How to become a management analyst

At a glance

• Management analysts gather data, analyze it and develop strategies to improve company operations.
• To become a management analyst, applicants must generally have a bachelor’s degree in a related field, although a master’s degree is sometimes required.
• Employment for management analysts is projected to grow by 11% from 2021 to 2031, according to the U.S. Bureau of Labor Statistics.
• Discover how the Bachelor of Science in Business with a Business Analytics Certificate can prepare you for this and other roles in the business world.

Management analysts or management consultants help companies find new ways to improve their efficiency. Daily, they work directly with companies to help solve problems with operations, personnel and financial data. They develop strategies and collect data on an organization’s behalf to analyze ways for leadership to improve company performance.

What does a management analyst do?

Management analysts gather and analyze data, then use the information to implement the best strategies for companies to improve their success. People with good communication skills and a penchant for analytical thinking are good candidates for a management analyst consultant role. It’s important that they are able to convey thoughts clearly both in person and in writing. Problem-solving and time-management skills are also important in this role.

Successful management analysts should also have skills in data analysis. This means having the ability to gather information, analyze it and draw conclusions to share with company leaders. The conclusions from these actions often become the growth strategies that help a company improve performance and grow.

Management analyst salary

As of May 2021, the U.S. Bureau of Labor Statistics (BLS) reported management analysts made between $50,190 and $163,760 annually. However, the median salary depends on a few factors, including your education, years of experience, location and your employer’s compensation structure. For example, management analysts working at consulting firms are often paid both a base salary and a yearly bonus. By contrast, freelance analysts are typically paid by clients directly. Contracted analysts are sometimes paid per project, or per hour, until their contract is completed or renewed.

Management analyst job outlook

Employment for management analysts is projected to grow by 11% from 2021 to 2031, according to BLS. Behind increasing demands for consulting services, an estimated 101,900 open positions are projected to be created each year.

Many companies across different industries typically hire management analysts for remote work or on-site positions for the same reason: to increase efficiency. Companies in virtually every sector want to find ways to operate more effectively, reduce waste, better use their resources and track their competition. Many organizations either have or will have this goal, making this career path a fairly secure option.

How to become a management analyst

Management analyst positions offer a wide range of rewarding opportunities. Before you can take advantage, though, you’ll first need to complete a few steps to gain the right blend of education and experience. This will help prepare you for long-term success in the field.

Earn a degree

One of the first steps to becoming a management analyst is obtaining a bachelor’s degree. Many employers prefer candidates with at least a four-year degree, like a bachelor’s degree in business, social science or a related field. However, some employers prefer applicants with a master’s degree in business administration. 

Is becoming a management analyst right for you?

A management analyst position can be rewarding if you enjoy helping others find success. As mentioned, you’ll need skills in data analysis, interpersonal communication, time management and problem-solving. Many management analysts are communicative people who are comfortable discussing difficult topics with their clients or employers.

If this sounds like you, it might be time to consider a management analyst role.

Choosing a career in this field means helping companies solve a wide range of challenges. You’ll spend time helping others diagnose, troubleshoot and overcome some of the largest obstacles they face. If you like a challenge — one that often requires regular communication, data analysis and teamwork — management analysis might be a field for you.

According to BLS, the role of management analysts is similar to occupations such as operations research analysts and business analysts. University of Phoenix educationally prepares for operation research analyst and business analyst roles with the Bachelor of Science in Business with a Business Analytics Certificate.

Earn a business degree from University of Phoenix

University of Phoenix does educationally prepare for roles such as business analyst, data analyst and business intelligence analyst. After you have prepared for one of these roles, you can then look into becoming an analyst or consultant.

If you’re looking to learn more about more online business programs that prepare students with skills for a variety of career paths, including management analysis, consider a program at University of Phoenix.

• Associate of Arts with a concentration in Business Fundamentals — From management to accounting, skills learned in this program are essential for anyone looking to advance in their business education. 
• Bachelor of Science in Business — Knowledge of the ins and outs of running a business can spell the difference between success and failure in a competitive business world. 
• Master of Business Administration — Prepare for higher leadership roles in an organization. This degree program can prepare graduates for careers as business managers, operations directors and more.
• Master of Management — Advance your understanding of business organization and management. This degree program is perfect for those with experience in the workforce who are looking to take on greater leadership roles. 
• Doctor of Business Administration — Expand your understanding of organizations, work environments and industry. This program invites participants to delve into cutting-edge research in the field of business and develop skills for solving complex organizational problems.