Business climates are constantly changing, whether due to regulatory adjustments, globalization of markets, the ebb and flow of sales, or the health of the economy. Management analysts or management consultants are brought in to analyze the business from a neutral perspective and to propose improvements in operational structure and perhaps in business tactical and strategic issues as well.
E-commerce has opened an enormous area where traditional businesses need professional consultation on how to enter the new marketplace. Information management is another new and important business challenge as customer relations management (CRM) software has become the platform for communications within many businesses.
In private industry the norm for a management analyst is an MBA and some executive experience. In the government sector, entry level positions as analysts are often open to people with a bachelors degree in a relevant field such as business or economics.
Management consulting is a substantial business niche today, with almost 680,000 people working in the industry in 2007. Twenty seven percent of them were self employed; a figure roughly three times that of most other professional job categories. It is also a profession that people who have retired from a successful business career will often pursue, sometimes on a part-time basis.
This job category is expected to grow much faster than average, due to the complexities involved in growing a business today. Integrating data management and online functions are two of the complexities that mystify many otherwise successful and healthy businesses.
Lowest 10% $19.64 $40,860
Median Salary $34.21 $71,150
Highest 10% $63.40 $131,870
Source: U.S. Department of Labor