Are you looking for information about how to become a management analyst? You’ve come to the right place.
Management analysts serve a vital role in any organization. They are the ones who help companies find and analyze the right ways to improve efficiency and profits moving forward.
It is a fact that as companies expand and more organizations are set up, competition becomes greater. As such, each company has to find the best way to stand out from the crowd, become more competitive and sustain its success. And this is where the role of a management analyst or sometimes referred to as management consultants proves vital.
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A management analyst may be employed in an organization, part of a consulting firm with many other consultants or may be independent practitioners who can be hired by a company as a third party consultant when the need arises. Many companies today get a consultant on an “as needed” basis. For instance, they may hire an analyst only when a new department is created for the purpose of reorganizing the organizational structure and eliminate unnecessary positions.
The goal of a management analyst is to ensure the productivity of an organization. This professional looks into issues affecting the company such as gaps in productivity or redundant positions and makes recommendations on how to make the organization more efficient moving into the future.
Obtaining a bachelor’s degree is a basic requirement. Degrees you can consider are business (many management analysts have a business school degree), accounting, management, marketing, economics, computer and information science, information technology, human resources, engineering and statistics. This will enable you to be employed in an entry level position after graduation such as a research analyst or associate.
Once you have gained experience or even while working in an entry level post regardless of the industry you’re in, it would be ideal to pursue a master’s degree which is often required by many companies today. An MBA and other related disciplines will be most helpful.
Most companies, however, also require years of experience before they can promote the person to the position of management analyst or consultant. Another way you can improve your chances of moving to a higher position is by attending conferences that tackle the latest developments in your chosen field.
You may also obtain a certification to become a Certified Management Consultant ( CMC) although this is not mandatory. This, however, can add to your credential giving you a better opportunity for advancement in your career. The Institute of Management Consultants in the U.S. requires work experience, the minimum educational attainment and submission of client reviews as well as passing the interview and exam. This certification must also be renewed every three years moving forward.
If you’re passionate about becoming a management analyst, you can enjoy job security for many years to come. The Bureau of Labor Statistics reports that this job is projected to increase by 22 percent through 2016. And this covers various industries to include the health care and information technology.
Entry level analysts can expect to receive a yearly wage ranging from nearly $39,000 to more than $62,000. Those with years of experience and higher educational attainment have the opportunity of earning an annual income of $80,000 or more.
Now that you have more information about How to Become a Management Analyst you can now start to decide if this is a career path you’d like to pursue.