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Projected Job Growth: 22%
Projected Employment Change: 157,200
These business experts help organizations become more productive and efficient by providing advice to management on how they can increase profits while reducing costs. To do this, they must collect information about issues or problems that an organization needs solved.ÿThis includes the analyzation of data concerning finances, employment reports, and more. They also develop solutions, recommend organizational changes, and keep track of recommended changes to ensure they are productive.ÿWhile some of these types of analysts work directly for companies others act as consultants and work on a case-by-case basis, either individually or in teams. The U.S. Bureau of Labor Statistics (BLS) projects that employment in this occupation will increase faster than average for all occupations, as indicated in the figures above, making itÿa field full of opportunity.
Why Management Analysis?
Many people are drawn to management analysis because of its high earning potential. According to the BLS, management analysts earned a median annual wage of $78,160 in May 2010. With more and more organizations looking to keep costs down and increase efficiency, the need for those who can provide consulting services is expected to grow. Management analysts will be in demand as more "green" initiatives are implemented and a higher number of organizations begin to engage in international business and enter foreign markets. As with most careers, with work experience come advancement opportunities. Senior level consultants have the opportunity to manage teams or become partners at a consulting organization.
Getting Into Management Analysis
To become a management analyst, one must have at least a bachelor’s degree, preferably in a business-related area, although a master’s degree in business administration can also be beneficial. Those who wish to earn an MBA without sacrificing valuable work experience may want to look into online graduate degree programs. There are a wide range of schools with online degree programs and business administration is often a popular choice. In addition, earning a Certified Management Consultant designation may also prove to be a useful credential.