Business Management Analyst Job Description
Business management analysts provide analytical services to companies to coordinate projects more efficiently and develop structured procedures. This is done through a variety of methods, such as conducting research, analyzing financial data, and assisting in budget preparation to formulate recommendations. Business management analysts usually work for consulting firms, but many work on a self-employed basis for various clients. Analysts often work long hours, particularly when working to tight deadlines, with around 25 percent working more than 40 hours a week. This role is well-suited to people who enjoy problem-solving, have an aptitude for analyzing data, and have a customer-oriented focus.
Business Management Analyst Duties and Responsibilities
The type of organization a business management analyst works for will determine the exact roles they take on. Based on job listings we analyzed, a business management analyst’s duties typically involve:
Gathering Information on Procedures
Business management analysts are responsible for gathering and organizing information about different issues in order to find ways to solve the problem and ensure that the procedure in question is improved to help staff and the business.
Business management analysts identify issues and ways to generate better results by analyzing data from a range of sources, including financial data (such as revenue and expenditures) and employment reports.
Develop Solutions and Improvements
This role involves developing solutions and alternative practices based on the data gathered, in addition to recommending new systems or organizational changes to improve the business.
Make Recommendations to Management
Business management analysts evaluate data from a variety of sources to make recommendations and suggestions to senior staff members and department heads. They share this information through presentations or written reports detailing where improvements can be made. They follow up with managers to ensure the changes are working.
Part of this role includes interviewing personnel and conducting on-site reviews to determine the methods, equipment, and staff that will be needed in order for the company to generate better results.
Business Management Analyst Skills and Qualifications
Business management analysts should have great communication, organization, and mathematical skills. Typically, employers require a bachelor’s degree or a master’s in business administration, along with several years’ experience and the following abilities:
- Analytical skills – a large part of this role involves analyzing and evaluating complex data, so business management analysts need to have excellent analytical and critical thinking abilities
- Problem-solving skills – this job centers around making recommendations and identifying ways to improve procedures, so it’s important that applicants are good problem-solvers and are comfortable making decisions and suggestions
- Time management – management analysts often work to tight deadlines on multiple tasks, so they should be able to prioritize their time efficiently
- Teamwork – business management analysts work with various people across the business, as well as with external contacts, so it’s important they remain professional and courteous at all times to ensure their team works effectively towards company goals
- Literacy and numeracy skills – from writing reports to preparing presentations and managing data sets, strong writing and math abilities are vital to this role
Business Management Analyst Education and Training
The minimum requirement to become a business management analyst is a bachelor’s degree, however some employers prefer candidates who have a master’s in business administration (MBA). Some colleges offer formal programs in management consulting, but management analysis is such a broad field that many subject areas are suitable as a foundation for this role. Common study areas include economics, accounting, marketing, and business. Many analysts enter this profession with several years of experience. Having a Certified Management Consultant (CMC) qualification gives applicants a competitive edge, but it’s not a formal requirement.
Business Management Analyst Salary and Outlook
The median annual salary for business management analysts is just over $81,000. Business management analysts in the 10th percentile earn around $46,000 a year, while the highest paid earn just under $150,000 annually. Depending on the company, bonuses and profit-sharing opportunities are sometimes available.
The more experience an applicant has, the higher their salary is likely to be. Many companies provide health insurance as part of the benefits package. The Bureau of Labor Statistics expects this sector to grow by 14 percent through 2026.
We’ve collected some of the best resources to help you jumpstart a successful career as a business management analyst:
Requirements Gathering for the New Business Analyst – a simplified guide to the complex world of business analysts, this book covers the critical skills needed to deliver great results on the job
Business Analyst’s Mentor Book – here you’ll discover a range of useful tips and best practices on a variety of subjects, from business analysis tools to requirements gathering and conflict management
Modern Analyst – this industry website is packed with useful guides, tools, and articles to help any aspiring business analyst develop their career. It also boasts forums and a strong online community
BA Times – resources here include whitepapers, webinars, and industry news that’ll help you stay ahead of the curve. It’s also a useful way to discover conferences and new professional tools
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