Wages & Outlook
Wages vary by employer and area of the country. The analyst's reputation, experience, and ability also affect wages.
Management analysts who work full time usually receive benefits. Typical benefits include sick leave, paid vacation, and health and life insurance. Some employers also provide a retirement plan. Analysts may receive profit sharing and bonuses for outstanding work. Employers usually pay for all travel costs. Self-employed analysts must provide their own insurance and retirement plan.
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In Minnesota, about 11,832 management analysts work in this medium-sized occupation.
About 23 percent of management analysts are self-employed.
- Management consulting companies
- Finance and insurance companies
- Federal, state, and local government agencies
- Computer systems design companies
The demand for management analysts will stem from organizations hiring outside experts to improve their performance. Rather than employ a staff to do this, companies hire consultants to solve specific problems. Foreign and domestic competition is forcing American companies to find ways to become more efficient. In addition, the trend for companies to merge creates more demand for consultants. Many firms are also expected to hire analysts who specialize in areas such as lowering energy consumption or implementing green initiatives.
Growth may be strongest in larger consulting firms that have skills in international markets. Smaller specialty firms will also grow. Growth among independent consultants may slow down. This is because growing numbers of clients prefer a team approach. Teams have a greater ability to study numerous issues at the same time.
Despite projected rapid employment growth, there may be more job seekers than jobs. Opportunities are expected to be best for those with a graduate degree and some industry expertise.
|Seven County Mpls-St Paul, MN||9,648||11,144||1,496||15.5%|