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Become A Principal Analyst

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Working As A Principal Analyst

  • 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

  • $116,397

    Average Salary

What Does A Principal Analyst 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 Principal Analyst

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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Principal Analyst jobs

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Average Length of Employment
Staff Analyst 3.8 years
Tool Analyst 3.8 years
Senior Analyst 3.3 years
Resource Analyst 3.0 years
Project Analyst 3.0 years
Principal Analyst 3.0 years
Management Analyst 3.0 years
Program Analyst 2.9 years
Analyst Lead 2.9 years
Design Analyst 2.8 years
Associate Analyst 2.5 years
Military Analyst 2.4 years
Analyst 2.4 years
Consultant 2.4 years
Solutions Analyst 2.4 years
Data Analyst 2.3 years
Strategic Analyst 2.2 years
Project Consultant 1.9 years
Analyst Internship 0.5 years
Top Employers Before
Consultant 6.8%
Analyst 6.3%
Manager 4.3%
Officer 3.0%
Top Employers After
Consultant 9.3%
Manager 4.6%
Supervisor 3.9%
Director 3.1%
Analyst 3.1%

Principal Analyst Demographics

Gender

Male

73.7%

Female

23.2%

Unknown

3.1%
Ethnicity

White

76.9%

Asian

12.1%

Hispanic or Latino

7.8%

Unknown

2.4%

Black or African American

0.9%
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Languages Spoken

French

21.9%

Spanish

18.8%

German

12.5%

Chinese

9.4%

Arabic

6.3%

Russian

3.1%

Dakota

3.1%

Cantonese

3.1%

Japanese

3.1%

Norwegian

3.1%

Burmese

3.1%

Carrier

3.1%

Cheyenne

3.1%

Mandarin

3.1%

Italian

3.1%
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Principal Analyst Education

Schools

George Washington University

11.0%

University of Phoenix

8.3%

Strayer University

7.3%

American University

5.5%

Johns Hopkins University

5.5%

Colorado Technical University

5.5%

George Mason University

5.5%

Texas A&M University

4.6%

Troy University

4.6%

National University

4.6%

University of Southern California

4.6%

Arizona State University

3.7%

Florida Institute of Technology-Melbourne

3.7%

Community College of the Air Force

3.7%

Harvard University

3.7%

Drexel University

3.7%

College of William and Mary

3.7%

Montana State University - Bozeman

3.7%

York College

3.7%

University of Maryland - University College

3.7%
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Majors

Business

22.9%

Finance

10.7%

Computer Science

9.6%

Management

9.1%

Accounting

5.0%

Economics

4.1%

Marketing

4.1%

Computer Information Systems

3.9%

Project Management

3.6%

Electrical Engineering

3.0%

Criminal Justice

2.8%

Political Science

2.8%

Supply Chain Management

2.8%

Management Information Systems

2.5%

Information Technology

2.5%

Education

2.2%

Public Administration

2.2%

Computer Engineering

2.2%

Physics

2.2%

Information Systems

1.9%
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Degrees

Masters

45.4%

Bachelors

26.1%

Other

12.8%

Doctorate

6.7%

Certificate

4.3%

Associate

3.9%

Diploma

0.7%

License

0.2%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Principal Analyst Salaries

Job Title Company Location Start Date Salary
Principal Analyst, Drilling QRI International, LLC Houston, TX Mar 11, 2015 $200,000
Principal Analyst Forrester Research, Inc. San Francisco, CA Jul 14, 2016 $170,000 -
$180,000
Principal Enterprisewide Analyst Infinera Corporation Sunnyvale, CA Aug 08, 2016 $152,122 -
$176,600
Principal Analyst, Marketing & Web Analytics Upwork, Inc. Mountain View, CA Aug 17, 2015 $145,000
Principal Analyst Upwork Inc. Mountain View, CA Aug 15, 2016 $145,000
Principal Analyst Distribution and Product Pedigree Hospira, Inc. Lake Forest, IL May 02, 2015 $140,796
Principal Analyst Statoil Gulf Services LLC Austin, TX Oct 19, 2016 $140,000
Principal Analyst, Applications Support T-Mobile USA, Inc. Bothell, WA Sep 10, 2015 $137,812
Principal Analyst Quality Management Staples, Inc. Seattle, WA Apr 15, 2016 $134,000 -
$140,000
Principal Specialist I-ERP Analyst/Sd Charles River Laboratories, Inc. Wilmington, MA Feb 23, 2015 $130,000
Principal Analyst Forrester Research, Inc. Miami Beach, FL Jun 05, 2016 $130,000 -
$200,000
Principal Analyst, Strategic Workforce Planning National Grid USA Service Company, Inc. Waltham, MA Mar 10, 2016 $128,400
Principal Analyst, Functional T-Mobile USA, Inc. Bellevue, WA Jun 01, 2015 $128,000 -
$138,000
Principal Analyst/Solutions Processing Expert Finance Mondelez Global LLC East Hanover, NJ Aug 11, 2015 $111,968
Principal Analyst IHS Global Inc. Houston, TX Apr 23, 2015 $110,569
Principal Analyst Bristol-Myers Squibb Company Pennington, NJ Mar 02, 2015 $110,000
Principal Analyst, Data Science Liberty Mutual Group Inc. Boston, MA Dec 12, 2016 $110,000
Principal Analyst E.R. Squibb & Sons, LLC Wallingford, CT Nov 22, 2016 $109,970
Principal Analyst Gpve Bristol-Myers Squibb Company New Brunswick, NJ Aug 17, 2015 $107,120
Principal Analyst, SAP Logistics & Operations Mondelez Global LLC East Hanover, NJ Apr 23, 2015 $107,100
Principal Analyst, Clinical Data Programming Quintiles, Inc. Durham, NC May 24, 2016 $107,000
Principal Analyst, Clinical Data Programming Quintiles, Inc. Durham, NC Nov 16, 2016 $98,468
Principal Analyst, Customer Analytics Staples, Inc. Framingham, MA Sep 14, 2015 $98,000
Principal Health Service Analyst Mayo Clinic Rochester, MN Jan 02, 2015 $97,760
Principal Workflow Analyst National Medical Care, Inc., A Fresenius Medical Care N.A. Company Lexington, MA Sep 23, 2016 $96,816
Principal Analyst Quality Management Staples, Inc. Framingham, MA Dec 04, 2016 $96,704
Principal Analyst Terumo BCT, Inc. Lakewood, CO Jan 12, 2016 $96,678 -
$115,000
Principal Analyst Bristol-Myers Squibb Company Princeton, NJ Jun 09, 2016 $95,829

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Top Skills for A Principal Analyst

ProceduresFinancialAnalysisDataCollectionStrategyLogisticsSupportWebDODPolicyProjectManagementSQLServerTechnicalAssistanceAuditERPSafetyAssuranceBusinessDevelopmentBusinessProcessManagementSystemRAsset

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Top Principal Analyst Skills

  1. Procedures
  2. Financial Analysis
  3. Data Collection
You can check out examples of real life uses of top skills on resumes here:
  • Conducted staff assistance visits to evaluate effectiveness of internal controls and assist with local procedures.
  • Led financial analysis and modeling segment of 6-month redesign of customer communications processes and systems in Fortune 100 financial services conglomerate.
  • Developed processes that optimized efficiency in data collection and presentation.
  • Created the acquisition strategy for a beverage manufacturer looking to diversify their product portfolio.
  • Provided logistics support to the Missile Defense Agency.

Top Principal Analyst Employers