Management analysts
Also called Management consultant, Strategy consultant, Business analyst, Operations consultant, Consultant
In brief
In May 2025, BLS counted 898,280 US management analysts, with median pay of $101,860 a year. Of the BLS counts since 2003, the May 2025 count is the highest. The earliest figure here is an estimate of 2,000 from 1910, not measured the same way as today's count. The last full technology era for management analysts: Internet research, knowledge management systems, and big data analytics, 2000 to 2020.
What the sources say
Official outlook
BLS projects employment to grow 10.1% from 2025 to 2035.
AI exposure studies
- 50% of this job's tasks are exposed to large language models. Not a forecast of job losses. Eloundou and others, 2023
- 35% of work tasks in business and financial operations occupations, this job's group, are exposed to automation by AI. Not a forecast of job losses. Goldman Sachs, 2023
Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35. BLS publishes these counts as yearly survey snapshots and cautions against reading them as a precise trend. In May 2021 BLS changed how it estimates these counts (a model-based method using three years of survey data) and moved fully to the 2018 occupation codes, so part of a change across 2021 can come from the method rather than the work.
Last updated .
Cite this page
Future History. (2026, October 11). Management analysts: jobs and pay since 1910 [Data set; data as of BLS OEWS May 2025; BLS Employment Projections 2025-35]. https://futurehistory.earth/timeline/13-1111
Future History. "Management analysts: jobs and pay since 1910." Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35. Last modified October 11, 2026. https://futurehistory.earth/timeline/13-1111.
@misc{futurehistory_13_1111, author = {{Future History}}, title = {Management analysts: jobs and pay since 1910}, year = {2026}, month = oct, howpublished = {\url{https://futurehistory.earth/timeline/13-1111}}, note = {Last updated 2026-10-11. Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35}, }
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≈ $99,249 in 2024 prices (derived by us, CPI-adjusted)
Frederick Winslow Taylor opens his independent consulting practice in Philadelphia, offering "management engineering" services to manufacturing firms. This is arguably the first standalone management consulting firm in history. Taylor had spent the previous decade at Midvale Steel and Bethlehem Steel conducting what he called "scientific management" studies -- timing workers' motions, redesigning tools, and restructuring incentive pay. His consulting practice charged per-diem rates and delivered written reports. Taylor's Eastern Rate Case testimony in 1910 before the Interstate Commerce Commission, where attorney Louis Brandeis argued that railroads could save $1 million daily through scientific management, made the field internationally famous.
James O. McKinsey founds James O. McKinsey and Company in Chicago. McKinsey is a University of Chicago accounting professor who became convinced that businesses need systematic financial and management analysis, not just accounting. He called his approach a "management audit." The firm later split after McKinsey's death in 1937: the New York office, led by Marvin Bower, became McKinsey and Company. The Chicago office, led by Andrew Kearney, became A.T. Kearney. McKinsey under Bower will define the modern consulting model.
Marvin Bower joins McKinsey's New York office. Bower, then 27 and trained as a lawyer, set about transforming consulting from a loosely organized service into what he explicitly called a "profession" -- with codes of ethics, client confidentiality obligations, and a commitment to telling clients the truth even when unwelcome. In 1937 he formalized these as operating principles. Bower modeled the firm on law and medicine: outside advisors whose authority came from expertise and trust rather than institutional position. He served as the firm's director until 1967 and his framework shaped McKinsey's culture for the remainder of the century.
Bruce Henderson founds the Boston Consulting Group as a division of Boston Safe Deposit and Trust Company, with Henderson as its sole consultant. Henderson had been a strategist at Arthur D. Little. He brought a distinctive philosophy: management decisions should be grounded in quantitative competitive analysis rather than generalized frameworks. BCG would introduce the experience curve (1966) and the growth-share matrix (1970), two of the most influential analytical tools in the history of business strategy. BCG's rapid success in the late 1960s triggered a wave of competition for talent with McKinsey and spawned a generation of strategy boutiques.
Microsoft PowerPoint is released in version 1.0 for Windows. Within five years, the PowerPoint deck will become the consulting profession's universal deliverable format. The "McKinsey deck" -- a structured sequence of slides, each carrying a single key message in its title, with supporting data beneath -- becomes a recognizable artifact of corporate advisory culture. By the mid-1990s, learning to build a "consulting-quality" PowerPoint deck is an explicit part of every major firm's analyst training curriculum. Paradoxically, the tool that was supposed to speed up communication created a new time sink: the crafting of perfectly formatted slide decks, which consumed enormous junior analyst hours, became the task most directly in the crosshairs of BCG Deckster and similar AI tools decades later.
Arthur Andersen, then one of the five largest consulting and accounting firms in the world with over 85,000 employees, collapses after the Enron scandal. Its consulting arm, Andersen Consulting, had already been spun off and rebranded as Accenture in 2001 following years of internal disputes. The Andersen collapse is the most dramatic event in consulting industry history: it erased a major employer virtually overnight, accelerated consolidation in the Big Four, and permanently elevated public scrutiny of consulting firm independence and objectivity. Approximately 85,000 Andersen employees -- including tens of thousands of management consultants and analysts -- had to find new positions.
McKinsey deploys Lilli -- a firm-specific LLM platform trained on 100,000+ proprietary documents -- to over 70,000 employees. The Financial Times reports in October 2024 that Lilli handles document synthesis, benchmark research, and first-draft deliverable sections that previously occupied junior analyst time for days. BCG confirms that Deckster, its AI slide-generation tool, reduces junior consultant slide-production time by an estimated 60-70%. Bain launches Aura; Deloitte launches Zora. LinkedIn's 2026 "Jobs on the Rise" report identifies "AI Strategy Consultant" as one of the fastest-growing roles in the United States -- largely populated by management analysts who have built AI-specific advisory competency. The profession is being restructured from the inside out: the commodity tier that drove headcount growth is automating, while the judgment tier commands premium and keeps growing.
Will AI replace management analysts? What the research says
Each figure is stated by the named source; we publish no forecasts of our own. Where sources disagree, we show the disagreement rather than an average.
Each figure is stated by the named source; we publish no forecasts of our own. Where sources disagree, the spread is the honest signal.
What's changing day to day for management analysts
Three parts of your work where AI is already doing real lifting, and what stays yours.
AI is sitting alongside you hereConduct market-sizing and industry benchmarking research: direct ChatGPT, Claude, or Perplexity to synthesize a structured landscape of competitors, market share data, and growth rates from public filings and news
Conduct market-sizing and industry benchmarking research: direct ChatGPT, Claude, or Perplexity to synthesize a structured landscape of competitors, market share data, and growth rates from public filings and news; validate AI-sourced figures against primary data sources (McKinsey Lilli, Statista, Bloomberg) before presenting to the engagement team.[3],[5],[2]
The boilerplate market-sizing page is now AI-generated in under an hour. Your value is in validating the methodology, surfacing the one non-obvious insight the model missed, and framing the "so what" for the client. Build a primary-source verification habit and develop a point of view on every benchmark number, not just the number itself.
AI is sitting alongside you hereBuild client-facing slide decks and board presentations: use BCG Deckster or McKinsey Lilli to generate structured first-draft PowerPoint slides from a bullet-point outline and data tables
Build client-facing slide decks and board presentations: use BCG Deckster or McKinsey Lilli to generate structured first-draft PowerPoint slides from a bullet-point outline and data tables; then apply engagement judgment to restructure the narrative flow, select the right chart types, and ensure client-appropriate tone and confidentiality.[4],[3]
Deckster writes the first most most engagement deliverables (Business Insider, 2024). The irreplaceable part is your judgment about what the client actually needs to hear, in what order, and with what degree of directness. Develop an explicit narrative framework (Pyramid Principle, SCR) that you apply before and after the AI draft, not instead of it.
AI is sitting alongside you hereSynthesize expert interview transcripts and stakeholder interview notes: use AI transcription and summarization (Otter.ai, Claude) to convert raw call recordings into structured insight memos within minutes
Synthesize expert interview transcripts and stakeholder interview notes: use AI transcription and summarization (Otter.ai, Claude) to convert raw call recordings into structured insight memos within minutes; triage AI-identified themes against the engagement hypothesis and resolve contradictions across multiple expert views.[5],[2]
AI summarization flattens nuance: an expert who hedged a claim or contradicted a prior assertion in passing is easy to miss. Develop active listening frameworks for the call itself: the transcript summary cannot capture the pause before an answer or the tone shift that signals discomfort. Triangulate three sources before treating any AI-surfaced insight as confirmed.
Where management analysts go next
Natural next steps for someone with your foundation: not exits, evolutions.
- General and Operations Managers
- US median pay
- $105,770 (May 2025)
- BLS outlook 2025-35
- +5%
- Project Management Specialists
- US median pay
- $102,320 (May 2025)
- BLS outlook 2025-35
- +6.7%
- Financial and Investment Analysts
- US median pay
- $102,740 (May 2025)
- BLS outlook 2025-35
- +7.2%
- Data Scientists
- US median pay
- $120,230 (May 2025)
- BLS outlook 2025-35
- +34.6%
What each move takes
General and Operations Managers
The natural landing zone for consultants who move client-side: Operations Managers own the implementation of the changes management analysts recommend, gaining execution authority, P&L accountability, and deeper organizational embeddedness that is structurally harder to automate or outsource. Consultants bring an unusually broad pattern-recognition toolkit, having seen several organizations in the same challenge, which gives them an edge as operators. BLS projects strong demand for Operations Managers through 2033. The shift from advisory to operating is culturally significant but leverages the same analytical and stakeholder-management skillsets.
How has the work of management analysts changed since 1886?
The tools that defined the work, one line per era. Select an era to see how it reshaped the work.
Stopwatch, clipboard, and observation (scientific management era)
The foundational tool of the first management consultants was a stopwatch. Frederick Winslow Taylor and his followers conducted time-and-motion studies by standing on the factory floor, timing each operation to its component motions, and reconstructing the workflow from observed data. The deliverable was a written report, typically typed and bound, with hand-drawn process flow charts and tables of observed times. Taylor himself described detailed protocols for which tasks to measure, how many trials to average, and how to account for "resting time." The entire analytical method was human observation, pencil-and-paper arithmetic, and professional judgment. The consulting output was a management report -- the profession's core deliverable form, which has not changed in shape (though it has changed dramatically in production technology) in more than a century.
Adding machines, tabulating equipment, and structured frameworks (post-war professionalization)
The post-war consulting boom brought two new tools: mechanical tabulating and adding machines (IBM punch-card equipment was standard in large consulting engagements by the late 1940s) and the structured analytical framework. McKinsey's Marvin Bower formalized the "issue tree" and hypothesis-driven structured analysis as the consulting method: identify the key question, break it into mutually exclusive and collectively exhaustive sub-questions, gather only the data relevant to those questions, synthesize into a recommendation. This framework-plus-tabulation model accelerated analysis and gave consulting deliverables a reproducible structure. Booz Allen Hamilton institutionalized the "management audit" in the same era -- a comprehensive review of organizational functions that became a standard consulting product across government and private sector clients.
Effect on the workThe adoption of structured analytical frameworks allowed consulting firms to leverage junior staff more systematically: a framework trained to an analyst in weeks could be applied across dozens of client situations. This was the first "scaling mechanism" in the profession -- the template that made the pyramid staffing model (few partners, many analysts) economically viable.
Strategy frameworks and portfolio matrices (BCG experience curve 1966, growth-share matrix 1970)
Bruce Henderson founded the Boston Consulting Group in 1963 with an explicit mission to import quantitative analytical rigor into strategic consulting. In 1966 he published the "experience curve" -- the empirical observation that unit costs decline predictably with cumulative production experience, typically with each doubling of volume. In 1970, BCG consultant Alan Zakon developed the growth-share matrix ("dogs, cash cows, stars, question marks") as a tool for allocating capital across business units in a diversified corporation. These frameworks were not just analytical tools; they were consulting products. A McKinsey or BCG engagement in the 1970s could be sold in part on the promise of applying a named framework with known properties to a client's portfolio decisions. The MBA programs, which were graduating tens of thousands of students per year by the 1970s, taught these frameworks, creating a shared professional vocabulary across firms and clients.
Effect on the workThe framework era supercharged consulting growth: by packaging analytical approaches as branded intellectual property, firms could sell the same method to hundreds of clients, command premium fees, and train junior staff quickly. The headcount of the top consulting firms grew between the early 1960s and the early 1980s.
Spreadsheets, PowerPoint, and IT outsourcing (McKinsey deck, ERP implementations)
Lotus 1-2-3 (1983) and later Microsoft Excel (1987) transformed the management analyst's analytical toolkit: financial modeling, scenario analysis, and sensitivity testing that had required days of manual calculation could be done in hours. Microsoft PowerPoint (first released 1987, dominant by the early 1990s) standardized the consulting deliverable format that persists today: the slide deck with a pyramid of points, a key message per slide, and data charts on a white background. The consulting "deck" became a professional artifact with its own aesthetic conventions, quality signals, and career-critical mastery requirements. Simultaneously, the 1990s brought a new consulting service line: IT systems implementation (SAP R/3, Oracle ERP, PeopleSoft) and outsourcing strategy. Andersen Consulting (later Accenture), EDS, and the Big Eight advisory arms grew to dwarf the older strategy boutiques. By 1997, Andersen Consulting had over 43,000 consultants.
Effect on the workSpreadsheets and PowerPoint did not displace management analysts; they dramatically expanded the addressable market. Tasks that required a data processing team in 1975 could be done by one analyst with a laptop in 1992. The productivity gain was captured as fee revenue rather than workforce reduction: firms expanded headcount and raised rates simultaneously.
Internet research, knowledge management systems, and big data analytics
The post-dot-com era consulting toolkit was defined by two capabilities: access to global information via the internet (replacing the proprietary knowledge-base advantage that top firms had maintained through expensive printed research) and the rise of quantitative analytics. McKinsey Global Institute's research function, Bain's Net Promoter work, and BCG's data analytics practice all reflected a shift toward evidence-based advisory grounded in large datasets rather than framework application alone. Proprietary firm knowledge management systems (McKinsey's internal WikiMcKinsey, BCG's knowledge management intranet) attempted to codify and share engagement learnings across a firm that was now global and tens of thousands of people. Advanced Excel modeling, SQL queries, Tableau dashboards, and later Python notebooks became standard tools for the analyst and associate tier.
Large language models and firm-specific AI platforms (McKinsey Lilli, BCG Deckster, Bain Aura, Deloitte Zora)
The deployment of large language models inside major consulting firms began in earnest in 2022-2024 and is the most disruptive tool shift the profession has experienced since the spreadsheet. McKinsey deployed Lilli -- built on a custom LLM stack with access to the firm's 100,000-document proprietary knowledge base -- to tens of thousands of employees by October 2024. BCG launched Deckster, which generates structured first-draft PowerPoint presentations from bullet-point inputs, as part of its GENE (Generative AI Engine) platform. Bain launched Aura; Deloitte launched Zora AI for finance and operations workflows. The affected tier is the junior analyst: market-sizing research, benchmark assembly, expert-call summarization, and slide formatting -- the tasks that occupied most a first-year analyst's time -- are now handled by AI in a fraction of the time. The tasks that remain firmly human are problem framing, organizational politics navigation, C-suite advisory relationships, and change management on the ground.
Effect on the workBLS projects employment growth for management analysts through 2034 despite the AI disruption at the junior tier, because demand for senior advisory judgment is rising. The structural effect may be a contraction in junior analyst headcount per engagement (fewer first-year analysts needed when AI does the research) offset by more senior-tier work. Firms that once staffed a team may move toward a team -- same revenue, fewer junior bodies.
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Browse all rolesManagement Analysts employment and pay by year
In other countries
The latest figure each country's statistics agency publishes for this job. Each uses its own occupation definition, survey basis and currency, so the numbers are not directly comparable with each other or with the US figures.
Canada (NOC 11201)
- Employment, 2020
- 97,645, Statistics Canada Census 2021 Official statistic Report an errorStatistics Canada Census of Population 2021: number of persons with employment income in NOC 11201 Professional occupations in business management consulting, Canada, reference year 2020. A recipients basis (anyone with employment income during the year), slightly broader than a point-in-time employed count. Statistics Canada Open Licence.
- Median pay, 2020
- C$85,000, Statistics Canada Census 2021 Official statistic Report an errorStatistics Canada Census of Population 2021 (Table 98-10-0586): median employment income for NOC 11201 Professional occupations in business management consulting, Canada, reference year 2020, full-year full-time workers (the basis comparable to the US OEWS full-time median). Statistics Canada Open Licence.
United Kingdom (UK SOC 2431)
- Employment, 2025
- 241,000, ONS ASHE 2025 Official statistic Report an errorONS Annual Survey of Hours and Earnings (Table 14): employee jobs in SOC 2431 Management consultants and business analysts, United Kingdom, 2025 (ASHE "number of jobs", thousands x1000; excludes self-employment). Open Government Licence v3.0.
- Median pay, 2025
- £51,729, ONS ASHE 2025 Official statistic Report an errorONS Annual Survey of Hours and Earnings (Table 14.7a): median gross annual pay for all employee jobs in SOC 2431 Management consultants and business analysts, United Kingdom, 2025. Open Government Licence v3.0.
Australia (ANZSCO 2247)
- Employment, 2025
- 102,500, ABS Labour Force Survey Official statistic Report an errorABS Labour Force Survey (Detailed), table EQ08: employed persons in ANZSCO 2247 Management and Organisation Analysts, national (summed across sex and state/territory), annual average of 4 quarterly estimates.
- Median pay, 2025
- A$127,088, ABS Employee Earnings May 2025 Official statistic Report an errorAnnualised (x52) from A$2,444 median weekly earnings. ABS Survey of Employee Earnings and Hours, May 2025: median pay for full-time non-managerial employees paid at the adult rate, before tax. Surfaced via the Jobs and Skills Australia occupation profile.
View all 30 years of cited US data, each linked to its source
| Year | US employment | Annual pay (median unless marked) | Source | Report |
|---|---|---|---|---|
| 1910 | 2,000 | n/a | Est., Stevens Institute of Technology Researched context | Report |
| 1940 | 12,000 | n/a | Est., McKenna, Christopher D Researched context | Report |
| 1967 | 50,000 | $15,000 | Est., Consulting Quest (employment) Researched contextEst., Recruiting Blogs (pay) Researched context | Report |
| 1990 | 200,000 | n/a | Est., FRED / BLS Current Employment Statistics Researched context | Report |
| 1997 | n/a | $52,110 (average) | BLS OEWS 1997 Official statistic | Report |
| 1999 | n/a | $58,337 | Census 2000 Researched context | Report |
| 2000 | 501,000 | $55,040 | BLS CPS 2002 (employment) Researched contextBLS OEWS 2000 (pay) Official statistic | Report |
| 2003 | 423,880 | $62,580 | BLS OEWS May 2003 Official statistic | Report |
| 2004 | 416,340 | $63,450 | BLS OEWS May 2004 Official statistic | Report |
| 2005 | 441,000 | $66,380 | BLS OEWS May 2005 Official statistic | Report |
| 2006 | 476,070 | $68,050 | BLS OEWS May 2006 Official statistic | Report |
| 2007 | 499,640 | $71,150 | BLS OEWS May 2007 Official statistic | Report |
| 2008 | 535,850 | $73,570 | BLS OEWS May 2008 Official statistic | Report |
| 2009 | 552,770 | $75,250 | BLS OEWS May 2009 Official statistic | Report |
| 2010 | 536,310 | $78,160 | BLS OEWS May 2010 Official statistic | Report |
| 2011 | 538,950 | $78,490 | BLS OEWS May 2011 Official statistic | Report |
| 2012 | 540,440 | $78,600 | BLS OEWS May 2012 Official statistic | Report |
| 2013 | 567,840 | $79,870 | BLS OEWS May 2013 Official statistic | Report |
| 2014 | 587,450 | $80,880 | BLS OEWS May 2014 Official statistic | Report |
| 2015 | 614,110 | $81,320 | BLS OEWS May 2015 Official statistic | Report |
| 2016 | 637,690 | $81,330 | BLS OEWS May 2016 Official statistic | Report |
| 2017 | 659,200 | $82,450 | BLS OEWS May 2017 Official statistic | Report |
| 2018 | 684,470 | $83,610 | BLS OEWS May 2018 Official statistic | Report |
| 2019 | 709,750 | $85,260 | BLS OEWS May 2019 Official statistic | Report |
| 2020 | 734,000 | $87,660 | BLS OEWS May 2020 Official statistic | Report |
| 2021 | 768,450 | $93,000 | BLS OEWS May 2021 Official statistic | Report |
| 2022 | 808,860 | $95,290 | BLS OEWS May 2022 Official statistic | Report |
| 2023 | 838,140 | $99,410 | BLS OEWS May 2023 Official statistic | Report |
| 2024 | 893,900 | $101,190 | BLS OEWS May 2024 (employment) Official statisticBLS OEWS May 2024 (pay) Official statistic | Report |
| 2025 | 898,280 | $101,860 | BLS OEWS May 2025 Official statistic | Report |
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