NERA Economic Consulting Careers and Employment | Indeed.com Graduating with Econ masters from Yale next May ~ roughly 2 years work experience in research & data analysis at a Big 4. Interview. Macroeconomics looks at the economy as a whole. I interviewed at NERA Economic Consulting (Washington, DC) in Oct 2017. Half an hour of an HR interview and two case studies. They also asked about the motivation for working in economic consulting. Human Resources Consulting. The other two were behavioral and with younger staff/analysts. I interviewed at NERA Economic Consulting in Jan 2023. That means: motivation, clearly defined research question, methodology, problems and solutions, results. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Then we all went to lunch from noon-1 with 2 other employees. Industry Coverage: engineering, construction; government, public sector. Youre the captain of a pirate ship, and your crew gets to vote on how the gold is divided up. Health Sciences Consulting. Example: I have worked with large datasets before, although I prefer working with smaller sets that are more manageable. Finance Cases: These cases include topics such as bankruptcy, consumer protection in financial services, financial institutions and banking, and financial risk management. Asked about mistakes in data, what certain graphs meant, and a probability question. Communication skills: Can you communicate in a clear, concise way? 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. It studies things like inflation rates, unemployment levels and gross domestic product.. 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. Describe a time where you were given a task with limited information. What is economic consulting? 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. Its important to be honest, but also highlight some of your best qualities that will make you an asset to the organization. Mostly behavioral questions with a few technical questions, a lot of the interviewers asked the same questions about my background and research experience. Simply put, as a company gets more insights, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire data set. 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). Phone interview consisted of behavioral and fit questions, such as questions about research experience and interests. Or, solve 6 sample cases for free! Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. Tell us about your educational background. 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.. The case interview for economic consulting is similar to that for management consulting . 200. This question can help the interviewer understand how you handle conflict and disagreements in the workplace. Regulatory Cases: These cases include topics such as auctions and regulatory economics. NERA Economics Impact Report. Hi folks, I'm looking for an entry level referral from Analysis Group or NERA Economic Consulting. On a scale of 1-10 where 1 is Poor and 10 is Excellent, rating is 6. 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. A significant amount of NERAs recruits (we estimate 80%+) come from the firms campaigns at standard target schools (see below for list of target schools). In other places such as Cornerstone. Use examples from your experience to explain the value of economic forecasting and how it helps businesses make important financial decisions. 202. NERA Economic Consulting is a subsidiary of parent company Marsh & McLennan Companies, a Fortune 500 company in the diversified financial industry who also owns a number of firms including Mercer, an HR Consulting firm, and Oliver Wyman, a top 10 Financial/Strategy Consulting firm. These firms include: While economic consulting interviews may seem intimidating and challenging, know that they can be mastered by learning the right strategies and getting enough practice. How would you determine econometrically if a firm is inefficient? Data Analytics Consulting. Analysis Group The other 50%, however, did have case questions to solve mostly situational. How High Above Ground Would New Rope Sit? A consultant asked me some technical questions on economics and econometrics, which are the most difficult ones. IT Operations Consulting. Litigation Cases: These cases include topics such as antitrust and competition, class action lawsuits, commercial litigation, intellectual property, international arbitration, labor and employment, mass torts and product liability, and securities and finance. 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. In fact, if you look at a list of top 20 consulting firms, NERA wont be on it. Ive always been someone who likes to solve problems, so this job is a great fit for me., Common NERA Economic Consulting Interview Questions. 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. KPMG. The other hard thing to prepare was various ways to code into STATA or R specific econometric models. Continue Reading For example, it might study how consumers make purchasing decisions in one industry. The process took 3 weeks. Prepare for 40 min, presentation, and QA partner interview. Two rounds of interviews with a mix of junior/senior level staff. Are there any particular projects or areas that you would enjoy working on at our firm? The key reason? This question is a basic test of your understanding of economics. Economic consulting is used less for strategy, and more for litigation or regulatory compliance issues. The second round was an interview with a Managing Director. Dr. Vinita Juneja and Ivelina Velikova will attend WWCDAs Annual Attorney Meeting to participate in engaging discussions and collaborate on WWCDAs mission of advancing women in law. Iris Li - Research Associate - NERA Economic Consulting - LinkedIn WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, Anonymous interview candidate in New York City, Anonymous interview candidate in New York, Anonymous interview candidate in Washington DC, Anonymous interview candidate in Providence, 101 Investment Banking Interview Questions, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. Hi dear fishes, I'm looking for referrals for analyst/associate/econ consultant roles for June 2023 start. No case studies. Diversity groups are called Employee Network Groups in Marsh & McLennan companies. Read more here. Example: I would first make sure I have all my materials ready, including any visuals or slides I may need. Example: Economic forecasts are a valuable resource for businesses because they provide insight into future trends that may impact their operations. Example: Math is very important to me because I am able to use my math skills every day at work. 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. NERA Economic Consulting Interview Questions | Glassdoor Consulting Firm: NERA Economic Consulting first round full time job interview. Your economic consulting case interviews will give you a taste of what it would be like to be an economic consultant. 204. Read more: We are excited to announce Dr. Soren Tang Sorensen has been promoted to Director. The first interview was a 30 min one-on-one interview with one of their analyst. And lets just say this here thats not a huge surprise. In both cases, I used data analysis software to examine trends and patterns that could inform our recommendations.. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. How this process will start depends on whether the case interview is candidate-led or interviewer-led. Interviewing with NERA Economic Consulting? 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. It also helps them determine if you are likely to be challenged by the work they do at NERA. NERA Economic Consulting Analyst Interview Questions NERA Economic Consulting Corporate Web Specialist Salaries in Newquay 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. why NERA? 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. NERAs interview process is very different to the process at the MBB firms after all, the focus is less on your ability to solve problems and more on your ability to manipulate data. Average salary for NERA Economic Consulting Research Officer in Braunton: 46,245. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. I interviewed at NERA Economic Consulting. The approach to solving economic consulting cases is generally the same as traditional case interviews. Register here: Join Dr. Andrew Stivers on 8 Feb for a webinar exploring how the FTC undertakes the cost-benefit analysis for proposed rules and learn practical tips for drafting rulemaking comments. Brown Consulting Club Well, NERA is no MBB. A pet shop retailer wants to open a new 400m2 shop. NERA has developed quite a reputation, but has managed to keep itself small, clearly focused and prestigious in the process. Opens the Fishbowl by Glassdoor site in a new window. For me it was because I used a cool dataset for my research. We conducted an economic forecast to determine if there would be enough demand for their products at this location. Be transparent, show genuine interest in the interviewer, be uniquely yourself (but not weird), and most importantly, dont let the laid back atmosphere be an excuse to let your guard down too much. Interview Type: Behavioral and Fit Interviews. Can you use logic and reason to make appropriate conclusions? In this first round interview all of the questions were behavioral. Prepare for 40 min, presentation, and QA Example: I would say my biggest weakness as an analyst is not being able to see the big picture when Im focused on a project. I interviewed at NERA Economic Consulting Interview Online test followed by one 3h interview, which involved - 30 minutes of HR interview - 2 case studies with junior & mid level consultants - case study with managing director Interview. Example: I am most interested in economic theory, particularly supply-side economics. 5. Thanks in advance. This study by NERA Economics Consulting compares the carbon dividends plan to a set of regulatory policies designed to achieve the same emissions reductions. Focus on understanding the context of the situation and the objective of the case. Best Economic Consulting Firms - Firsthand You bring your talent, energy, and dedication. If the case interview is interviewer-led, the interviewer will tell you what area of the framework to start in or directly give you a question to answer. A client has a budget of xx, what would you do with it? or Want to Sign up with your social account? Case Type: pricing & valuation. If youre looking to become an economic consultant, youll need to ace your economic consulting case interviews. Industry Coverage: mining & metals production. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. However, one that tripped me up was describing how I delegate tasks in a leadership position. About the Company. They post available internships during the winter months on Marsh & McLennans recruiting. All online. For example, when President Trump signed his tax reform bill into law last year, he was able to increase GDP by 0.7% over the next two years. This question can help the interviewer get a sense of your knowledge and how you learn. I interviewed at NERA Economic Consulting in Jan 2023. The whole process takes about a month and a half. NERA Economic Consulting. For example, you may be asked to calculate a certain profitability or financial metric. The deadline was tight, but I knew I could do it if I worked hard enough. The higher the number, the more difficult the interviews on average. Industry Coverage: None, Case Interview Question #01024: A very long rope is tied around the equator of the Earth drawing a circle centered at the center of the Earth. MBAs or other experienced hires are usually brought on as, Consultant Senior Consultant Vice President Senior Vice President. This question can help the interviewer get a sense of your economic knowledge and how you view current events. Although NERA is concentrated on the East Coast of the U.S., NERA reviews the global economic landscape. The brain teaser was pretty hard. This question is an opportunity to show your passion for economics and how you can make a difference. An example of how you overcame a problem, dealing with messy data, etc. 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. 3. Two were with Directors and were case studies about stock price changes. The final round was five back-to-back interviews at their New York office. 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. Next Thursday, NERA Senior Consultant Janeen McIntosh and ISS SCAS Executive Director Jeff Lubitz will co-host a virtual discussion, A Look Back at 2022 and Whats Ahead in 2023, covering notable securities class action trends from 2022. I interviewed at NERA Economic Consulting. 10. what projects I have involved in? Free interview details posted anonymously by NERA Economic Consulting interview candidates. Continue Reading 207. 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. What type of analysis skills do you possess? I did an in-person first interview at the school, then a final round on-site. Youll be placed in a hypothetical business situation and will have 20- to 30-minutes to work with the interviewer to come up with an answer to a broad business problem that relates to economics or law. How are economic forecasts used in business decisions? The 6 Steps to Solve Any Economic Consulting Case Interview, Economic Consulting Case Interview Examples, Resources to Prepare for Economic Consulting Cases, Determining the exact extent of revenue losses caused by a competitors intellectual property theft of a clients proprietary technology, Preparing a testimony on behalf of a client to fight litigation against shareholders who are suing the company for neglecting their fiduciary responsibility to keep shareholders appraised of significant changes in business, Determining how a client should respond to expected political instability in the future. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. I was a lateral hire. Cookies Notice | Twenty minute HR interview followed by hour with two current employees on economic principles and a case study split into two parts. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. By 1971, 10 years after its founding, NERA had more than 60 staff and in 1974 the company opened their first West Coast office in LA. Be the first to find this interview helpful. https://t.co/6uK69f6bp0. I was then invited to a final round at the firm, and I spoke to 5-6 individuals including a lunch. Examples of potential business questions you could get asked in an economic consulting case interview include: Economic consulting firms heavily rely on case interviews in their interview process because they can assess a variety of different qualities and traits in just a 20- to 30-minute exercise. A client has a budget of xx, what would you do with it? This button displays the currently selected search type. Generally, youll want to follow these six steps. If you dont have direct experience, you can explain how your research skills helped you complete a project in the past. Give an example of when you had to perform under pressure and meet a deadline. 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. If a NERA consultant isnt thinking about leaving consulting, but wants a different focus, there are also opportunities for consultants to transition inside the Marsh & McLennan organization to management consulting at. I applied from my economics department career website. Wirtschaftsberatung sucht Trainees (m/w/d) Wirtschaftsberater Horvth sucht Consultant (w/m/d) Insurance. AmbitionBox. NERA does most of its (U.S. and Europe) recruiting out of these schools some of them do not match up with core MBB schools (note George Washington University and not Georgetown, for example): If you dont go to one of these target schools, but youre a master in economics (GPA of 3.7+, departmental awards, etc. why economic consulting? Case Interview Question #01154: Our client, Mr. Energy Consulting. In fact, if you look at a list of top 20 consulting firms, NERA wont be on it. Very focused on fit. NERA Economic Consulting Consultant Securities Interview Questions WISU - die Zeitschrift fr Wirtschaftsstudenten. One of the questions dealt with a particular advertisement about certain hospitals/doctors that discouraged patients from visiting them, which turned out to be false. M&M companies are traditionally excellent pioneers of diversity and inclusion culture check out the below under Interviews & Recruiting. Analysis Group Here are a number of groups you could participate in while working at NERA Economic Consulting. The only information I had to go off of was what the department head told me about their current spending habits.