Management analysts held about 876,300 jobs in 2018. The largest employers of management analysts were as follows:
| Professional, scientific, and technical services | 30% |
| Self-employed workers | 18 |
| Government | 16 |
| Finance and insurance | 11 |
| Management of companies and enterprises | 5 |
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 when trying to meet a client’s demands, often on a tight schedule.
Work Schedules
Analysts often work many hours under tight deadlines. Some work more than 40 hours per week.
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, accounting, finance, marketing, psychology, and computer and information science.
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. Consulting is a wide field, and there are consultants who specialize in virtually every sector of the economy. Therefore, work experience varies widely and can include experience as an accountant or auditor, computer systems analyst, or market research analyst.
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 non-consulting organizations.
Management analysts typically have an interest in the Thinking, Persuading and Organizing interest areas, according to the Holland Code framework. The Thinking interest area indicates a focus on researching, investigating, and increasing the understanding of natural laws. The Persuading interest area indicates a focus on influencing, motivating, and selling to other people. The Organizing interest area indicates a focus on working with information and processes to keep things arranged in orderly systems.
If you are not sure whether you have a Thinking or Persuading or Organizing interest which might fit with a career as a management analyst, you can take a career test to measure your interests.
Management analysts should also possess the following specific 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.
The median annual wage for management analysts was $85,260 in May 2019. 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 $49,700, and the highest 10 percent earned more than $154,310.
In May 2019, the median annual wages for management analysts in the top industries in which they worked were as follows:
| Professional, scientific, and technical services | $91,160 |
| Finance and insurance | 84,940 |
| Management of companies and enterprises | 84,390 |
| Government | 79,720 |
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 either by the hour, or per project.
Analysts often work many hours under tight deadlines. Some work more than 40 hours per week.
Employment of management analysts is projected to grow 14 percent from 2018 to 2028, much faster than the average for all occupations. Demand for consulting services is expected to grow as organizations seek ways to improve efficiency and control costs. As markets become more competitive, firms will need to use resources more efficiently.
Demand for management analysts is expected to be strong in healthcare. This industry segment is experiencing higher costs in part because of an aging population. In addition, more management analysts may be needed to help navigate the regulatory environment within health insurance.
Information technology (IT) consultants are also expected to see high demand. Businesses will seek out consulting firms to help them attain a high level of cyber security, and make sure their IT systems are efficient and up to date.
Growth will 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 will also seek the services of management analysts as they look for ways to reduce spending and improve efficiency.
Job Prospects
Jobseekers may face strong competition for management analyst positions because the high earning potential in this occupation makes it attractive to many jobseekers. Job opportunities are expected to be best for those who have a graduate degree or a certification, specialized expertise, fluency in a foreign language, or a talent for sales and public relations.
For more information about the Certified Management Consultant designation, visit
Institute of Management Consultants USA
For more information about certifications in management consulting, visit