Management Consulting and Analyst Career
When companies become larger and more multifaceted, they must deal with new problems. To deal with new challenges, companies utilize management analysts. These specialists are also known as management consultants. Their main task is to evaluate problems, such as decreases in revenue, and develop strategies to solve the problems.
Management consultants deal with a variety of problems. A small firm may utilize the services of a consultant to improve the efficiency of inventory control. A bigger firm could hire a management consultant to help it decide how many employees are necessary to operate a new department. Many companies are hiring management consultants to develop strategies for implementing new technology into their business operations.
Many management analysts run their own companies or work for firms with multiple consultants. Certain analysts become experts in certain industries such as health care, and some become experts in business operations and management such as human resources or advertising. Managements working for government agencies usually provide expert knowledge for specific agencies. A management consultant's duties are usually determined by the organizations they work for and projects they complete. Consultants work in teams when necessary, with each possessing unique specialties. Often, management analysts collaborate with company supervisors to complete projects. No matter the project, all management analysts and consultants determine company effectiveness and suggest strategies to management for improvement.
Management consultants provide an assortment of services for government agencies, nonprofit organizations, and private businesses. Many organizations hire consultants when they do not have employees with the necessary expertise to coordinate a project, and other organizations need an expert to advise them about the resources required to implement an organizational change. Before hiring a consultant, firms usually contact numerous consulting companies or individual consultants to receive a fee estimate before making a decision. Companies often select employees within their organization to perform consulting work.
Once a management analyst has been assigned a project, he or she determines the scope of the problem by analyzing information and interviewing the organization's staff. After reviewing data and interviewing employees, consultants or analysts make recommendations to management. They take into consideration numerous factors when making their recommendations, such as the company's culture and organizational structure. They often use mathematical solutions to solve problems.
After making their determinations, consultants prepare written reports for their clients. Sometimes they are hired by their clients to coordinate the application of the suggestions.
Management consultants working for government agencies perform the same tasks as those working for private businesses. For example, when an agency gets ready to purchase equipment, management consultants determine the products to buy in accordance with budget limitations. Analysts also manage contracts and make sure projects stay within the budget.
Work environment. Management analysts spend most their working hours at their offices or the offices of their customers. These offices are usually well kept and brightly-lit. Management analysts and consultants spend a lot of time traveling.
Management consultants and analysts usually work 40 hour weeks, often not being paid for overtime hours since they must meet many deadlines. Working as an analyst can be very stressful since many customers are very demanding and difficult to work with.
Consultants running their own businesses can determine their schedules and work from their personal residencies, but need to find more clients to make more money. Management consultants being paid salary must keep their clients happy if they want to retain them.
Education and Training
Educational prerequisits for entry-level jobs as a management consultant vary depending on whether you intend to work for a private firm or for the government. Most management consulting firms in private industry seek to employ individuals with a master's degree in business administration or a related subject. Some firms also require several years of experience in the field or industry in which the consultant intends to consult. Other consulting firms hire workers straight out of college with a bachelor's degree as research analysts or associate consultants and promote them to full fledged consultants after several years of training and on-the-job experience. A few government agencies and organizations that employ consultants require real-world experience, graduate education, or both, but many also hire people with a bachelor's degree and minimal work experience for entry-level management analyst positions.
Even though very few colleges or universities offer formal management consulting programs most colleges will offer programs and fields of study that will prepare you to apply for a job as a management consultant since this occupation typically highers professionals from a wide range specialities. Common fields of study include business, accounting, management, marketing, statistics, economics, computer and information science, or engineering. Most analysts also have experience in management, information technology, human resources, or other specialties.
Earnings
Compensation for management consultants can vary dramatically based on years of experience, education level, location, industry expertise, and the reputation of the management consulting firm they work for. Typically, management analysts and consultants employed by one of the top management consulting firms or who work in metropolitan areas can demand the highest salaries. Median annual earnings for management consultants nationwide in May 2006 were $68,050. The middle 50 percent of consultants earned between $50,860 and $92,390. The lowest 10 percent of consultants earned less than $39,840, and the highest 10 percent earned more than $128,330 with a several consultants earning well into the six figures ($300,000 to $1,000,000.) Median annual earnings for all management consultants in the industries employing the largest numbers of consultants were:
Computer systems and design related services |
$82,090 |
Management, scientific, and technical consulting services |
81,670 |
Federal Executive Branch |
79,830 |
Management of companies and enterprises |
73,760 |
State government |
55,590 |
Management analysts and consultants that are paid a salary typically receive benefits, including health and life insurance, vacation, a retirement plan, and sick leave, as well as less common benefits, including profit sharing and year end bonuses for good work. Additionally, all travel expenses associated with their position are usually reimbursed by the firm that employs them. Self-employed consultants have to maintain their own office and provide their own benefits -- but if successful, they may earn substantially more than a salaried consultant.
Job Outlook
Employment opportunities for management consultants are expecte do to grow 24 percent over the next decade, much faster job growth than the average for all other occupations. Notwithstanding rapid employment growth, increasing competition for jobs is expected as management consultants and analysts because high earnings potential make this occupation attractive to many capable professionals.
Management Consultants And Analysts Around the United States
Each metro area in the list below is rated based on the relative popularity of management consultants and analysts compared to other locations throughout the nation. Single or double up arrows or down arrows indicate the relative popularity of the management consulting career in that location. Within each state listing, metro areas are sorted in accending order according to the actual number of management consultants and management analysts jobs.
Alabama
Location | Median Pay | Workers | Popularity |
Birmingham | $81,000 | 1,720 | |
Huntsville | $91,000 | 1,560 | |
Montgomery | $58,000 | 420 | |
Mobile | $78,000 | 230 | |
Tuscaloosa | $106,000 | 190 | |
Anniston | $82,000 | 100 | |
Auburn | $90,000 | 60 | |
Alaska
Location | Median Pay | Workers | Popularity |
Anchorage | $68,000 | 360 | |
Fairbanks | $77,000 | 60 | |
Arizona
Location | Median Pay | Workers | Popularity |
Phoenix | $72,000 | 10,280 | |
Tucson | $60,000 | 1,100 | |
Flagstaff | $54,000 | 190 | |
Prescott | $50,000 | 180 | |
Yuma | $70,000 | 120 | |
Kingman | $55,000 | 90 | |
Arkansas
Location | Median Pay | Workers | Popularity |
Little Rock | $61,000 | 1,030 | |
Fayetteville | $60,000 | 420 | |
Fort Smith | $59,000 | 160 | |
Pine Bluff | $51,000 | 90 | |
Jonesboro | $48,000 | 60 | |
California
Location | Median Pay | Workers | Popularity |
San Francisco | $107,000 | 9,610 | |
Santa Ana | $81,000 | 8,850 | |
San Diego | $95,000 | 6,570 | |
San Jose | $105,000 | 6,350 | |
Sacramento | $88,000 | 5,010 | |
Oakland | $89,000 | 4,800 | |
Riverside | $67,000 | 2,860 | |
Oxnard | $97,000 | 1,760 | |
Santa Barbara | $85,000 | 760 | |
Fresno | $71,000 | 750 | |
Bakersfield | $74,000 | 670 | |
Stockton | $64,000 | 510 | |
Salinas | $96,000 | 430 | |
Santa Cruz | $82,000 | 430 | |
Santa Rosa | $90,000 | 420 | |
San Luis Obispo | $77,000 | 310 | |
Vallejo | $81,000 | 290 | |
Modesto | $62,000 | 200 | |
Redding | $61,000 | 200 | |
Visalia | $57,000 | 190 | |
Chico | $55,000 | 160 | |
Napa | $99,000 | 130 | |
Yuba City | $57,000 | 90 | |
El Centro | $63,000 | 90 | |
Merced | $74,000 | 70 | |
Madera | $78,000 | 60 | |
Hanford | $67,000 | 30 | |
Colorado
Location | Median Pay | Workers | Popularity |
Denver | $88,000 | 6,260 | |
Colorado Springs | $97,000 | 1,090 | |
Boulder | $100,000 | 840 | |
Greeley | $69,000 | 80 | |
Pueblo | $69,000 | 50 | |
Connecticut
Location | Median Pay | Workers | Popularity |
Hartford | $75,000 | 3,960 | |
Bridgeport | $115,000 | 2,600 | |
New Haven | $83,000 | 600 | |
Danbury | $80,000 | 280 | |
Norwich | $80,000 | 160 | |
Waterbury | $78,000 | 70 | |
Delaware
Location | Median Pay | Workers | Popularity |
Wilmington | $83,000 | 1,810 | |
Dover | $59,000 | 170 | |
District of Columbia
Location | Median Pay | Workers | Popularity |
Washington | $91,000 | 44,550 | |
Florida
Location | Median Pay | Workers | Popularity |
Tampa | $76,000 | 4,920 | |
Tallahassee | $53,000 | 4,890 | |
Miami | $83,000 | 4,700 | |
Orlando | $74,000 | 4,130 | |
Jacksonville | $73,000 | 3,440 | |
West Palm Beach | $92,000 | 3,260 | |
Fort Lauderdale | $89,000 | 3,100 | |
Sarasota | $59,000 | 1,300 | |
Palm Bay | $79,000 | 1,150 | |
Pensacola | $71,000 | 950 | |
Cape Coral | $86,000 | 730 | |
Fort Walton Beach | $73,000 | 470 | |
Port St Lucie | $79,000 | 450 | |
Naples | $137,000 | 380 | |
Gainesville | $88,000 | 350 | |
Lakeland | $62,000 | 310 | |
Deltona | $74,000 | 230 | |
Panama City | $66,000 | 210 | |
Punta Gorda | $113,000 | 160 | |
Sebastian | $82,000 | 150 | |
Ocala | $77,000 | 120 | |
Georgia
Location | Median Pay | Workers | Popularity |
Atlanta | $92,000 | 24,230 | |
Columbus | $68,000 | 680 | |
Augusta | $81,000 | 380 | |
Savannah | $101,000 | 250 | |
Albany | $80,000 | 180 | |
Athens | $73,000 | 170 | |
Macon | $73,000 | 160 | |
Dalton | $81,000 | 150 | |
Gainesville | $65,000 | 140 | |
Brunswick | $59,000 | 130 | |
Hinesville | $74,000 | 90 | |
Rome | $85,000 | 60 | |
Hawaii
Location | Median Pay | Workers | Popularity |
Honolulu | $68,000 | 1,210 | |
Idaho
Location | Median Pay | Workers | Popularity |
Boise | $76,000 | 1,420 | |
Idaho Falls | $108,000 | 180 | |
Pocatello | $78,000 | 100 | |
Coeur Dalene | $59,000 | 60 | |
Illinois
Location | Median Pay | Workers | Popularity |
Chicago | $91,000 | 19,060 | |
Bloomington | $76,000 | 790 | |
Springfield | $75,000 | 320 | |
Peoria | $74,000 | 280 | |
Champaign | $53,000 | 150 | |
Rockford | $88,000 | 140 | |
Danville | $70,000 | 60 | |
Decatur | $81,000 | 50 | |
Indiana
Location | Median Pay | Workers | Popularity |
Indianapolis | $72,000 | 4,810 | |
Evansville | $60,000 | 470 | |
Fort Wayne | $60,000 | 350 | |
Gary | $76,000 | 270 | |
South Bend | $81,000 | 200 | |
Bloomington | $133,000 | 120 | |
Elkhart | $99,000 | 60 | |
Columbus | $54,000 | 50 | |
Lafayette | $90,000 | 40 | |
Terre Haute | $65,000 | 40 | |
Kokomo | $68,000 | 40 | |
Anderson | $55,000 | 30 | |
Muncie | $63,000 | 30 | |
Michigan City | $47,000 | 30 | |
Iowa
Location | Median Pay | Workers | Popularity |
Des Moines | $64,000 | 2,840 | |
Davenport | $75,000 | 510 | |
Cedar Rapids | $71,000 | 330 | |
Sioux City | $82,000 | 210 | |
Iowa City | $76,000 | 140 | |
Ames | $58,000 | 110 | |
Waterloo | $67,000 | 90 | |
Kansas
Location | Median Pay | Workers | Popularity |
Wichita | $72,000 | 730 | |
Topeka | $57,000 | 480 | |
Lawrence | $108,000 | 70 | |
Kentucky
Location | Median Pay | Workers | Popularity |
Louisville | $74,000 | 1,450 | |
Lexington | $56,000 | 360 | |
Elizabethtown | $64,000 | 100 | |
Bowling Green | $81,000 | 90 | |
Louisiana
Location | Median Pay | Workers | Popularity |
New Orleans | $73,000 | 780 | |
Baton Rouge | $66,000 | 570 | |
Lafayette | $68,000 | 190 | |
Monroe | $40,000 | 130 | |
Shreveport | $65,000 | 110 | |
Houma | $65,000 | 90 | |
Alexandria | $58,000 | 50 | |
Lake Charles | $83,000 | 40 | |
Maine
Location | Median Pay | Workers | Popularity |
Portland | $74,000 | 530 | |
Maryland
Location | Median Pay | Workers | Popularity |
Baltimore | $81,000 | 7,710 | |
Bethesda | $86,000 | 5,670 | |
Hagerstown | $74,000 | 200 | |
Salisbury | $63,000 | 40 | |
Massachusetts
Location | Median Pay | Workers | Popularity |
Boston | $100,000 | 14,700 | |
Framingham | $98,000 | 1,600 | |
Springfield | $76,000 | 1,150 | |
Worcester | $85,000 | 700 | |
Lowell | $90,000 | 580 | |
Haverhill | $107,000 | 170 | |
Barnstable Town | $79,000 | 150 | |
Brockton | $78,000 | 140 | |
Pittsfield | $75,000 | 80 | |
Lawrence | $90,000 | 70 | |
Leominster | $82,000 | 60 | |
New Bedford | $61,000 | 50 | |
Michigan
Location | Median Pay | Workers | Popularity |
Warren | $95,000 | 4,410 | |
Detroit | $88,000 | 2,160 | |
Lansing | $61,000 | 1,520 | |
Grand Rapids | $74,000 | 760 | |
Ann Arbor | $76,000 | 550 | |
Kalamazoo | $59,000 | 350 | |
Flint | $71,000 | 270 | |
Battle Creek | $71,000 | 260 | |
Holland | $65,000 | 150 | |
Saginaw | $69,000 | 120 | |
Jackson | $91,000 | 80 | |
Niles | $115,000 | 50 | |
Minnesota
Location | Median Pay | Workers | Popularity |
Minneapolis | $88,000 | 8,970 | |
Rochester | $70,000 | 220 | |
Duluth | $75,000 | 100 | |
St Cloud | $83,000 | 90 | |
Mississippi
Location | Median Pay | Workers | Popularity |
Jackson | $55,000 | 360 | |
Gulfport | $75,000 | 150 | |
Pascagoula | $78,000 | 40 | |
Hattiesburg | $48,000 | 40 | |
Missouri
Location | Median Pay | Workers | Popularity |
Kansas City | $77,000 | 3,990 | |
St Louis | $76,000 | 3,800 | |
Springfield | $72,000 | 300 | |
Jefferson City | $56,000 | 230 | |
Columbia | $62,000 | 170 | |
Joplin | $67,000 | 40 | |
Montana
Location | Median Pay | Workers | Popularity |
Billings | $78,000 | 50 | |
Nebraska
Location | Median Pay | Workers | Popularity |
Omaha | $66,000 | 1,910 | |
Lincoln | $61,000 | 570 | |
Nevada
Location | Median Pay | Workers | Popularity |
Las Vegas | $80,000 | 1,970 | |
Reno | $108,000 | 570 | |
Carson City | $61,000 | 360 | |
New Hampshire
Location | Median Pay | Workers | Popularity |
Nashua | $78,000 | 300 | |
Manchester | $79,000 | 280 | |
Portsmouth | $143,000 | 250 | |
Rochester | $78,000 | 140 | |
New Jersey
Location | Median Pay | Workers | Popularity |
Newark | $91,000 | 4,620 | |
Edison | $85,000 | 3,380 | |
Trenton | $86,000 | 2,540 | |
Camden | $108,000 | 1,020 | |
Atlantic City | $86,000 | 100 | |
New Mexico
Location | Median Pay | Workers | Popularity |
Albuquerque | $80,000 | 1,400 | |
Santa Fe | $61,000 | 650 | |
Las Cruces | $66,000 | 80 | |
New York
Location | Median Pay | Workers | Popularity |
New York | $99,000 | 26,220 | |
Nassau | $97,000 | 2,930 | |
Albany | $64,000 | 2,450 | |
Rochester | $79,000 | 1,380 | |
Buffalo | $70,000 | 970 | |
Syracuse | $66,000 | 690 | |
Binghamton | $69,000 | 450 | |
Poughkeepsie | $80,000 | 420 | |
Utica | $57,000 | 370 | |
Glens Falls | $66,000 | 110 | |
Ithaca | $75,000 | 50 | |
Kingston | $83,000 | 50 | |
Elmira | $66,000 | 30 | |
North Carolina
Location | Median Pay | Workers | Popularity |
Charlotte | $80,000 | 3,140 | |
Raleigh | $71,000 | 1,410 | |
Durham | $84,000 | 1,290 | |
Greensboro | $69,000 | 660 | |
Wilmington | | 410 | |
Winston Salem | $84,000 | 410 | |
Fayetteville | $64,000 | 280 | |
Asheville | $66,000 | 130 | |
Hickory | | 90 | |
Greenville | $57,000 | 80 | |
Jacksonville | $75,000 | 60 | |
Rocky Mount | $74,000 | 60 | |
North Dakota
Location | Median Pay | Workers | Popularity |
Bismarck | $73,000 | 90 | |
Ohio
Location | Median Pay | Workers | Popularity |
Columbus | $68,000 | 5,230 | |
Cleveland | $85,000 | 4,770 | |
Cincinnati | $79,000 | 4,350 | |
Dayton | $75,000 | 1,670 | |
Akron | $79,000 | 1,080 | |
Toledo | $81,000 | 520 | |
Youngstown | $59,000 | 260 | |
Canton | $71,000 | 180 | |
Sandusky | $63,000 | 90 | |
Springfield | $55,000 | 70 | |
Lima | | 60 | |
Mansfield | $79,000 | 40 | |
Oklahoma
Location | Median Pay | Workers | Popularity |
Oklahoma City | $64,000 | 1,910 | |
Tulsa | $56,000 | 1,360 | |
Lawton | $59,000 | 80 | |
Oregon
Location | Median Pay | Workers | Popularity |
Portland | $74,000 | 2,530 | |
Salem | $57,000 | 1,360 | |
Eugene | $61,000 | 290 | |
Medford | $91,000 | 70 | |
Bend | $57,000 | 50 | |
Pennsylvania
Location | Median Pay | Workers | Popularity |
Philadelphia | $93,000 | 11,180 | |
Pittsburgh | $78,000 | 3,740 | |
Harrisburg | $69,000 | 1,850 | |
Allentown | $81,000 | 770 | |
Scranton | $79,000 | 590 | |
Lancaster | $62,000 | 370 | |
Reading | $98,000 | 350 | |
Erie | $58,000 | 280 | |
York | $64,000 | 230 | |
State College | $101,000 | 180 | |
Lebanon | $64,000 | 110 | |
Johnstown | $70,000 | 90 | |
Williamsport | $68,000 | 30 | |
Altoona | $83,000 | 30 | |
Rhode Island
Location | Median Pay | Workers | Popularity |
Providence | $71,000 | 2,140 | |
South Carolina
Location | Median Pay | Workers | Popularity |
Columbia | $63,000 | 2,180 | |
Charleston | $63,000 | 1,260 | |
Greenville | $91,000 | 810 | |
Florence | $57,000 | 190 | |
Spartanburg | $76,000 | 150 | |
Myrtle Beach | $73,000 | 120 | |
Anderson | $54,000 | 50 | |
Sumter | $67,000 | 50 | |
South Dakota
Location | Median Pay | Workers | Popularity |
Sioux Falls | $65,000 | 770 | |
Rapid City | $58,000 | 170 | |
Tennessee
Location | Median Pay | Workers | Popularity |
Nashville | $69,000 | 2,230 | |
Memphis | $70,000 | 1,070 | |
Knoxville | $80,000 | 850 | |
Chattanooga | $71,000 | 340 | |
Kingsport | $66,000 | 190 | |
Johnson City | $50,000 | 140 | |
Clarksville | $60,000 | 80 | |
Jackson | | 50 | |
Texas
Location | Median Pay | Workers | Popularity |
Dallas | $86,000 | 10,300 | |
Houston | $79,000 | 9,860 | |
Austin | $63,000 | 8,430 | |
San Antonio | $62,000 | 2,600 | |
Fort Worth | $65,000 | 2,110 | |
El Paso | $57,000 | 400 | |
Corpus Christi | $62,000 | 360 | |
Killeen | $54,000 | 320 | |
Lubbock | $53,000 | 250 | |
Mcallen | $53,000 | 210 | |
Brownsville | $53,000 | 150 | |
Amarillo | $52,000 | 140 | |
Beaumont | $57,000 | 140 | |
Tyler | $56,000 | 130 | |
Abilene | $42,000 | 120 | |
Midland | $39,000 | 120 | |
San Angelo | $49,000 | 120 | |
Odessa | $106,000 | 110 | |
Waco | $76,000 | 100 | |
Wichita Falls | $50,000 | 90 | |
College Station | $47,000 | 80 | |
Texarkana | $53,000 | 60 | |
Victoria | $65,000 | 40 | |
Utah
Location | Median Pay | Workers | Popularity |
Salt Lake City | $64,000 | 1,520 | |
Ogden | $71,000 | 850 | |
Provo | $59,000 | 170 | |
Vermont
Location | Median Pay | Workers | Popularity |
Burlington | $71,000 | 210 | |
Virginia
Location | Median Pay | Workers | Popularity |
Virginia Beach | $80,000 | 5,080 | |
Richmond | $74,000 | 4,460 | |
Charlottesville | $68,000 | 580 | |
Roanoke | $60,000 | 520 | |
Lynchburg | $59,000 | 170 | |
Blacksburg | $88,000 | 170 | |
Winchester | $78,000 | 160 | |
Harrisonburg | $82,000 | 100 | |
Danville | $54,000 | 50 | |
Washington
Location | Median Pay | Workers | Popularity |
Seattle | $86,000 | 9,110 | |
Tacoma | $67,000 | 510 | |
Bremerton | $73,000 | 440 | |
Olympia | $66,000 | 360 | |
Spokane | $66,000 | 220 | |
Kennewick | $90,000 | 120 | |
Bellingham | $66,000 | 80 | |
Yakima | $58,000 | 40 | |
West Virginia
Location | Median Pay | Workers | Popularity |
Parkersburg | $77,000 | 160 | |
Charleston | $68,000 | 150 | |
Huntington | $61,000 | 130 | |
Wheeling | $61,000 | 30 | |
Morgantown | $69,000 | 30 | |
Wisconsin
Location | Median Pay | Workers | Popularity |
Milwaukee | $67,000 | 2,180 | |
Madison | $65,000 | 2,070 | |
Green Bay | $56,000 | 420 | |
Oshkosh | $81,000 | 240 | |
Wausau | $65,000 | 180 | |
Eau Claire | $68,000 | 130 | |
Appleton | $65,000 | 130 | |
La Crosse | $73,000 | 120 | |
Sheboygan | $60,000 | 110 | |
Racine | $83,000 | 90 | |
Fond | $57,000 | 60 | |
Janesville | $96,000 | 40 | |
Wyoming
Location | Median Pay | Workers | Popularity |
Cheyenne | $58,000 | 180 | |
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