It felt rather informal and laid-back. On top of the behavioral test, be assured they will also be looking at your past experience and skills and may even test you to determine your quantitive and analytical abilities. Read more here. Your answer should show that you have an interest in learning about economics or finance, but it should also highlight any specific skills youve developed recently. Privacy Notice | It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. Tell me about yourself. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. and capabilities, Recent Trends in Securities Class Action Litigation: 2022 Full-Year Review, Virtual IT Operations Consulting. The second round was an interview with a Managing Director. Data Analytics Consulting. Well, NERA is no MBB. In the last step of the economic consulting case interview,youll present your recommendation and provide the major reasons that support it. NERA is pleased to welcome Masatake Kuramoto to our Global Transfer Pricing Practice. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. If you dont have direct experience, you can explain how your research skills helped you complete a project in the past. 1. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. Okay, innovation here isnt quite what Silicon Valley would call innovation its not actually anything new. They asked me mostly case-based questions on healthcare industry. Use your answer to highlight some of your most important analytical skills and how they benefit your work. Read their conclusions here: In the January 2023 issue of the ABA Economics Committee Newsletter, Dr. Ildik Magyari assesses the main antitrust concerns that vertical mergers can raise and the possible solutions which can combat this. If you have strong math skills, this can be an opportunity to show off your abilities. An example of how you overcame a problem, dealing with messy data, etc. Make sure to keep these qualities in mind when going into your economic consulting case interview. Went through my college, applied and got an online interview. You had some unusually varied work experience before you went to business school. I used this information along with industry benchmarks to create a realistic budget that would allow the department to meet its goals while staying within the companys overall budget.. The other hard thing to prepare was various ways to code into STATA or R specific econometric models. Economic consulting is used less for strategy, and more for litigation or regulatory compliance issues. However, folks are hired for brains, not wit, so be prepared to stay pretty serious while on the job and know that youll be chained to your desk more than you would at MBB or even a financial advisory firm. Managing Director Dr. Faten Sabry and Associate Director Dr. Ignacio Franceschelli compare how the CFTC, SEC, and the market classify crypto assets as securities or commodities. Evidence of the high demand for NERAs economic consulting services was seen in the companys quick growth, which made NERA a target for the 80s consulting consolidation. The construction costs $1B, but your client would . A client has a budget of xx, what would you do with it? I stayed late every night for two weeks until I completed the project.. Continue Reading 7. Consulting Firm: NERA Economic Consulting first round job interview. On 3 Feb Director Fernando Jimnez will discuss recent case law and explore emerging competition issues in Spain and the EU at the IEB Seminar on Recent Developments in EU Competition Law. Read on for an in-depth look at this smarty-pants boutique firm that serves as a great career launching pad for Economics undergrads and PhDs alike. Industry Coverage: mass media & communications; sports, leisure & recreation. How would you analyze allegations of discriminatory lending practices? In North America and Asia the typical undergrad will start as aResearch Associateand, if promoted, the career path will look like this: Research Associate Associate Analyst Analyst Senior Analyst, The notable difference is that there are 4 pre-MBA steps not just 2. You bring your talent, energy, and dedication. Candidates interviewing for Research Associate and Analyst rated their interviews as the hardest, whereas interviews for Associate Analyst and Intern roles were rated as the easiest. NERA helps companies predict likely lawsuits and litigation, which anyone would think valuable but it doesnt make them the darling of the advisory industry, especially when analysis or research predicts bad news. Although NERA is concentrated on the East Coast of the U.S., NERA reviews the global economic landscape. The other ~20% come from employee referrals (18%) and application online (2%). For example, it might study how consumers make purchasing decisions in one industry. In the January issue of the Wiley journal Climate and Energy, Managing Director Dr. Jeff D. Makholm examines the European natural gas disaster (so far). I interviewed at NERA Economic Consulting. I interviewed at NERA Economic Consulting. If youre interviewing with NERA Economic Consulting, youre in luck. One competency based interview and one economics one that covered mainly basic economic intuition on topics like natural monopolies. Tell us about your educational background. The individual interviews depend on who is on the team that's looking to hire you, so I wouldn't say there's such a thing as a "NERA" interview experience. Nothing unexpected. In both cases, I used data analysis software to examine trends and patterns that could inform our recommendations.. spread-sheet, case study, behavior questions. Case Type: pricing & valuation. NERAs first clients were in the natural gas industry. Regulatory Cases: These cases include topics such as auctions and regulatory economics. At NERA, the fit questions are of utmost importance they want to know you have integrity, smarts and skills so it would definitely be to your advantage to be well prepared. The higher the number, the more difficult the interviews on average. The whole process is not really intimidating but the feedback is quite slow. A week after I applied online, I received an invitation for a phone interview. Common stages of the interview process at NERA Economic Consulting according to 184 Glassdoor interviews include: Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators . Thanks in advance. The interview focus is largely dependent on which practice you are interviewing for. Gold mining is the resource extraction of gold by mining. Hi folks, I'm looking for an entry level referral from Analysis Group or NERA Economic Consulting. No case studies. Analytical experience? Macroeconomics looks at the economy as a whole. 06 December 2021 I interviewed at NERA Economic Consulting in Nov 2011. first round on campus interview, talk about research experience. Well, NERA is no MBB. Then, I would practice my presentation at least twice before presenting it to ensure I am comfortable with the content and delivery. The % of Interns Getting a Full Time Offer chart is meant to provide a realistic estimate of the hiring practices of the company based on the reviews at this company. 10. Economic consultants solve problems ranging from estimating future liabilities to helping settle legal disputes. Are there any questions you want to ask me?You need to log in to access the rest of the page. Industry Coverage: None The process took 2+ months. After discussing it with the team member, they agreed to recalculate their numbers based on my suggestions. Overall, I think the most tricky part is actually to make your resume good enough to get noticed. Weve compiled a list of some common questions that interviewers at NERA like to ask, along with some sample answers to help you prepare. This question can help the interviewer get a sense of your knowledge and how you learn. The approach to solving economic consulting cases is generally the same as traditional case interviews. The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company. It was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters. NERA consultants are impeccably trained to understand the rich complexities of the competitive landscape, and as such are confident in their abilities to develop competitive products and services. Talked with two analysts and 3 senior-level employees. NERA is a wholly-owned subsidiary of Marsh & McLennan Companies. Which area of economics are you most interested in and why? These can be areas of your framework that you did not have time to explore or lingering questions that you do not have great answers for. Human Resources Consulting. This question can help the interviewer get a sense of your personality and how you might fit in with their team. Very unprofessional. The deadline was tight, but I knew I could do it if I worked hard enough. Its also a chance to demonstrate that youve done some research about NERA Economic Consulting, so be sure to mention something specific about the company or its work. The brain teaser was pretty hard. The firm applies econometric and statistical analysis to provide strategy, studies, reports, expert testimony, and policy recommendations for . Example: I think that the economy is doing well overall. This question allows the interviewer to assess your ability to do so, as well as how you would approach this task. I applied in-person. NERA has developed quite a reputation, but has managed to keep itself small, clearly focused and prestigious in the process. Environmental Sustainability Consulting. Are there anything that you hate in your previous job/company? View Benjamin Seggerson's email address: bxxxxxxxxxn@nera.com & phone: +1-323-xxx-xx07's profile as Associate Director - Business Development & Marketing at NERA Economic Consulting, located in Washington, District of Columbia. Defense Consulting. Your client wants to estimate the market size for jeans in the U.S., how would you go about doing that? Health Sciences Consulting. A current research associate interviewed me and asked basic questions regarding previous research projects and analytical skills such as if I know any programming skills, R, Python, or STAT. Based on 776 salaries posted anonymously by NERA Economic Consulting Associate Analyst employees in Godalming. Then we all went to lunch from noon-1 with 2 other employees. I was a lateral hire. This question is an opportunity to show your passion for economics and how you can make a difference. You do not need to recap everything that you have done in the case, so focus on only summarizing the facts that are most important. They had a set of graphs that you would typically see in a statistics course or an econometrics course, like a QQ-plot, etc. 5. This knowledge has been helpful when applying for jobs at consulting firms.. Thanks in advance I interviewed at NERA Economic Consulting (London, England) in Mar 2017, Maths and economics test, micro economics and econometrics The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Lets just quickly discuss the difference between a top management consulting firm and an economic consulting firm. This question is an opportunity to show your passion for the field of economics. Financial Consulting. The first round consisted of two 30 min back to back interviews with Consultant and Senior Analyst. Dr. Arturo Gonzalez Joins NERA as Associate Director >, ISS SCAS & NERA: A Look Back at 2022 and Whats Ahead in 2023 >, Schne neue Verrechnungspreiswelt: Gewinnverteilung anhand anteiliger Value CreationEin Lsungsvorschlag (Teil 1) >. 199. The first interview was a 30 min one-on-one interview with one of their analyst. 4. The only information I had to go off of was what the department head told me about their current spending habits. This question is a way for the interviewer to assess your math skills and how you feel about them. NERA Economic Consulting requires its employees to be able to handle large amounts of data and interpret it effectively. NERA's economists create reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. They are looking for candidates with a strong quantitative background. NERA Economic Consulting sucht Werkstudent Competition Economics (m/w/d) A.S.I. However, I am confident in my ability to work with larger datasets if needed. I believe that if we continue to focus on these issues, we will see more sustainable growth.. While the course is focused on preparing candidates for management or strategy consulting roles, many of the strategies and frameworks can be applied to economic consulting roles. Case Type: business turnaround; math problem. Another way to think about frameworks is brainstorming different ideas and organizing them into different categories. Are there any particular projects or areas that you would enjoy working on at our firm? I applied through the campus recruiting program, and was invited for a first round interview on campus, where I spoke to one senior level person. Interviewing with NERA Economic Consulting? Interviewers want to know that youre aware of your weaknesses and are actively working on them. Read more here: On 16 February at 11:00 am EST, join NERA and ISS Securities Class Action Services for a virtual discussion on securities class action trends in 2022. MBAs or other experienced hires are usually brought on as, Consultant Senior Consultant Vice President Senior Vice President. Free interview details posted anonymously by NERA Economic Consulting interview candidates. The team member had calculated the cost of a new product launch for a company at $1 million, but I felt there was a way to reduce those costs by 20%. BCG Platinion When answering, it can be helpful to mention something specific about one of NERAs clients that inspires you or makes you excited to work for this company. Second, an interview at NERA can seem pretty laid back during the initial rounds.. You can expect anything from going to dinner with current employees to being invited to a NERA office and chilling with the guys there, so expect some fun and bring some personality into the. I applied through college or university. There may also be a written test or case study component to the interview process. The extent to which you are expected to have this knowledge depends on the tenure of the role you are interviewing for. Have some insider perspective that youd like to share? Your commitment to these values is evident in your hiring practices, employee resource groups and training programs.. You could also be asked to provide your opinion on a particular business issue or situation. You may want to summarize the case background information back to the interviewer to confirm your understanding of the case. I love being able to use my skills to find solutions for clients who are facing challenges or need advice on how to improve their business. Interviewed for one hour. According to LinkedIn Steven Failla started working on 2019, then the employee has changed 2 companies and 2 jobs. What are some things that motivate you to go above and beyond in your job? Your economic consulting case interview will begin with the interviewer giving you the case background information. NERA, Monckton Chambers, and Augusta Ventures held an in-person conference exploring the UKs developments in competition litigation and expectations for 2023. Make sure you have a compelling story about yourself that leads to why you are interested in the job. Industry Coverage: entertainment, performing arts. Note that these groups are inclusive to employees of Marsh & McLennan: Are there more topics youre interested in hearing about in our firm profiles? Interview Questions. Are you pleasant to be around? Example: One thing I think needs to change in the field of economics is the way we measure GDP. In this first round interview all of the questions were behavioral. They are available in digital or paperback format on Amazon. Not invited for the second round Of interview. why NERA? Interviewing with NERA Economic Consulting? While work experience at NERA can help you gain great experience and skills in microeconomics and other related fields opening many doors of possibility, we dont see many NERA alumni holding key strategic positions in Fortune 100 companies. We'll give you the experience, opportunity, and support to grow. I have worked on many projects where we were given tight deadlines and strict budgets, but I always managed to meet expectations while maintaining high-quality work.. Dont miss out on NERA and ISS SCASs live securities trends webinar tomorrow: A Look Back at 2022 and Whats Ahead in 2023. Register now: We are pleased to announce Dr. Jordan Milevs promotion to Director. The firm provides economic advice, analysis, expert testimony, and regulatory insight for global clients throughout North America, Latin America, Europe, and the Asia-Pacific region. A pet shop retailer wants to open a new 400m2 shop. After several email communications, HR arranged an interview with a senior partner at New York. Economic consultants typically have expertise in a specific area of economics, such as microeconomics or econometrics, and use this knowledge to advise clients on issues such as pricing, regulation, and . The company asked for resume, transcript, writing sample, and recommendation. The first interview was a mix of behavioral and a simple case about stock price in a merger. Make sure you can talk alot about all experiences you have working with data. NERA Economic Consulting is a global consulting firm comprised of experts dedicated to using finance, economic, and quantitative principles to tackle complex legal and business challenges. Required fields are marked *, Are you a human or a robot? My ability to analyze complex data has helped me discover new insights that have led to more effective solutions for clients.. While MBBs main focus is strategy, economic consulting firms like NERAs focus is on economics first and strategy second. Case Interview Question #01003: The client Turner Construction Company is a North America-based, international construction services company and is a leading builder in highway. The detailed ranking includes interview outcomes, length of process, interview details, and overall company . The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). 116 NERA Economic Consulting Research Associate interview questions and 105 interview reviews. Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. 206. In your answer, define macroeconomics and microeconomics and explain how they differ from each other. Consulting Firm: NERA Economic Consulting first round full time job interview. Example: My previous manager would say that my greatest strength is my ability to remain calm under pressure. Interview process at NERA Economic Consulting. I had to explain how I would have ran the regression in my program of choice. M&M companies are traditionally excellent pioneers of diversity and inclusion culture check out the below under Interviews & Recruiting. This makes sense to us in a smaller firm (only 500 people vs. the 3000+ at MBB), you dont always need to rely on standardized practices the hypothesis is that good people can identify other good people. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. 2023 National Economic Research Associates, Inc. Did you know that your browser is out of date? I got a phone call with an offer 2 days later with a 2 weeks deadline to answer. Despite recent global expansion, the core offices are still located in the U.S. in the mid-Atlantic and northeast academic hotbeds. Economic consulting focuses on the application of economic principles to real-world problems, while management consulting focuses on providing strategic and operational advice to businesses. 1 Charles River Associates Economic Consultant interview questions and 1 interview reviews. The first round consisted of two 30 min back to back interviews with Consultant and Senior Analyst. 2. The interview lasted about 30 min with one consultant. Interview Type: Behavioral and Fit Interviews. The most important part of this step is to verify the objective of the case. Consulting Firm: NERA Economic Consulting first round full time job interview. This question helps the interviewer determine if you possess the necessary skills to succeed in this role. Research Associate at NERA Economic Consulting Washington, District of Columbia, United States. McKinsey & Company If youre looking to become an economic consultant, youll need to ace your economic consulting case interviews. The consultancy that started up in 1961 with only 17 employees currently has 500+ employees and is a global authority on economics with an impressive client list from over 130 countries and in dozens of industries. I applied online. What are your selling points? They asked me to draw graphs and to show them to the camera. While there is a broad range of business situations and problems you could face in an economic consulting case interview, there are four major types: Corporate / Advisory Cases: These cases include topics such as corporate governance and compliance, risk advisory services, transaction advisory, M&A support, and valuation. The interview last from 9:30 to noon. Sometimes I get so caught up in the details that I forget why Im doing what Im doing. partner interview, Anonymous Interview Candidate in New York, NY, I applied through college or university. On a scale of 1-10 where 1 is Poor and 10 is Excellent, rating is 6. Ms. Orlandi specializes in matters related to power, capacity, and renewable energy markets and auctions. My studies helped me understand how businesses work and what factors influence them. Describe independent research project that you have worked on, Case studies about regulation of natural monopolies and electricity market design. One of them was resume based, and others tested on how fast the candidate could respond to real-world economic problems. 2005-2023 Wall Street Oasis. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Not answering the right business question is the quickest way to fail a case interview. The case interview for economic consulting is similar to that for management consulting . However, NERA people the ones who stay love their work, find it interesting and challenging, and enjoy working with the high profile cases that the best economic consulting firm in the industry offers them. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. We seek to recruit Students with quantitative backgrounds, particularly as they align with economics and finance, as well as in related fields such as accounting, statistics, computer science, and other associated disciplines. Average salary for NERA Economic Consulting Associate Analyst in Godalming: 52,523. They rescheduled for me. In addition, especially as you get more senior in the firm, many people are very NERA-proud because the firm is privately-owned, NERA reportedly took great care of its team during the downturn, when other large consulting firms churned major layoffs. how much should they spend on advertising? how do you choose which ones to do? The career path of NERA is not too different to that of other major consulting firms. As NERA grew, however, the industries they worked with started to include major utility and telecommunications companies like AT&T. The process took 2 weeks. What would you say is your biggest weakness as an analyst? Graduating with Econ masters from Yale next May ~ roughly 2 years work experience in research & data analysis at a Big 4. The phone interview featured relatively straightforward questions and none that I found too tricky. What are your thoughts on the current state of the economy? For example, I worked with a client who was considering opening a new location. It had various complications, such as the region, types of doctors/patients, timeframe of the ads, and etc. Although the corporate world at large isnt quite sure what to do with ex-NERA consultants, they demonstrate a surprisingly entrepreneurial spirit taking on leadership positions in start-ups or serving as CEOs and Managing Directors of smaller companies. You can look at the other case interview examples to practice thinking about how you would structure an approach to solve those cases. Economic consultants provide a third-party perspective on issues such as antitrust concerns (standard and M&A related), anti-competitive action, etc. On a scale of 1-10 where 1 is Easy and 10 is Difficult, rating is 5. A week after the phone interview, I was invited for an on-site interview. Economists at the firm create studies, expert testimony, strategies, reports, and policy recommendations for the world's leading law firms . It was a typical Hirevue interview not much more that I can actually say to describe it but I have to meet the character minimum. They would interview you and let you choose which office you want to work) One first round phone interview followed by a super day. If you study like you are going to interview for an MBB firm, you should do quite well but remember, the emphasis is less on strategy and more on structure and computation. NERA Economic Consulting Case Example #1: Your client is a North American construction company that is considering taking on a public-private-partnership project to build a stretch of interstate highway for the federal government. Does this vary by practice area? I got to their office at 9 and there were 2 other candidates there. You may be asked to brainstorm a list of potential ideas. The interviewers were very interested in the candidate's statistical skills. A consultant asked me some technical questions on economics and econometrics, which are the most difficult ones. Applied through their website and got contacted about the first round 1-2 months later. 146 followers . The key to answering qualitative questions is to structure your answer. From Senior Analyst, in order to get promoted you will typically be sent back to school to get an MBA. He would ask about specific concepts related to econometrics and economics, and there were a few concepts that I did not expect to have to explain. The first round consisted of two 30 min back to back interviews with Consultant and Senior Analyst. NERA has a large number of practice areas that the firm divides up into 5 categories: As you can see, the firm covers a much broader spectrum of practice areas than many of the core strategy consulting firms we profile. NERA (National Economic Research Associates), Inc. was founded in 1961 by two leading economists, Dr. Irwin Stelzer and Dr. Jules Joskow with the vision of establishing the first economic consulting firm. This interview was based mostly of behavioral and technical questions. Student. The process took 2 weeks. Register today: Dr. Dan Werner and Huy Dang discuss the theory and practice of citation analysis and how it can be relevant to the work of damages experts and valuation analysts in a litigation context. 203. Be the first to find this interview helpful. NERA Economic Consulting is looking for candidates who have strong analytical skills. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Easy. This question can help the interviewer get a sense of your economic knowledge and how you view current events. Example: Economic forecasts are a valuable resource for businesses because they provide insight into future trends that may impact their operations. I think they answered truthfully or to the best of their knowledge. On average, Steven Failla works for one company for 2 years 2 months. Free career advice, salary information, interview tips, referrals from employees at NERA Economic Consulting.