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Career and Job Search Guide
  

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

LocationMedian PayWorkersPopularity
Birmingham$81,0001,720
Huntsville$91,0001,560
Montgomery$58,000420
Mobile$78,000230
Tuscaloosa$106,000190
Anniston$82,000100
Auburn$90,00060

Alaska

LocationMedian PayWorkersPopularity
Anchorage$68,000360
Fairbanks$77,00060

Arizona

LocationMedian PayWorkersPopularity
Phoenix$72,00010,280
Tucson$60,0001,100
Flagstaff$54,000190
Prescott$50,000180
Yuma$70,000120
Kingman$55,00090

Arkansas

LocationMedian PayWorkersPopularity
Little Rock$61,0001,030
Fayetteville$60,000420
Fort Smith$59,000160
Pine Bluff$51,00090
Jonesboro$48,00060

California

LocationMedian PayWorkersPopularity
San Francisco$107,0009,610
Santa Ana$81,0008,850
San Diego$95,0006,570
San Jose$105,0006,350
Sacramento$88,0005,010
Oakland$89,0004,800
Riverside$67,0002,860
Oxnard$97,0001,760
Santa Barbara$85,000760
Fresno$71,000750
Bakersfield$74,000670
Stockton$64,000510
Salinas$96,000430
Santa Cruz$82,000430
Santa Rosa$90,000420
San Luis Obispo$77,000310
Vallejo$81,000290
Modesto$62,000200
Redding$61,000200
Visalia$57,000190
Chico$55,000160
Napa$99,000130
Yuba City$57,00090
El Centro$63,00090
Merced$74,00070
Madera$78,00060
Hanford$67,00030

Colorado

LocationMedian PayWorkersPopularity
Denver$88,0006,260
Colorado Springs$97,0001,090
Boulder$100,000840
Greeley$69,00080
Pueblo$69,00050

Connecticut

LocationMedian PayWorkersPopularity
Hartford$75,0003,960
Bridgeport$115,0002,600
New Haven$83,000600
Danbury$80,000280
Norwich$80,000160
Waterbury$78,00070

Delaware

LocationMedian PayWorkersPopularity
Wilmington$83,0001,810
Dover$59,000170

District of Columbia

LocationMedian PayWorkersPopularity
Washington$91,00044,550

Florida

LocationMedian PayWorkersPopularity
Tampa$76,0004,920
Tallahassee$53,0004,890
Miami$83,0004,700
Orlando$74,0004,130
Jacksonville$73,0003,440
West Palm Beach$92,0003,260
Fort Lauderdale$89,0003,100
Sarasota$59,0001,300
Palm Bay$79,0001,150
Pensacola$71,000950
Cape Coral$86,000730
Fort Walton Beach$73,000470
Port St Lucie$79,000450
Naples$137,000380
Gainesville$88,000350
Lakeland$62,000310
Deltona$74,000230
Panama City$66,000210
Punta Gorda$113,000160
Sebastian$82,000150
Ocala$77,000120

Georgia

LocationMedian PayWorkersPopularity
Atlanta$92,00024,230
Columbus$68,000680
Augusta$81,000380
Savannah$101,000250
Albany$80,000180
Athens$73,000170
Macon$73,000160
Dalton$81,000150
Gainesville$65,000140
Brunswick$59,000130
Hinesville$74,00090
Rome$85,00060

Hawaii

LocationMedian PayWorkersPopularity
Honolulu$68,0001,210

Idaho

LocationMedian PayWorkersPopularity
Boise$76,0001,420
Idaho Falls$108,000180
Pocatello$78,000100
Coeur Dalene$59,00060

Illinois

LocationMedian PayWorkersPopularity
Chicago$91,00019,060
Bloomington$76,000790
Springfield$75,000320
Peoria$74,000280
Champaign$53,000150
Rockford$88,000140
Danville$70,00060
Decatur$81,00050

Indiana

LocationMedian PayWorkersPopularity
Indianapolis$72,0004,810
Evansville$60,000470
Fort Wayne$60,000350
Gary$76,000270
South Bend$81,000200
Bloomington$133,000120
Elkhart$99,00060
Columbus$54,00050
Lafayette$90,00040
Terre Haute$65,00040
Kokomo$68,00040
Anderson$55,00030
Muncie$63,00030
Michigan City$47,00030

Iowa

LocationMedian PayWorkersPopularity
Des Moines$64,0002,840
Davenport$75,000510
Cedar Rapids$71,000330
Sioux City$82,000210
Iowa City$76,000140
Ames$58,000110
Waterloo$67,00090

Kansas

LocationMedian PayWorkersPopularity
Wichita$72,000730
Topeka$57,000480
Lawrence$108,00070

Kentucky

LocationMedian PayWorkersPopularity
Louisville$74,0001,450
Lexington$56,000360
Elizabethtown$64,000100
Bowling Green$81,00090

Louisiana

LocationMedian PayWorkersPopularity
New Orleans$73,000780
Baton Rouge$66,000570
Lafayette$68,000190
Monroe$40,000130
Shreveport$65,000110
Houma$65,00090
Alexandria$58,00050
Lake Charles$83,00040

Maine

LocationMedian PayWorkersPopularity
Portland$74,000530

Maryland

LocationMedian PayWorkersPopularity
Baltimore$81,0007,710
Bethesda$86,0005,670
Hagerstown$74,000200
Salisbury$63,00040

Massachusetts

LocationMedian PayWorkersPopularity
Boston$100,00014,700
Framingham$98,0001,600
Springfield$76,0001,150
Worcester$85,000700
Lowell$90,000580
Haverhill$107,000170
Barnstable Town$79,000150
Brockton$78,000140
Pittsfield$75,00080
Lawrence$90,00070
Leominster$82,00060
New Bedford$61,00050

Michigan

LocationMedian PayWorkersPopularity
Warren$95,0004,410
Detroit$88,0002,160
Lansing$61,0001,520
Grand Rapids$74,000760
Ann Arbor$76,000550
Kalamazoo$59,000350
Flint$71,000270
Battle Creek$71,000260
Holland$65,000150
Saginaw$69,000120
Jackson$91,00080
Niles$115,00050

Minnesota

LocationMedian PayWorkersPopularity
Minneapolis$88,0008,970
Rochester$70,000220
Duluth$75,000100
St Cloud$83,00090

Mississippi

LocationMedian PayWorkersPopularity
Jackson$55,000360
Gulfport$75,000150
Pascagoula$78,00040
Hattiesburg$48,00040

Missouri

LocationMedian PayWorkersPopularity
Kansas City$77,0003,990
St Louis$76,0003,800
Springfield$72,000300
Jefferson City$56,000230
Columbia$62,000170
Joplin$67,00040

Montana

LocationMedian PayWorkersPopularity
Billings$78,00050

Nebraska

LocationMedian PayWorkersPopularity
Omaha$66,0001,910
Lincoln$61,000570

Nevada

LocationMedian PayWorkersPopularity
Las Vegas$80,0001,970
Reno$108,000570
Carson City$61,000360

New Hampshire

LocationMedian PayWorkersPopularity
Nashua$78,000300
Manchester$79,000280
Portsmouth$143,000250
Rochester$78,000140

New Jersey

LocationMedian PayWorkersPopularity
Newark$91,0004,620
Edison$85,0003,380
Trenton$86,0002,540
Camden$108,0001,020
Atlantic City$86,000100

New Mexico

LocationMedian PayWorkersPopularity
Albuquerque$80,0001,400
Santa Fe$61,000650
Las Cruces$66,00080

New York

LocationMedian PayWorkersPopularity
New York$99,00026,220
Nassau$97,0002,930
Albany$64,0002,450
Rochester$79,0001,380
Buffalo$70,000970
Syracuse$66,000690
Binghamton$69,000450
Poughkeepsie$80,000420
Utica$57,000370
Glens Falls$66,000110
Ithaca$75,00050
Kingston$83,00050
Elmira$66,00030

North Carolina

LocationMedian PayWorkersPopularity
Charlotte$80,0003,140
Raleigh$71,0001,410
Durham$84,0001,290
Greensboro$69,000660
Wilmington410
Winston Salem$84,000410
Fayetteville$64,000280
Asheville$66,000130
Hickory90
Greenville$57,00080
Jacksonville$75,00060
Rocky Mount$74,00060

North Dakota

LocationMedian PayWorkersPopularity
Bismarck$73,00090

Ohio

LocationMedian PayWorkersPopularity
Columbus$68,0005,230
Cleveland$85,0004,770
Cincinnati$79,0004,350
Dayton$75,0001,670
Akron$79,0001,080
Toledo$81,000520
Youngstown$59,000260
Canton$71,000180
Sandusky$63,00090
Springfield$55,00070
Lima60
Mansfield$79,00040

Oklahoma

LocationMedian PayWorkersPopularity
Oklahoma City$64,0001,910
Tulsa$56,0001,360
Lawton$59,00080

Oregon

LocationMedian PayWorkersPopularity
Portland$74,0002,530
Salem$57,0001,360
Eugene$61,000290
Medford$91,00070
Bend$57,00050

Pennsylvania

LocationMedian PayWorkersPopularity
Philadelphia$93,00011,180
Pittsburgh$78,0003,740
Harrisburg$69,0001,850
Allentown$81,000770
Scranton$79,000590
Lancaster$62,000370
Reading$98,000350
Erie$58,000280
York$64,000230
State College$101,000180
Lebanon$64,000110
Johnstown$70,00090
Williamsport$68,00030
Altoona$83,00030

Rhode Island

LocationMedian PayWorkersPopularity
Providence$71,0002,140

South Carolina

LocationMedian PayWorkersPopularity
Columbia$63,0002,180
Charleston$63,0001,260
Greenville$91,000810
Florence$57,000190
Spartanburg$76,000150
Myrtle Beach$73,000120
Anderson$54,00050
Sumter$67,00050

South Dakota

LocationMedian PayWorkersPopularity
Sioux Falls$65,000770
Rapid City$58,000170

Tennessee

LocationMedian PayWorkersPopularity
Nashville$69,0002,230
Memphis$70,0001,070
Knoxville$80,000850
Chattanooga$71,000340
Kingsport$66,000190
Johnson City$50,000140
Clarksville$60,00080
Jackson50

Texas

LocationMedian PayWorkersPopularity
Dallas$86,00010,300
Houston$79,0009,860
Austin$63,0008,430
San Antonio$62,0002,600
Fort Worth$65,0002,110
El Paso$57,000400
Corpus Christi$62,000360
Killeen$54,000320
Lubbock$53,000250
Mcallen$53,000210
Brownsville$53,000150
Amarillo$52,000140
Beaumont$57,000140
Tyler$56,000130
Abilene$42,000120
Midland$39,000120
San Angelo$49,000120
Odessa$106,000110
Waco$76,000100
Wichita Falls$50,00090
College Station$47,00080
Texarkana$53,00060
Victoria$65,00040

Utah

LocationMedian PayWorkersPopularity
Salt Lake City$64,0001,520
Ogden$71,000850
Provo$59,000170

Vermont

LocationMedian PayWorkersPopularity
Burlington$71,000210

Virginia

LocationMedian PayWorkersPopularity
Virginia Beach$80,0005,080
Richmond$74,0004,460
Charlottesville$68,000580
Roanoke$60,000520
Lynchburg$59,000170
Blacksburg$88,000170
Winchester$78,000160
Harrisonburg$82,000100
Danville$54,00050

Washington

LocationMedian PayWorkersPopularity
Seattle$86,0009,110
Tacoma$67,000510
Bremerton$73,000440
Olympia$66,000360
Spokane$66,000220
Kennewick$90,000120
Bellingham$66,00080
Yakima$58,00040

West Virginia

LocationMedian PayWorkersPopularity
Parkersburg$77,000160
Charleston$68,000150
Huntington$61,000130
Wheeling$61,00030
Morgantown$69,00030

Wisconsin

LocationMedian PayWorkersPopularity
Milwaukee$67,0002,180
Madison$65,0002,070
Green Bay$56,000420
Oshkosh$81,000240
Wausau$65,000180
Eau Claire$68,000130
Appleton$65,000130
La Crosse$73,000120
Sheboygan$60,000110
Racine$83,00090
Fond$57,00060
Janesville$96,00040

Wyoming

LocationMedian PayWorkersPopularity
Cheyenne$58,000180
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