Number of Jobs
|This Job is Ranked in|
|Best Business Jobs||#14|
|The 100 Best Jobs||#67|
Management analysts or consultants are typically hired to find ways to improve an organization’s efficiency and increase profits. "We want to help make the client better at what they do," says Mel Wolfgang, partner and managing director at The Boston Consulting Group, a global management consulting firm. "Part of giving good advice to clients is about looking at problems that a client might be having with a really fresh prospective, and you need to be really intellectually curious to think through that process at many different angles." Management analysts collect and analyze data about how a company works, then recommend changes that will decrease costs or boost revenue. Consultants often present their suggestions as a written report and oral presentation, which can help companies implement their recommendations.
Management analyst employment is expected to grow by more than 18 percent between 2012 and 2022, according to Bureau of Labor Statistics projections. The BLS also estimates that 133,800 consultant jobs will need to be filled over the coming decade.
The median annual wage for management analysts was $78,600 in 2012, according to the BLS. The highest-paid in the field made $142,580 per year, while the bottom 10 percent made $44,370. The best-paying jobs for consultant work are in Taunton, Mass., Naples, Fla., and Santa Cruz, Calif.
A bachelor's degree is required for most entry-level positions, but many employers prefer to hire people with a master's degree in business administration. A certified management consultant certificate may improve job prospects. Additional years of experience in the field the worker plans to provide consulting services to may also be required.
"We tend to get brought into situations when there are particularly intractable issues or concerns that aren’t easily solved over the course of an organization’s development. You need to know how organizations work and how companies work, and you have to like solving problems and fixing things," says Peter Aman, managing partner of business consulting firm Bain & Company's Atlanta office. "You need to have a sharp analytical mind and the ability to establish frameworks and analyze things in an efficient manner and bring data to bear." Management analysts also need to communicate proposed solutions to other consultants and clients. "You work in a team at the consulting firm, and then you work in a larger team in partnership with your client," Aman says.
|Upward Mobility||fair Average|
|Stress Level||poor Above Average|
|Flexibility||poor Below Average|
Last updated by Stephanie Steinberg.