If you’re looking for a business career that will allow you to use your creativity to find innovative solutions to solve operational issues, then you should consider becoming a management analyst. In short, management analysts are consultants that are hired by various companies in nearly every industry to find ways for improving efficiency and profitability. As today’s global economy becomes even more competitive, it’s expected that management analysts will be in high demand to help executives control costs while boosting revenue and beating their competitors. In fact, the Bureau of Labor Statistics predicts that employment growth for management analysts will skyrocket faster than average at 19 percent, thus creating 133,800 new positions before 2022. Below we’ve compiled an in-depth job profile to help you determine if you’re the right fit for the role of management analyst.

What Management Analysts Do

Management analysts are given the hefty responsibility of developing effective strategies that managers can utilize to make their organizations more competitive. On a typical workday, a management analyst may be found gathering data on problem areas, interviewing personnel, conducting on-site business observations, assessing financial records, recommending better business practices, giving board presentations, and ensuring that changes are working. Most management analysts will specialize their skills in a certain area, such as risk management, inventory management, personnel management, or healthcare management. Management analysts may work independently with the company’s executives or form teams with other analysts to cover all aspects of the business’s operations.

Where Management Analysts Work

According to the Bureau of Labor Statistics, there are 718,700 management analysts currently employed the United States in a wide range of work settings. The majority of management analysts, around 21 percent, are self-employed and build their own client base of companies on a contractual basis. Another large group of management analysts are employed by management and technical consulting firms to work with client companies in need of help. Management analysts can also be hired by federal government agencies, banks, insurance carriers, manufacturing firms, securities and commodity exchanges, transportation companies, and other enterprises. Many management analysts work longer than the typical 40-hour workweek to meet tight deadlines.

How to Become a Management Analyst

In order to be successful as a management analyst or consultant, you’ll need to first pay your dues and build your knowledge of business practices in post-secondary education. Aspiring management analysts will need to earn at least a bachelor’s degree in management, business administration, economics, accounting, finance, or government. A few universities in America also offer academic programs with a major specifically in management consulting. It’s highly advised that management analysts consider pursuing a Master of Business Administration in Management or Master of Management degree for the best job prospects. You may also want to earn the Certified Management Consultant credential for the Institute of Management Consultants to display your professional competency to new clients.

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Overall, management analysts are highly skilled business professionals who use their analytical abilities to think through operational problems from many different angles for finding the best solutions that spark company growth. With an annual average salary of $89,990 and above-average demand, management analysts have been recognized by the U.S. News and World Report for having the 17th best business job in America. If you choose to become a management analyst, you could have the rewarding opportunity to help client companies become better at what they do and make more money.