Career Profile: International Management Analyst
Why Is Management Analysis a Job of Tomorrow?
As businesses take on new challenges, management analysts will be needed more than ever to advise them 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 a lack of 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. Analysts may look over annual revenue and expenditure reports, as well as other relevant materials to search for places where excess spending can be cut so that more money can be diverted to high priority projects. 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. 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.