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Degrees and Schools
Many four-year colleges and universities offer bachelor's and master's degrees relevant to management consulting, including:
- Business administration or management
- Economics or accounting
- Marketing or human resources
- Computer / information science
- Engineering or statistics
Classes
Coursework for aspiring management analysts varies according to degree and area of focus. Classes should emphasize:
- business and management skills
- analytical skills and mathematics
- requirements gathering and business documentation
- proposal writing and project management
- communicating and client relations
- conducting business as a consultant
- comprehensive training in the specific field of interest
Experience working as part of a team, and internships or externships, are important components of any degree program for management analysts.
Management analysts regularly attend conferences to stay informed about current developments in their field.
Online Classes and Programs
There is an abundance of online bachelor's and master's degree programs in fields of study relevant to management analysts. When comparing programs, consider reputation, how well course offerings match career goals, and if the program provides internship coordination and job placement assistance.
Online courses should be part of an institution with accreditation from agencies approved by the Council for Higher Education Accreditation (CHEA) or United States Department of Education (USDE).
Employment Requirements
A master's degree in business administration or related field is expected by most employers in private industry. Additional education and/or experience in specific fields such as health care or information systems are often required, depending on the needs of the client or employer. Some firms hire management analysts with bachelor's degrees for entry-level positions and eventually promote them. Government agencies frequently hire management analysts with bachelor's degrees and limited work experience for entry-level consulting, but may require graduate education or substantial work experience depending on the project.
For competitive advantage, management analysts can earn a voluntary credential of Certified Management Consultant (CMC) through the Institute of Management Consultants USA, Inc. To qualify they must meet minimum requirements for education and experience, provide client reviews, and pass an exam and interview.
How to Evaluate Schools
Students evaluating degree programs for management consulting should consider asking these questions:
- Reputation and focus - Is the school and/or program ranked nationally? Does the program provide comprehensive training in both business and any specific areas of interest? What are the backgrounds of the instructors – do they primarily bring practical experience or academic backgrounds into the classroom, or both?
- Class structure and labs - Are popular classes difficult to get into? Are computer labs sufficiently equipped with leading technology?
- Practical experience - Does the program coordinate internships or externships? If so, is there a good number of appealing opportunities to choose from?
- Financial aid and expenses - What financial aid options such as student loans, scholarships, grants and work / study are available? What resources are provided by the school to help students take advantage of these?
- Location and graduate success - Is the school located where the student plans to work after graduation? Does the school hold sizable job fairs? What is the program's track record for graduate job placement?
Management Analyst Job Description
When businesses go through major transitions, or seek to increase productivity and efficiency, they often hire management analysts (also called management consultants) to assess current processes and resources, and recommend areas of adjustment. In most cases, the consultant is an expert in a particular area (e.g. human resources, information systems, logistics or marketing) or industry (e.g. telecommunications, health care or government agency). Depending on the needs of the client, a management analyst's responsibilities may include:
- Preparing proposals to present to potential clients
- Determining the scope and nature of the problem they are asked to solve
- Planning solutions including goals, timelines and resources
- Reporting findings and making documented recommendations to management
- Helping companies who are merging with or acquiring a new business to identify and eliminate nonessential or duplicate jobs
- Planning reorganizations within companies
- Analyzing financial figures for ways to increase profits and reduce costs
- Recommending software and other solutions
- Planning strategies for entering or competing successfully in a marketplace
- Improving efficiency of processes by revising them to eliminate unnecessary steps or costly excesses
Many management analysts are self-employed, working independently or as part of a small team. Others work for large corporations with many other consultants. It is common that they travel frequently and spend substantial amounts of time on site with clients.
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