A Management Analyst is a business professional who analyzes the day-to-day operations of a company or business. This is done with the intent of maximizing profits and positive returns. They review budgets, policies, reports, and all documentation to find flaws and make research on ways to make them better.
They also work with the company’s vision at hand, as their major goal is to help her move towards its fulfillment.
Additionally, Management Analysts engage in teaching junior staff in the company on new policies and developments. They also contribute in board meetings on ways to move the company forward.
Some people can refer to them as Management Consultants, and as expected, they are to have several skills. These include analytical, communication, teaching, presentation, time management skills, among others. They are also people greatly moved by a desire to profer solutions to problems, not people who run away from problems.
Moreover, they do not head any office but work with data from several active departments in an organization.
Furthermore, these professionals are usually graduates of Business Administration, and mostly practice with a Master’s degree. To find out all you need to know, relax and keep reading.
Responsibilities of a Management Analyst
The duties of a Management Analyst are highly directed towards helping the company achieve its goals in every aspect. Some of their responsibilities are as follows:
Working together with external partners and business clients to analyze the company in terms of weakness and strength.
Crosschecking reports documents, budgets, etc during analysis.
Making contributions on how the company can move forward in board meetings.
Researching to find out ways of solving a company’s problems.
Attending conferences and programs to further gain knowledge on the field.
Making use of the results of the analysis in solving the company’s problems
Being part of meetings with investors, partners, and third parties.
Assessing reports after implementation of amended policies and new suggestions, to compare with former ones for any improvements.
Teaching and training junior staff and interns.
Performing other responsibilities than maybe be assigned by the employer.
Qualifications for practice as a Management Analyst
As earlier stated, Management Analysts must qualify to be useful in such positions. Some companies are strict to employ only Doctorate holders. Others might employ Master’s holders as well. The qualifications considered include:
Firstly, a Bachelor’s degree in Business Administration or a related field. Courses should include Business Management, accounting, Marketing, Information technology, and the like.
Secondly, a Master’s degree in Business Administration.
Thirdly, a Doctorate in Business Administration.
Also, more than three years of work experience in the field of auditing, or as an analyst.
Furthermore, a certification as a Management Consultant (CMC) is needed, from the Institute of Management Consultants USA (IMC USA)
In addition, employers also look out for other skills and competencies that are very useful for such a position. Some of them include:
Time management skills.
Project management skills.
Programming skills, among others.
Management Analysts earn well in the United States. As of 2021, they earn up to $156,840. It can also be around $97,000 in some places, depending on the company type and size. The educational level and extent of the experience of the staff also affect the amount of salary he or she will get.
Management Analysts can find relevance in different organizations. Some of these places include:
Health Care systems.
Commercial banks, among others.
These professionals also work full time, which is up to 40 hours a week, exclusive of weekends and public holidays.
Most Management Analysts usually start practicing with just Bachelor’s degrees. They usually advance both educationally and competence-wise on the job. The United States Bureau of Labor Statistics predicts a 10% increase in job openings by 2031.
The position of a Management Analyst is very important in every company or business firm. They employ knowledge of business analysis in every aspect to help a firm move forward and gain more profit.
Furthermore, it is a profession worth considering, especially if one is moved by adding value to others. It surely does provide an opportunity to influence an enterprise positively.