International Management Analyst
Why Is Management Analysis a Job of Tomorrow?
In every industry, whether it is a non-profit organization, school, or healthcare facility, there is a business aspect that must be attended to in order to ensure efficiency. As a result, these industries need employees with substantial expertise in business knowledge and skills. With some of the fastest growing industries in the country, the business sector is expected to grow by 23.3 percent by 2016, adding more than 4.1 million new jobs to the market, according to the Bureau of Labor Statistics. As businesses large and small continue to grow, management analysts will be needed more than ever to advise organizations on the best choices to make in terms of structure and policy to improve profit and efficiency. Employment opportunities for management analysts are expected to increase 22 percent by 2016, a much faster rate than the national average, according to the Bureau of Labor Statistics. Management analysts make an average salary of $68,050 annually.
What Does a Management Analyst Do?
Management analysts are responsible for ensuring that a company is run as smoothly and efficiently as possible. They can work in a variety of settings, from small businesses to large corporations. Management analysts often perform duties that are highly specific to the field in which they are working. Analysts are often hired by companies to solve a particular problem, such as companies that lack the internal resources needed to complete a project. Analysts will observe the situation, review the information they gather, and then develop a strategy to combat the problem to recommend to the client. In the case of lacking internal resources to complete a project, analysts may look over annual revenue reports, expenditure reports, and other relevant materials to search for places where excess spending can be cut so that more money can be diverted to the project. Most of the recommendations are done in writing, though some management analysts also prepare oral reports for their clients.
What Kind of Training Do I Need to Become a Management Analyst?
Management analysis is a complex field that requires extensive knowledge of business and finances. In some entry-level positions, a bachelor’s degree in business administration is sufficient, but many employers seek applicants with at least a master’s degree in the field. A bachelor’s degree takes four years to complete, and a master’s degree takes an additional two to three years to complete after first obtaining a bachelor’s degree. Business administration courses cover management techniques, finance, and other related topics. Prospective management analysts also must have substantial professional working experience in management, human resources, or another related field. Certification is not necessary, but those looking to increase their marketability may become certified with the Institute of Management Consultants USA, Inc.
