A management analyst investigate ways to help an organization reduce costs, increase revenue, and become more profitable. They advise management on various ways to improve efficiency. Most management analysts work on a consultant bases however, some may be employed through the company they are analyzing.
Marketing analysts travels frequently in order to meet clients as well as attend conferences and often work more than 40 hours a week. A management analyst is also referred to as a management consultant.
How to become a Management Analyst
Management analysts need to have a bachelor's degree but since only a few colleges or universities offer formal programs in management consulting there are many fields of study that provide acceptable education because of the wide range of areas that this occupation addresses. These fields of study would include economics, management, finance, business, political science and government, marketing, accounting, computer and information science, psychology, and English.
Some employers require applicants to have a master's degree in business administration (MBA). It is not mandatory for a management analyst to be certified however, it may be advantageous for one seeking employment in a competitive market.
The Institute of Management Consultants USA (IMC USA) offers the Certified Management Consultant (CMC) designation. One must meet minimum levels of education and experience, provide client reviews, and pass an interview and exam covering the IMC and USA's code of ethics and must be re-certified every 3 years.
Job description of Management Analysts
A management analyst has a variety of duties that may vary from project to project and may require he or she to work with a team of consultants that would each have a specialized area, like inventory management or reorganizing corporate structures. Others may specialize in a specific industry such as telecommunications, healthcare, or in a specialized agency for the government.
A management analyst would have the tasks of developing strategies for entering and remaining competitive in the current marketplace. They collect data and organize information about improving procedures and solving a particular problem. They conduct interviews with personnel and carry out on site observations to determine what personnel, methods, and equipment would be required to make improvements.
Management analyists investigate and analyze financial and other data including expenditure, employment reports, and revenue. They provide solutions, alternative practices, recommend new procedures, systems, or organizational changes. He or she offers management written reports and presentation on their findings and recommendations and ensure the changes are working.
A management analyst that is contractual would need to write proposals and bid for jobs to meet the deadline explaining costs, time estimates deadlines, how will the work be done, who will do the work, and why they are the best management analyst for the job.