Should I Consider Becoming a Management Analyst?

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Should you become a management analyst? Let’s start by considering what a management analyst does. These workers are also called management consultants and they are either company employees or are independent analysts who are contracted to come into an organization and propose ways to improve efficiency. They advise managers how to make organizations more profitable through reducing costs and increasing revenues.

Their duties include gathering and organizing information about problems that need to be resolved and addressing procedures that need improvement. They conduct interviews of personnel and make observations on site to determine methods, equipment and the people needed to make improvements. They analyze financial data such as expenses, employee reports, and revenue sources to develop solutions to alternative practices.

Then, they recommend new procedures, organizational changes, if required, and systems to implement. They bring this information to managers through presentations and written reports and communicate with the managers throughout the process to see how the changes are working. Some projects require a team of experts where each person specializes in a specific area. Some management analysts specialize in inventory management, and reorganizing corporate structures to eliminate duplication and non-essential jobs. Some might specialize in healthcare, telecommunications, government and different types of agencies. Sometimes they propose or bid on jobs.

The time spent in the field is typically split between the client’s location and the analyst’s own office. Some companies will require frequent travel.

What Education is Required?

According to the Bureau of Labor Statistics, at least a bachelor’s degree is required with the median pay scale around $78,000 and 19% growth from 2012 to 2022. Common fields of study are business, management, economics, political science, government, accounting, finance, marketing, psychology, computer and information science and English. In your job, expect to attend conferences, so you can keep up to date on current developments in your field.

There are some companies that prefer you to obtain a master’s degree before applying and may even ask you if you are a Certified Management Consultant (CMC). Obviously, ensuring that the college you choose to go to is accredited is crucial.

When making the choice on which college to attend, ask questions and make sure that college can give you the answers you want to hear regarding curriculum and lifestyle. Ask about financial assistance and what may be available to you. You may have the choice to attend classes online with some schools if that fits your needs better, while others may not have any options at all, and others have something in between.

Ask others questions who may already be in the field regarding the best schools to attend. You may receive some insight on this issue, if you go straight to the source. This is a career choice that will pay off nicely, but only if you land the ideal job that your degree prepares you for. This is why it is essential to do advance preparation and to analyze the curriculum to see if it meets your job position’s requirements. Take an educated step forward…you won’t regret it.