | $119,532 | $57.47 | 41 |
| 12 | $117,724 | $56.60 | 112 | |
| 13 | Intuit | $116,298 | $55.91 | 68 |
| 14 | Gibson Consulting | $115,376 | $55.47 | |
| 15 | Cargill | $115,104 | $55.34 | 21 |
| 16 | Genentech | $114,889 | $55.24 | 9 |
| 17 | Yahoo | $114,553 | $55.07 | |
| 18 | Slalom | $114,540 | $55.07 | 62 |
| 19 | ConocoPhillips | $113,956 | $54.79 | |
| 20 | Federal Energy Regulatory Commission | $113,038 | $54.35 |
A management analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a management analyst job description:
There are a few common ways to find management analysts for your business:
Your first interview with management analyst candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the management analyst candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new management analyst. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Before you start to hire management analysts, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire management analysts pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for management analysts is $69,804 in the US. However, the cost of management analyst hiring can vary a lot depending on location. Additionally, hiring a management analyst for contract work or on a per-project basis typically costs between $23 and $47 an hour.