Example: Microeconomics focuses on individual markets or industries. Be the first to find this interview helpful. 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 . Well, NERA is no MBB. How did you approach the situation? 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. Overall experience. The process took 4 weeks. That means: motivation, clearly defined research question, methodology, problems and solutions, results. A maths problem based around the concept of game theory. 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. As NERA grew, however, the industries they worked with started to include major utility and telecommunications companies like AT&T. BCG Platinion The case interview for economic consulting is similar to that for management consulting . 5. The brain teaser was pretty hard. 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. Economic consulting case interviews will also typically have qualitative aspects to them. This question can help the interviewer get a sense of your personality and how you might fit in with their team. Example: I learned recently that there is a new way to measure inflation called chained CPI. Thanks in advance Interview. A week after I applied online, I received an invitation for a phone interview. A framework is a tool that helps you structure and break down complex problems into smaller, more manageable components. This question is an opportunity to show your passion for the field of economics. Based on 776 salaries posted anonymously by NERA Economic Consulting Corporate Web Specialist employees in Seaham. Example: At my previous job, I was tasked with creating a financial model for a client who needed the information as soon as possible. https://t.co/6uK69f6bp0. 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 reviews). If you found this article helpful, youll love our comprehensive case interview course. The first interview was a 30 min one-on-one interview with one of their analyst. Preferred locations; Seattle, Cali, DC, Toronto. They were nice and encouraged questions. Example: My previous manager would say that my greatest strength is my ability to remain calm under pressure. Economic consulting case interviews primarily assess five qualities: Logical, structured thinking: Can you structure complex problems in a clear, simple way? And they all knew my name, which was pleasantly surprising. Analysis Group The behavioral interviews will focus on your past experiences and why you are interested in working at NERA. 205. Fit & Behavioral Interview Answer Guides and Tutorials, Leave your comment here. Interviewing with NERA Economic Consulting? You may be asked to brainstorm a list of potential ideas. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. I interviewed at NERA Economic Consulting (New York, NY). NERA highlights 5 core values on their website. The second interview was superday style with 4 back to back interviews. Does this vary by practice area? Personality and cultural fit: Are you coachable and easy to work with? They are saying, however, that they remain on top of cutting-edge forms of economic analysis and bring a 360-degree look at any problem or issue. Not answering the right business question is the quickest way to fail a case interview. Dont be afraid to ask clarifying questions if you do not understand something. They want to know that you can perform well in a fast-paced environment, so its important to give an example of a time when you had to complete a project or task quickly. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. 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. I had 6 back to back 30-minute behavioral interviews with folks from the Antitrust & Competition and IP practices, probably explained my data project 4-5 times. This question can help the interviewer understand how you handle conflict and disagreements in the workplace. I had to explain how I would have ran the regression in my program of choice. Its important to be honest, but also highlight some of your best qualities that will make you an asset to the organization. This interview was based mostly of behavioral and technical questions. Ms. Orlandi specializes in matters related to power, capacity, and renewable energy markets and auctions. Economic consulting covers a more specific range of consulting than management consulting, dealing mostly with government organizations and cooperations to help solve problems and disputes that fall under the umbrellas of economics, business, and law. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. Focus on understanding the context of the situation and the objective of the case. What is the difference between macroeconomics and microeconomics? 3. what projects I have involved in? One of them was resume based, and others tested on how fast the candidate could respond to real-world economic problems. Senior Consultants Janeen McIntosh, Svetlana Starykh, and Edward Flores outline notable securities trends for 2022 in the annual report. Example: I am most interested in economic theory, particularly supply-side economics. I interviewed at NERA Economic Consulting (Washington, DC) in Oct 2017. Number of Questions: 207. Easy. Or, solve 6 sample cases for free! Consulting Firm: NERA Economic Consulting first round full time job interview. Mostly behavioral questions with a few technical questions, a lot of the interviewers asked the same questions about my background and research experience. Prepare for 40 min, presentation, and QA It felt rather informal and laid-back. Industry Coverage: engineering, construction; government, public sector. How would you determine econometrically if a firm is inefficient? My ability to analyze complex data has helped me discover new insights that have led to more effective solutions for clients.. Cookies Notice | Average salary for NERA Economic Consulting Corporate Web Specialist in Newquay: 56,119. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators . I had to walk through a pretend case in econometrics, which culminated in regression testing. 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. Excellent. The key to solving quantitative problems is to lay out a structure or approach upfront with the interviewer before doing any math calculations. The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. 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. Marsh & McLennan Companies, which also now owns big brand, 2 Rounds of Edits each on 1 Resume and 1 Cover Letter, All access pass: 550+ cases, 10K+ math/structure drills, 9 video courses, 12 chatbot cases, Marsh & McLennan Companies Asia-Pacific Womens Group, Marsh LGBT (Lesbians, Gays, Bisexual and Transgender), Marsh WEBB (Womens Executive Business to Business), Women Making a Difference (Marsh and Mercer women in Pittsburgh). Your answer should include something that you would like to change about the field of economics, as well as what you think could be done to improve it. Interview. Any insight much appreciated. Human Resources Consulting. They then go in depth in asking you to explain past research you have done. Be prepared to explain your research/analysis in-depth and a number of times. Associate Directors Dr. Bruno Soria and Adrien Cervera-Jackson analyzed the impact of subscription video-on-demand (SVOD) on European audiovisual markets. Case Type: business turnaround; math problem. Along the way, youll answer a mix of quantitative and qualitative questions to help you build support for a final recommendation that youll present at the end of the case. Are there anything that you hate in your previous job/company? 198. The technical interviews will focus on your economic knowledge and research skills. super day, on site, five one-on-one interviews. Interviewers want to know that youre aware of your weaknesses and are actively working on them. If youre interviewing with NERA Economic Consulting, youre in luck. In fact, if you look at a list of top 20 consulting firms, NERA wont be on it. The firm applies econometric and statistical analysis to provide strategy, studies, reports, expert testimony, and policy recommendations for . Congratulations to Katie Orlandi for her promotion to Director. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. Two rounds of interviews with a mix of junior/senior level staff. WWL published its annual guide to spotlight expert witnesses and future leaders in resolving complex international disputes. Case Type: pricing & valuation. How would you analyze allegations of discriminatory lending practices? 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. how do you recommend apportioning the gold in such a way that you get a good share of the booty, but still survive? 2. 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. It had various complications, such as the region, types of doctors/patients, timeframe of the ads, and etc. In the last step of the economic consulting case interview,youll present your recommendation and provide the major reasons that support it. Interview Type: Behavioral and Fit Interviews. I got to their office at 9 and there were 2 other candidates there. Overall, the interview process is relatively long and can take up to two months to complete. The company asked for resume, transcript, writing sample, and recommendation. I interviewed at NERA Economic Consulting in Jan 2023. Mr. Kuramoto has over 25 years of experience assisting Japanese multinationals with transfer pricing strategy, documentation, APAs, and disputes. I chose that major because I was interested in learning more about business and finance, but I also wanted to study something that would be applicable to my future career. Candidates applying for Intern had the quickest hiring process (on average 15 days), whereas Research Associate roles had the slowest hiring process (on average 27 days). first round: phone interview. This button displays the currently selected search type. Read more: NERA Economic Consulting is pleased to sponsor the Womens White Collar Defense Association. 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). Finally, I would arrive early to the meeting room where the presentation is taking place so I can set up my equipment and get settled.. There are some areas where we could improve, such as increasing wages for middle-class workers and decreasing income inequality. Economic consulting is used less for strategy, and more for litigation or regulatory compliance issues. 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. Okay, innovation here isnt quite what Silicon Valley would call innovation its not actually anything new. The process took 2 weeks. 10. Industry Coverage: mass media & communications; sports, leisure & recreation. The company has earned recognition for undertaking large, complex projects, fostering innovation, embracing emerging technologies, and making a Read the rest. Example: I graduated from Boston University with a bachelors degree in economics. Example: Im passionate about working with clients because I love helping them find solutions to complex problems. Industry Coverage: mining & metals production. Your commitment to these values is evident in your hiring practices, employee resource groups and training programs.. The other two were behavioral and with younger staff/analysts. NERA Economic Consulting benefits and perks, including insurance benefits, retirement benefits, and vacation policy. Describe one of your research experiences using Excel or Stata. Does this vary by practice area? You could also be asked to provide your opinion on a particular business issue or situation. 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. Aktuelle Stellenanzeigen und Praktika. NERA Economic Consulting sucht Werkstudent Competition Economics (m/w/d) A.S.I. Just MAKE SURE you network at such a small firm, a blind resume drop means nothing and an employee recommendation means everything. The phone interview was about 30 minutes. The detailed ranking includes interview outcomes, length of process, interview details, and overall company . We are excited to announce the promotions of Dr. Stefan Berger, Lorenz Wieshammer, and Tilling Lee to Associate Director. 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%. Then we all went to lunch from noon-1 with 2 other employees. Have some insider perspective that youd like to share? 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. I received an invitation to do a HIreVue online interview within 2 weeks of applying for a winter internship. Give an example of when you had to perform under pressure and meet a deadline. 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. The second round was an interview with a Managing Director. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. The most important part of this step is to verify the objective of the case. 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. The first round consisted of two 30 min back to back interviews with Consultant and Senior Analyst. What is something that you learned recently about economics or finance? Energy Consulting. Example: Economic forecasts are a valuable resource for businesses because they provide insight into future trends that may impact their operations. 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. I applied from my economics department career website. Do you have experience conducting research? They rescheduled for me. Interviewed for one hour. Looking for case interview practice partners? Case Type: pricing & valuation. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. Weve included each here with a point of commentary on each one below. As with most consulting firms, the expectation for the summer internship is that you will get an offer therefore, they get to test-drive prospective hires before making a long-term commitment, and for the 80% that are top performers, NERAlocks in top recruits before peak senior recruiting season. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. This method takes into account that when prices for certain goods increase, people will substitute those goods with cheaper alternatives. Dr. Taylor specializes in competition and regulatory economics and has deep expertise in energy and telecommunications. Also, check glassdoor because it helped me a lot. If you have strong math skills, this can be an opportunity to show off your abilities. 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. Macroeconomics looks at the economy as a whole. Interview Type: Behavioral and Fit Interviews. Analysis Group 25 Warehouse Receiver Interview Questions and Answers, 25 Family Advocate Interview Questions and Answers, 25 Fedex Driver Interview Questions and Answers, 25 Appointment Setter Interview Questions and Answers. It was impressive to see all the support from the professional staff (HR, IT, front desk) who worked to make this all-day event run smoothly (scheduling, video conferencing, office transitions). AmbitionBox Interview Questions. I got a phone call with an offer 2 days later with a 2 weeks deadline to answer. Do your recommendations make sense from a feasibility perspective? Simple self introduction, technical questions about softwares and a case study. The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Graduating with Econ masters from Yale next May ~ roughly 2 years work experience in research & data analysis at a Big 4. Asked about previous research experience and especially quantitative experience. Originally published December 15, 2020. This is a common Marsh & McClennan portfolio firm trait one definitely shared by Lippincott and Oliver Wyman. 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. It was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters. In Europe, Australia, and New Zealand, the career path in terms of responsibilities is pretty similar although they decided to switch up the names and number of positions to be more culturally relevant reflecting that an MBA is non-mandatory and direct promotion is a standard although the titles are also more confusing due to the lack of a global standard (which would never happen at McKinsey or BCG): Research Officer Analyst Consultant Senior Consultant Associate Director Director, NERA Economic Consulting offers a limited number of 10-week summer internships to undergrads who are currently working on their BA/BS. See the diagram below for a clear structure of how the Marsh and McLennan Companies are organized. Above all else, they are seeking a competent and SAFE professional so be sure to carry yourself as one. Then, I would practice my presentation at least twice before presenting it to ensure I am comfortable with the content and delivery. A client has a budget of xx, what would you do with it? The hiring process at NERA Economic Consulting takes an average of 26 days when considering 184 user submitted interviews across all job titles. Charles River Associates 203.
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. I interviewed at NERA Economic Consulting. As for cases, ~50% of candidates last year did not having any case questions come up in the interview at all. Q: Tell me about yourself. Example: I would first make sure I have all my materials ready, including any visuals or slides I may need. Generally, youll want to follow these six steps. I think they answered truthfully or to the best of their knowledge. This is because lowering taxes incentivizes businesses to invest more money back into their companies, which leads to increased productivity.. I think I was fortunate to come across really cool economists. 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). That being said, NERA is still a major player in the consulting industry and heres why: NERA Economic Consulting is one of the top, Lets just quickly discuss the difference between a top management consulting firm and an economic consulting firm. I would rate my math skills at a 9 out of 10.. The current method of measuring GDP does not take into account many important factors, such as environmental sustainability or social equality. Tell me about yourself. Economic consulting cases typically have some quantitative aspect to them. What would you say is your biggest weakness as an analyst? NERA Economic Consulting They usually want to see that you have relevant coursework and experience in areas like economics, stats, accounting, and finance. Went through my college, applied and got an online interview. NERA is a wholly-owned subsidiary of Marsh & McLennan Companies. 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. Regulatory Cases: These cases include topics such as auctions and regulatory economics. We have compiled all of the economic consulting practice cases and examples that we could find below: We recommend working through the Bates White practice case before your upcoming economic consulting case interview. 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. They are available in digital or paperback format on Amazon. It also helps them determine if you are likely to be challenged by the work they do at NERA. After several email communications, HR arranged an interview with a senior partner at New York. This question is an opportunity to show your enthusiasm for the role and the company. Finance Cases: These cases include topics such as bankruptcy, consumer protection in financial services, financial institutions and banking, and financial risk management. 116 NERA Economic Consulting Research Associate interview questions and 105 interview reviews. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. Tie this one to the prior core value NERA is focused on having the most comprehensive base of economic expertise in the industry. Free interview details posted anonymously by NERA Economic Consulting interview candidates. Example: Ive worked on several research projects throughout my career, including one where I analyzed the economic impact of a new highway construction project and another where I researched the effects of tax reform on small businesses. 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. Case Interview Question #01154: Our client, Mr. Infos und Tipps zu MBA-Studium, Berufseinstieg und Karriere. I interviewed at NERA Economic Consulting (London, England) in Mar 2017, Maths and economics test, micro economics and econometrics 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. Industry Coverage: None Number of Questions: 207. Why economic consulting? I applied through college or university. You can look at the other case interview examples to practice thinking about how you would structure an approach to solve those cases. BCG Platinion Why you? Analyst/Senior Analyst/RAs at NERA Economic Consulting - what is your base + bonus ranges generally? Read more: We are excited to announce Dr. Soren Tang Sorensen has been promoted to Director. The second round was an interview with a Managing Director. Case Interview Question #01156: Your client Gold Mining USA Inc. (GMUI) is a large gold mining company based in Greenwood Village, Colorado, United States. 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. Economic consultants provide a third-party perspective on issues such as antitrust concerns (standard and M&A related), anti-competitive action, etc. No case studies. The only information I had to go off of was what the department head told me about their current spending habits. The process had two rounds, one one-on-one, then a super day with behavioral and technical questions and a case. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. Here are a number of groups you could participate in while working at NERA Economic Consulting. 204. On average, Steven Failla works for one company for 2 years 2 months. NERA Economic Consulting is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. NERA Economic Consulting NERA's economists create reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. Terms of Use | The deadline was tight, but I knew I could do it if I worked hard enough. It studies things like inflation rates, unemployment levels and gross domestic product.. They may ask a few questions or provide some feedback. HR asked some motivational questions, such as why applying for NERA, and why specific practice. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Note that these groups are inclusive to employees of Marsh & McLennan: Are there more topics youre interested in hearing about in our firm profiles? How are economic forecasts used in business decisions? why NERA? Why this particular position? This study by NERA Economics Consulting compares the carbon dividends plan to a set of regulatory policies designed to achieve the same emissions reductions. Defense Consulting. 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. NERA Economic Consulting is a leading economic consultancy with more than 25 offices around the world. It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. For example, it might study how consumers make purchasing decisions in one industry. A case on what is the size of the domestic market for cell phones. Economic Consulting. 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. This question can help the interviewer determine if you have experience with similar projects to those they may assign you at NERA. 101 Great Answers To The Toughest Interview Questions, 201 Best Questions To Ask On Your Interview, 201 Knockout Answers To Tough Interview Questions, High Impact Interview Questions: 701 Behavior Based Questions, How To Succeed At Interviews: Over 200 Interview Questions, Nail The Job Interview: 101 Dynamite Answers To Interview Questions, How To Answer The 64 Toughest Interview Questions, Fit & Behavioral Interview Skills That Win The Job. - 08 December 2021. Industry Coverage: None An early boom in the market for awful music allowed him to amass a substantial war chest and offer products (all music Read the rest, Case Type: math problem, brain teaser. However, if you have many years of work experience and are interviewing for a more senior role, theres more of an expectation that you have expertise in some of these topics.