Management analyst: Learn more about the career

Effective management is a core need for all businesses. Strong leadership allows companies to address concerns and seize opportunities efficiently and consistently. These skills are vital for continued relevance and growth in any business.

Business management is a high-stakes endeavor, having influence on the health of the enterprise. For this reason, leaders sometimes turn to experts outside their organization to analyze and improve their processes and workflows. This is where management analysts come into play. The management analyst job description starts with an in-depth review of operations. Analysts then consider the data gathered and make informed suggestions for positive change.

Analysts may specialize in a certain area, such as the supply chain. They may also broadly analyze data across a company. The end goal is the same: identify a variety of issues and potential changes to help a company improve operations.

Learn more about this role by answering some common questions about the management analyst job description.

A management analyst stands in a conference room with clients seated at the table.

What is the best course of action to take when studying management analytics?

 

In most cases, a mix of formal education and career experience is required for management analysts. A specialized degree can help analysts develop the knowledge and skills they need.

The management analyst position is built on a solid education. O*Net Online reported 96% of management analysts have a bachelor’s degree or higher. Nearly half go on to earn a master’s degree. A major related to accounting, business or finance can provide the necessary background.

More specific degrees, like a Bachelor of Science in business data analytics or a Master of Science in business analytics, offer additional emphasis on the analytical talents that are so crucial to the management analyst job description. Students in the Bachelor of Science in business data analytics program dedicate many credit hours to business analytics courses. Key topics can include:

  • Big data analytics in business.
  • Business data analytics.
  • Business data mining.
  • Business data warehouses and dimensional modeling.
  • Enterprise analytics.
  • Information systems.

A Master of Science in business analytics program offers a similarly targeted focus. Students spend significant time on topics like:

  • Analytical decision-making tools.
  • Business analytics strategy.
  • Data-driven quality management.
  • Enterprise analytics.
  • Marketing analytics.

The abilities learned in both programs provide the knowledge and professional tools needed for success in a management analyst role.

A management analyst job description will also often call for work experience. Managerial and supervisory roles are especially relevant in this context. Management analysts generally need firsthand experience with businesses to provide actionable advice that helps them operate more efficiently.

The role of data management consultants

Business analytics degrees are especially valuable for graduates interested in a data management consultant role. This position is often seen as a subset of the management analyst career. This field is centered around improving the storage and use of data. Professionals offer support in complicated areas like data governance and master data management.

Data is increasingly important to businesses; however, many companies don’t have the in-house ability to properly oversee and use it. That makes effective management a growing priority.

A management analyst shares a report with clients.

How much does a management analyst make?

 

The management analyst job description requires many competencies and, potentially, long hours. However, it also provides competitive pay. The U.S. Bureau of Labor Statistics reported the median salary for management analysts was $85,260 in 2019. This is more than double the median annual pay for all workers in 2019, which was $39,810.

Management analyst salaries can be substantial for many reasons, including:

  • In-demand abilities and knowledge.
  • Many years of professional experience.
  • Strong educational background.

Pay can differ to an extent based on the industry in which an analyst works. Analysts focusing on;
professional, scientific and technical services earned a median salary of $91,160 in 2019. Those working with governments earned a median salary of $79,720. Salary can also vary based on experience, location and other factors. The lowest 10% of earners in the field made less than $49,700, while the top 10% earned salaries of more than $154,000.

Are management analyst jobs in demand?

 

Management analysts are in high demand. The Bureau of Labor Statistics projected an employment increase of 14% between 2018 and 2028 for the role. That’s substantial compared to the average growth rate for all jobs, which is projected to be only 5%. The BLS predicted more than 118,000 new positions in the field will emerge by 2028.

Companies that want general or specialized help improving operations know they can turn to management consulting services for assistance. The vast opportunities available help explain the high demand for these professionals.

What does a day in the life of a management analyst look like?

 

An average day for a management analyst can be hard to define. Management analysts generally work for consulting firms or are self-employed. That means they may consult for a variety of clients on projects with many different objectives.

Management analysts can focus on a variety of projects as part of their day-to-day responsibilities. Examples include change management and data transformation projects, among others. These projects are crucial for the analyst’s clients to continue operating smoothly. Successful adjustments and improvements are what keep companies relevant in their industry and the broader economy despite significant and sometimes rapid change.

Accenture shared a detailed review of a day in the life of one of its management consultants.      Catching up on email correspondence and reviewing recent news about clients are common ways to start the day. Other common tasks for this profession include:

  • Hosting or attending meetings.
  • Producing reports, analyses and presentations.
  • Recommending new systems, methods and equipment to stakeholders.
  • Researching relevant strategies related to resource and time management. 

What are some key abilities for management analysts?

 

A management analyst job description may call for abilities like:

  • Consistent data gathering, both through technology and discussions with stakeholders.
  • Deep knowledge of common management issues and best practices.
  • Expertise with analytical, planning and many other types of software.
  • Strong written and oral communication.

Management analysts make crucial determinations about all sorts of business practices. While clients aren’t required to use the analyst’s suggestions, the clients’ value of those suggestions stems from confidence in the analyst’s abilities and background. Therefore, clients likely have an especially keen interest in an analyst’s abilities.

Degrees that may help you become a management analyst

 

A relevant college degree represents a crucial step toward becoming a management analyst. Finding the right program is vital to your professional journey.

The W. P. Carey School of Business at Arizona State University offers both a bachelor’s and master’s degree online that can help you develop the necessary competencies for entering the management analyst field:

  • Undergraduates can earn a Bachelor of Science in business data analytics. This degree can be an early and important step toward a management analyst role. Graduates are then prepared to build relevant professional experience and continue on to further study.
  • Graduate students can earn a Master of Science in business analytics. This program can help students develop the expertise necessary to take on management analyst roles.

ASU Online connects students across the globe with leading faculty, high-quality courses and a suite of student support services to provide an unparalleled educational experience.

Sources:
ASU Online — Business Data Analytics (BS) Fact Sheet (offline document)
ASU Online — Business Analytics (MSBA) Fact Sheet (offline document)
ASU Online — Online Bachelor of Science in Business Data Analytics
ASU Online — Online Master of Science In Business Analytics
ASU Online — Explore the Career Path of a Management Analyst
ASU Online — Management Analyst: Learn More About the Career
Management Analysts by O*NET OnLine
Management Analysts by U.S. Bureau of Labor Statistics
A Day in the Life of an Accenture Analyst by Accenture
SAS Data Management Consulting by SAS

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