Management Analyst Training

Few universities or colleges offer formal programs of study in management consulting; however, many fields of study provide a suitable educational background for this occupation because of the wide range of areas addressed by management analysts. Common educational backgrounds include most academic programs in business and management, such as accounting and marketing, as well as economics, computer and information sciences, and engineering. In addition to the appropriate formal education, most entrants to this occupation have years of experience in management, human resources, information technology, or other specialties. Analysts also routinely attend conferences to keep abreast of current developments in their field.

Management analysts often work with minimal supervision, so they need to be self-motivated and disciplined. Analytical skills, the ability to get along with a wide range of people, strong oral and written communication skills, good judgment, time management skills, and creativity are other desirable qualities. The ability to work in teams also is an important attribute as consulting teams become more common.

As consultants gain experience, they often become solely responsible for a specific project, taking on more responsibility and managing their own hours. At the senior level, consultants may supervise teams working on more complex projects and become more involved in seeking out new business. Those with exceptional skills may eventually become a partner in the firm. Others with entrepreneurial ambition may open their own firm.

A high percentage of management consultants are self-employed, partly because business startup costs are low. Self-employed consultants also can share office space, administrative help, and other resources with other self-employed consultants or small consulting firms, thus reducing overhead costs. Since many small consulting firms fail each year because of lack of managerial expertise and clients, persons interested in opening their own firm must have good organizational and marketing skills and several years of consulting experience.

The Institute of Management Consultants USA, Inc. (IMC USA) offers a wide range of professional development programs and resources, such as meetings and workshops, which can be helpful for management consultants. The IMC USA also offers the Certified Management Consultant (CMC) designation to those who meet minimum levels of education and experience, submit client reviews, and pass an interview and exam covering the IMC USA’s Code of Ethics. Management consultants with a CMC designation must be recertified every 3 years. Certification is not mandatory for management consultants, but it may give a jobseeker a competitive advantage.