A management analyst proposes ways that can boost the efficiency of organizations in the private and public sectors. Management analysts advise executives and managers on how to make their company more profitable by cutting costs and boosting revenues. Some of the typical job duties of management analysts are: (BLS.gov)
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- Collect and organize information about the business problem that must be solved or the procedure that needs improving.
- Conduct interviews of personnel, and do onsite observations to determine the equipment, methods, and personnel required to make improvements.
- Analyze company data, such as financial records, revenues, expenditures, and employment.
- Develop new business solutions
- Make recommendations for new procedures, systems, and organizational changes.
- Offer recommendations to management with written reports and presentations.
- Work with managers to ensure that business changes are effective.
Some management analysts are employed by the company they analyze, but many work for consulting firms. Whether the management analyst is self-employed or a team member in a large consulting company, management analyst work varies by project. Some business projects may require a team of analysts, while others may only require a single analyst working with the company’s managers.
As a management analyst, you may specialize in a certain business area, such as inventory management, or corporate restructuring. Some analysts focus on a certain industry, such as software or healthcare.
Management Analyst Salary Outlook
If you want to be a management analyst, you will need to earn a bachelor’s or master’s degree in business management or a related field. Before you commit to years of education, it is smart to understand the salary outlook for this field. Below is detailed salary information for management analysts.
Bureau of Labor Statistics
BLS reports the median salary for management analysts is $83,600, with the lowest 10% making $48,300 and the top 10% earning more than $152,000 per year. Top paying industries for management analysts were: (BLS.gov)
- Professional, scientific, and technical services: $89,300
- Management of companies and enterprises: $83,400
- Finance and insurance: $83,000
- Government: $78,700
In the related field of operations research analyst, the median salary is $83,390, with a range between $46,800 and $136,000. (BLS.gov). As of May 2018, the following industries were the highest-paying for operations research analysts:
- Federal government: $113,900
- Manufacturing: $92,100
- Professional, scientific, and technical services: $86,700
- Management of companies and enterprises: $85,200
- Finance and insurance: $82,300
Payscale.com
Payscale.com reports the average salary for management analysts is $65,900, with a range between $44,000 and $99,000. (Payscale.com). Some specific company salaries for management analysts are:
- ICF International: $46,000
- US Air Force: $73,000
- National Institutes of Health: $92,000
- Department of Veteran’s Affairs: $100,000
- Booz, Allen, and Hamilton: $83,000
- Northrop Grumman Corporation: $66,000
Skills that are popular for management analysts and pay well are:
- Data analysis: $66,300
- Project management: $69,000
- Microsoft Excel: $63,900
- Microsoft Office: $61,800
- Research analysis: $63,500
Pay for management analysts also increases as you gain experience:
- Less than one year of experience: $52,800
- One to four years of experience: $60,400
- Five to nine years of experience: $72,100
- Ten to 19 years of experience: $75,500
- More than 20 years of experience: $83,000
Your salary can be more or less than the average of $65,900 depending on the city in which you live:
- Arlington VA: +20%
- Washington DC: +19%
- Los Angeles: +6%
- Atlanta: +3%
- New York City: +2%
- Denver: -5%
- Tampa FL: -22%
Ziprecruiter.com
This website reports the national average salary for management analysts is $61,400, with a range between $12,000 and $94,500. Most professionals see a salary between $49,000 and $73,500. (Ziprecruiter.com)
Glassdoor.com
Glassdoor.com reports the average salary for management analysts is $67,700 per year, with a range between $39,000 and $134,000. (Glassdoor.com)
Indeed.com
Indeed.com reports the average salary for management analysts is $76,200, with a range between $21,000 and $166,000. (Indeed.com)
Job Demand for Management Analysts
Job demand for management analysts will grow 14% through 2028, much faster than average. Demand for management consultant services should grow as companies try to boost efficiency and control costs in the growing economy. As markets grow in competitiveness, companies must learn how to use their resources more efficiently. (BLS.gov)
It is anticipated that demand for management analysts will be especially robust in healthcare. This industry sees higher costs largely because of an aging US population. Also, more management analysts could be needed to help navigate the complex regulatory environment in health insurance.
Information technology consultants also should see high job demand. Companies seek management analysts to help them improve their cybersecurity and to ensure all IT systems are up to date.
It is expected that job growth will be stronger in small consulting companies that specialize in certain industries, such as IT or human resources.
A robust growth occupation similar to a management analyst is that of operations research analyst. This professional is also usually a contractor who uses analytical and mathematical methods to help companies solve business problems, increase efficiency and profits.
Employment of operations research analysts is expected to grow by 26% through 2028, which is much faster than average. As technology advances and organizations want better efficiency demand in this profession should grow quickly. (BLS.gov)
Average Management Analyst Salary by State
| State | Hourly Wage | Annual Salary |
|---|---|---|
| New York - Management Analyst | $32.38 | $67,360 |
| Massachusetts - Management Analyst | $32.15 | $66,876 |
| New Hampshire - Management Analyst | $31.37 | $65,253 |
| Maryland - Management Analyst | $29.84 | $62,071 |
| Hawaii - Management Analyst | $29.70 | $61,779 |
| Connecticut - Management Analyst | $29.62 | $61,600 |
| Alaska - Management Analyst | $29.61 | $61,596 |
| Montana - Management Analyst | $29.61 | $61,596 |
| North Dakota - Management Analyst | $29.61 | $61,596 |
| Wyoming - Management Analyst | $29.61 | $61,596 |
| Nevada - Management Analyst | $29.61 | $61,596 |
| Idaho - Management Analyst | $29.61 | $61,596 |
| Vermont - Management Analyst | $29.53 | $61,432 |
| Nebraska - Management Analyst | $29.48 | $61,313 |
| Washington - Management Analyst | $29.46 | $61,277 |
| Rhode Island - Management Analyst | $29.16 | $60,645 |
| California - Management Analyst | $29.14 | $60,610 |
| Virginia - Management Analyst | $29.00 | $60,310 |
| Arizona - Management Analyst | $28.69 | $59,666 |
| New Jersey - Management Analyst | $28.50 | $59,283 |
| Colorado - Management Analyst | $28.13 | $58,502 |
| West Virginia - Management Analyst | $28.11 | $58,468 |
| Minnesota - Management Analyst | $28.00 | $58,240 |
| Pennsylvania - Management Analyst | $28.00 | $58,236 |
| South Dakota - Management Analyst | $27.99 | $58,214 |
| South Carolina - Management Analyst | $27.95 | $58,129 |
| Tennessee - Management Analyst | $27.84 | $57,903 |
| Delaware - Management Analyst | $27.83 | $57,877 |
| Oregon - Management Analyst | $27.80 | $57,822 |
| Utah - Management Analyst | $27.60 | $57,417 |
| Ohio - Management Analyst | $27.55 | $57,306 |
| Kentucky - Management Analyst | $27.52 | $57,242 |
| Indiana - Management Analyst | $27.36 | $56,915 |
| Oklahoma - Management Analyst | $27.30 | $56,775 |
| Louisiana - Management Analyst | $27.22 | $56,610 |
| Wisconsin - Management Analyst | $27.17 | $56,512 |
| Kansas - Management Analyst | $27.08 | $56,336 |
| Maine - Management Analyst | $27.06 | $56,283 |
| Iowa - Management Analyst | $27.00 | $56,155 |
| Texas - Management Analyst | $26.55 | $55,215 |
| Georgia - Management Analyst | $26.45 | $55,018 |
| Arkansas - Management Analyst | $26.35 | $54,809 |
| New Mexico - Management Analyst | $26.20 | $54,499 |
| Alabama - Management Analyst | $26.01 | $54,093 |
| Michigan - Management Analyst | $25.98 | $54,033 |
| Illinois - Management Analyst | $25.90 | $53,863 |
| Mississippi - Management Analyst | $25.60 | $53,255 |
| Missouri - Management Analyst | $25.34 | $52,713 |
| Florida - Management Analyst | $24.96 | $51,923 |
| North Carolina - Management Analyst | $22.70 | $47,221 |
Source: Ziprecruiter.com, January 2020.
Summary
The management analyst profession is growing as the US economy continues to gather strength. Many management analysts can begin their careers making $60,000 or $70,000 annually, and can later earn more than $100,000 per year. Professionals who earn a general MBA, or in management consulting, will have an edge in this field.
If you enjoy helping businesses solve problems that will increase profits and efficiency, becoming a management analyst could be a good career choice. It also is a good option if you enjoy working with many different companies and industries to solve business problems.