A management analyst is an expert at business management. Their primary purpose is to predict how to improve upon an agency or organization’s efficiency. They also focus on the best ways for a business or organization to increase revenue and reduce cost. Management analysts tend to work more as independent contractors than in employment positions, but many do work for one company or organization as well.
The requirements for a management analyst include a Master’s degree in Finance, Business, or Economics if you plan to work in the private sector. An M.B.A. is preferred. If you want to work for governmental agencies, a Bachelor’s degree may be all that is necessary, depending upon the specific job requirements and tasks you will be responsible for. You should be someone who knows economics and finance skills, mathematics, statistics, and business. You should care about the success of business and be able to plan how to improve what they do.
The typical education track for a management analyst is an M.B.A. from an accredited institution, but a Bachelor’s degree is sufficient in some areas.
An Alternate Route
You really need the Bachelor’s degree as a minimum to work as a management analyst, but you might be able to work with another management analyst as an associate or assistant with an associates’ degree or basic coursework. However, if you plan to work as a management analyst yourself, get the degree.
Steps to Becoming a Management Analyst
If you like business, and want to serve in the capacity of manager for big or small businesses, and have some input into the decisions they make, being a management analyst might be a good choice for you. Here are some steps to get started in this field.
1 to 5 years
2) Get a job in a financial institution or business. Gain exposure to business techniques and budgeting by working in a bank or other institution. You could also work for a business and help them with their financial decisions, if they will let you be involved in this. Any experience you can gain on the managerial level will be beneficial to learning what you need to know to do this job.
3) Work on interpersonal skills. Because of the nature of the job, a management analyst has to work with a number of people, including executives, other companies, clients, and individuals. Learning to get along with a wide range of people and to listen to their needs, is beneficial to acquiring the skills needed to be an effective management analyst.
4) Be an independent team player. While these two terms seem contradictory, both skills are important to do your job as a management analyst. You have to be somewhat of a loner (an independent thinker who does things on your own), while also being an effective team player with other people. They must also respect you for your expertise so in that way you are also a leader in the organization, though not usually considered a boss.
5) Get recommendations from business managers. If you can work in a business and they give you a stellar recommendation, this will go a long way toward building your credibility as a management analyst. Strong critical thinking skills and other assets will also help build your reputation as someone who can make good recommendations to businesses wanting to grow and increase their bottom line.If you are someone who enjoys helping businesses grow financially, and considers yourself management material, this is a career that will help you do both. A management analyst is good at making sound recommendations to top players in big and small businesses alike, and you can choose what sector you want to work in with your degree and experience. Start with a good education from a reputable college and get your M.B.A. first. Remember everything great starts with only one small step.
"One small step for man…..one giant leap for mankind." -Neil Armstrong