On both undergraduate and graduate levels, business school is the most popular choice for col15-lege students. These degrees prepare students for work in the exciting and fast-paced business industry, from financial management positions to administrative careers. In spite of the recent economic recession, the industry is growing rapidly, with new jobs becoming available for qualified candidates. In fact, the U.S. Bureau of Labor Statistics (BLS) predicts a more than 22% growth of the business industry as a whole through the year 2020. One particular position benefiting from industry growth is that of the management analyst.
Management analysts can enter the field with bachelor’s degrees in related business fields. For an additional credential, hopefuls may pursue a Certified Management Consultant (CMC) title as proof of expertise and skill. In these positions, analysts are responsible for examining and understanding a company or corporation’s data to determine its efficiency in terms of finances and organization. Because companies are always looking to solutions for continued success via increased profits and reduced spending, management analysts are high in demand as they are able to present company managers with strategies for achieving such success. Experienced management analysts collect information from a corporation, either regarding a particular issue or in search of over-all improvement. Through analysis of data and first-person accounts from employees and management, analysts can make recommendations of new policies or procedures in order to help a company achieve its pre-determined goal.
More than 22% of these professionals were self-employed as of the 2010 BLS report, indicating a significant portion of management analysts working on a freelance or referral-driven foundation. Many analysts travel frequently for work, diagnosing companies all over the country, typically on a contractual basis. Management analysts earn a median annual salary of more than $78,000.
A job growth rate of approximately 22% is expected through the year 2020, as more than 150,000 new jobs will become created. By that time, it is anticipated that 876,000 management analysts will be employed in both pubic and private sector careers.The past few years have seen a great deal of new companies emerge as the “startup” trend caught on among both new-comers and veterans of the business world; these companies in particular will be a large source of management analyst positions as they strive to compete in the industry. Additionally, international corporations will contribute to the job growth as U.S.-based businesses expand abroad and seek to generate interest from new demographics. Likewise, many companies are expected to begin or continue appealing to the “green” initiative and may contract analysts for these purposes as well. Because of the appeal and high earning potential of this position, extra credentials such as graduate degrees and CMC designations will suit job-seekers well.