Please Log in or Register now.Subscriptionsstart at only $7/month. 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 I interviewed at NERA Economic Consulting in Nov 2011. first round on campus interview, talk about research experience. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. As you can see, compared to traditional case interviews, economic consulting cases may require more specialized knowledge of economics, finance, or law. 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. The interview consisted of some general questions and a brain teaser. 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. 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. Turner Construction Evaluates Interstate Highway Project. 2. They want to know if you have any experience working with clients like theirs, or if youre familiar with their companys industry. They have a wide variety of practice areas including Antitrust and Competition, and Energy, Environment, Communications and Infrastructure. In fact, I find that breaking down a large dataset into smaller chunks makes it easier for me to analyze and understand the information.. Consulting Firm: NERA Economic Consulting first round full time job interview. Example: I would first make sure I have all my materials ready, including any visuals or slides I may need. Can you give me an example of a time when you disagreed with a team members conclusion, how did you handle it? how much should they spend on advertising? Regulatory Cases: These cases include topics such as auctions and regulatory economics. 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. Consulting Firm: NERA Economic Consulting first round full time job interview. To combat this, Ive started taking short breaks throughout the day to reflect on the bigger picture.. One first round phone interview followed by a super day. If you found this article helpful, youll love our comprehensive case interview course. Research Associate at NERA Economic Consulting Washington, District of Columbia, United States. Why do you want to work at NERA Economic Consulting? Example: Microeconomics focuses on individual markets or industries. I think they answered truthfully or to the best of their knowledge. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. You should be able to solve your economic cases without having to rely on outside knowledge. The firm applies econometric and statistical analysis to provide strategy, studies, reports, expert testimony, and policy recommendations for . 199. Free interview details posted anonymously by Charles River Associates interview candidates. Explain to me an economic concept that you find most interesting. Average salary for NERA Economic Consulting Corporate Web Specialist in Newquay: 56,119. 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 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. This question can help the interviewer get a sense of your economic knowledge and how you view current events. Because there is minimal client exposure at junior levels for NERA, you can expect again a more relaxed workplace. Here are a number of groups you could participate in while working at NERA Economic Consulting. What are your thoughts on the current state of the economy? Interview Questions. 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. NERA Economic Consulting is a leading economic consultancy with more than 25 offices around the world. 5. Please. 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. This question is a common one in interviews, and its important to be honest. NERAs first clients were in the natural gas industry. The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Are you pleasant to be around? Then, I would practice my presentation at least twice before presenting it to ensure I am comfortable with the content and delivery. One competency based interview and one economics one that covered mainly basic economic intuition on topics like natural monopolies. While MBBs main focus is strategy, economic consulting firms like NERAs focus is on, Of course, that is a very broad generalization because, as well talk about soon, NERA has. Free interview details posted anonymously by NERA Economic Consulting interview candidates. A week after the phone interview, I was invited for an on-site interview. That means: motivation, clearly defined research question, methodology, problems and solutions, results. Your answer should show that you understand the importance of presentations and how to prepare for them. Bain & Company Why should we not hire you? Example: I graduated from Boston University with a bachelors degree in economics. NERA has established quite a global presence with 26+ offices in North America, Europe, and Asia Pacific. Human Resources Consulting. Thanks in advance. 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%. 4. Talked with two analysts and 3 senior-level employees. Phone interview consisted of behavioral and fit questions, such as questions about research experience and interests. See the diagram below for a clear structure of how the Marsh and McLennan Companies are organized. Preferred locations; Seattle, Cali, DC, Toronto. Both interviews were online (on zoom) with two consultants. 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. 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. For me it was because I used a cool dataset for my research. Economic consultants provide a third-party perspective on issues such as antitrust concerns (standard and M&A related), anti-competitive action, etc. I interviewed at NERA Economic Consulting. Overall, the interview process is relatively long and can take up to two months to complete. Case Type: business turnaround; math problem. . 2. I applied through college or university. 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) >. Gold mining is the resource extraction of gold by mining. Microeconomics materials should be reviewed for the preparation. Aktuelle Stellenanzeigen und Praktika. Economic consulting is mostly a type of paralegal work. The key reason? Two were with Directors and were case studies about stock price changes. You bring your talent, energy, and dedication. I got a phone call with an offer 2 days later with a 2 weeks deadline to answer. Example: In my last role as a financial analyst for a large corporation, I was tasked with creating a budget for the companys marketing department. Simple self introduction, technical questions about softwares and a case study. When answering this question, try to think of something that youve been trying to improve or work on recently. The process took 2+ months. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. 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. 8 NERA Economic Consulting Internship interview questions and 9 interview reviews. I interviewed at NERA Economic Consulting (London, England) in Mar 2017, Maths and economics test, micro economics and econometrics 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. Average salary for NERA Economic Consulting Corporate Web Specialist in Seaham: 56,119. Analysis Group A NERA Economic Consulting Research Associate typically has a wide range of responsibilities, which can include: Assist in the development of economic models and analysis for litigation, regulatory, and corporate finance matters. 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. Describe independent research project that you have worked on, Case studies about regulation of natural monopolies and electricity market design. This question can help the interviewer get a sense of your knowledge and how you learn. Discover Best Places to work in India. 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). 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. If you are not as confident in your math skills, its important to highlight other strengths that may make up for any weaknesses. if fewer than half of the pirates agree with you, you die. In other places such as Cornerstone. Q: Talk to me about your past research. Use examples from previous work or school experiences where you had to research information, analyze data or make decisions with limited resources. I interviewed at NERA Economic Consulting in Jan 2023. McKinsey & Company It was important for me to know my resume inside and out. I applied through college or university. NERA is by all means a boutique consulting firm with a focus on litigation and compliance, and unlike MBB firms where ex-consultants usually move on to CEO, COO, and other leading positions in Fortune 100 companies, NERA consultants develop a much more narrow skill set more suited for internal corporate analysis, financial advisory work or legal jobs. NERA Economic Consulting is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. 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.. How would you analyze allegations of discriminatory lending practices? why economic consulting? However, most positions will require at least one behavioral interview and one technical interview. The carbon dividends model generates an extra $190 billion in economic output, on average, per year compared to the . I was a lateral hire. Mostly behavioral questions with a few technical questions, a lot of the interviewers asked the same questions about my background and research experience. Interview. partner interview, Anonymous Interview Candidate in New York, NY, I applied through college or university. Hi folks, I'm looking for an entry level referral from Analysis Group or NERA Economic Consulting. If economics isn't your strong suit, National Economic Research Associates (known as NERA Economic Consulting) can help. The deadline was tight, but I knew I could do it if I worked hard enough. 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 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. NERA Economics Impact Report. Why economic consulting? Lets just quickly discuss the difference between a top management consulting firm and an economic consulting firm. Interview process length. The other two were behavioral and with younger staff/analysts. KPMG. The behavioral interviews will focus on your past experiences and why you are interested in working at NERA. The questions were mostly behavioral (no case study) and on my experience doing research. Excellent. Each firm supports and offers experts to testify in litigation matters related to economics and finance. Prepare for 40 min, presentation, and QA One of them was resume based, and others tested on how fast the candidate could respond to real-world economic problems. Of course, that is a very broad generalization because, as well talk about soon, NERA has 30+ practice areas ranging from bankruptcy to statistical sampling and analysis. Est Annual Revenue: $25bn+ Website. It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. Describe a time where you were given a task with limited information. A pet shop retailer wants to open a new 400m2 shop. 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. Difficult. The interviewer asked me to introduce myself and then asked about my research paper. What analysis, what program skills you know. About the Company. 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. 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. Prepare for 40 min, presentation, and QA partner interview. They post available internships during the winter months on Marsh & McLennans recruiting. Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. 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. Example: My previous manager would say that my greatest strength is my ability to remain calm under pressure. If youre looking to become an economic consultant, youll need to ace your economic consulting case interviews. Example: I learned recently that there is a new way to measure inflation called chained CPI. or Want to Sign up with your social account? Hi dear fishes, I'm looking for referrals for analyst/associate/econ consultant roles for June 2023 start. On average, Steven Failla works for one company for 2 years 2 months. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. Interviewed for one hour. Generally, youll want to follow these six steps. I applied online. 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). I was a lateral hire. Its important to be honest, but also highlight some of your best qualities that will make you an asset to the organization. However, one that tripped me up was describing how I delegate tasks in a leadership position. And when youre interviewing with a specific company, its important to do your research and be prepared to answer questions about the company itself. 8 NERA Economic Consulting Analyst interview questions and 8 interview reviews. Steven Failla has been working as a Software Engineer for NERA Economic Consulting for 306 days. New York, NY. I had to walk through a pretend case in econometrics, which culminated in regression testing. What is one thing that you think needs to change in the field of economics? what projects I have involved in? If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. For example, it might study how consumers make purchasing decisions in one industry. 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. Economic consulting case interviews primarily assess five qualities: Logical, structured thinking: Can you structure complex problems in a clear, simple way? NERA Economic Consulting Half an hour of an HR interview and two case studies. 3. 205. Don't ask about paid leave and travel at the interview.. 6. Review your intermediate microeconomics and statistics . The process had two rounds, one one-on-one, then a super day with behavioral and technical questions and a case. Communication skills: Can you communicate in a clear, concise way? Senior Consultant Dr. Ildiko Magyaris thesis, Firm Reorganization, Chinese Imports, and US Manufacturing Employment has been cited in a report published by the Joint Economic Committee of the US Senate. Example: Im motivated by helping others succeed. Director Daniel Hanson, Consultants Dr. Francis Ostermeijer and Dr. Tuba Toru Delibasi, and Economic Analyst Khalil Sabourian evaluated the impact of infection resiliency interventions on buildings in the UK for the Royal Academy of Engineering. All Rights Reserved. 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. They might know your approach was right, but they want to make sure you can explain why (kind of like a stress test). The 6 Steps to Solve Any Economic Consulting Case Interview . Industry Coverage: mass media & communications; sports, leisure & recreation. It felt rather informal and laid-back. 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. Based on 776 salaries posted anonymously by NERA Economic Consulting Associate Analyst employees in Godalming. Business acumen: Do you have a basic understanding of fundamental business and economics concepts? Are you able to handle large amounts of data and interpret it effectively? I was then invited to a final round at the firm, and I spoke to 5-6 individuals including a lunch. Focus on understanding the context of the situation and the objective of the case. 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. Its monotonous. Q: Tell me about yourself. As NERA grew, however, the industries they worked with started to include major utility and telecommunications companies like AT&T. Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire dataset. Finance Cases: These cases include topics such as bankruptcy, consumer protection in financial services, financial institutions and banking, and financial risk management. Analyst/Senior Analyst/RAs at NERA Economic Consulting - what is your base + bonus ranges generally? Thanks in advance 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. 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. Know about salary and benefits expectations before the interview . Glassdoor users rated their interview experience at NERA Economic Consulting as 69.0% positive with a difficulty rating score of 2.96 out of 5 (where 5 is the highest level of difficulty). My ability to analyze complex data has helped me discover new insights that have led to more effective solutions for clients.. Tie this one to the prior core value NERA is focused on having the most comprehensive base of economic expertise in the industry. Congratulations to Katie Orlandi for her promotion to Director. first round: phone interview. Your economic consulting case interviews will give you a taste of what it would be like to be an economic consultant. NERA's economists create reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. Based on 1 salaries posted anonymously by NERA Economic Consulting Corporate Web Specialist employees in Newquay, England. Originally published December 15, 2020. What type of analysis skills do you possess? how do you evaluate the legal environment in a state and its influence on business development, Get started with your Free Employer Profile, Research Officer - Energy, Environment, Communication and Infrastructure (1), Research Associate for Antitrust Practice (1), The Ultimate Job Interview Preparation Guide. Its important to be honest in your answer, but try not to make it too political or controversial. Graduating with Econ masters from Yale next May ~ roughly 2 years work experience in research & data analysis at a Big 4. They usually want to see that you have relevant coursework and experience in areas like economics, stats, accounting, and finance. The HR and the case study consultants were all nice and friendly. 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. Tell me about yourself. The whole process is not really intimidating but the feedback is quite slow. Why NERA? He specializes in directing and presenting financial and economic analyses in internal investigations, government and regulatory enforcement actions, class actions, and M&A litigation. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. Why this particular position? However, I am confident in my ability to work with larger datasets if needed. NERA is a wholly-owned subsidiary of Marsh & McLennan Companies. Maths and economics test, micro economics and econometrics case study interview, a case about UK electricity industry, use economics theory to explain. Which area of economics are you most interested in and why? Terms of Use | Example: I am highly organized, which allows me to complete my projects on time. A case on what is the size of the domestic market for cell phones. A framework is a tool that helps you structure and break down complex problems into smaller, more manageable components. I think I was fortunate to come across really cool economists. This question can help interviewers understand your knowledge of how economic forecasts are used in business decisions. Opens the Fishbowl by Glassdoor site in a new window. 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. And lets just say this here thats not a huge surprise. 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. Why dont you tell me a bit about your career path and some of the decisions you made about what direction to take? Kid Country, is the purveyor of an increasingly unpopular form of hybrid rap/rock/country music. 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. A week after I applied online, I received an invitation for a phone interview. Industry Coverage: mining & metals production. They had a set of graphs that you would typically see in a statistics course or an econometrics course, like a QQ-plot, etc. Also, check glassdoor because it helped me a lot. Once you have finished presenting your framework, youll start diving into different areas of your framework to begin solving the case. Interview Type: Behavioral and Fit Interviews. Interview process at NERA Economic Consulting. I applied online. I interviewed at NERA Economic Consulting in Jan 2023. Then we all went to lunch from noon-1 with 2 other employees. Hi dear fishes, I'm looking for referrals for analyst/associate/econ consultant roles for June 2023 start. Please calculate: 46 + 54 = ? really drilled deep into stats concepts and research topics. They are looking for candidates with a strong quantitative background. The firm initially consisted of 17 employees and the 2 founders. Not invited for the second round Of interview. 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). No case studies. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. The case studies were the most difficult questions asked. I applied through college or university. The phone interview featured relatively straightforward questions and none that I found too tricky. Industry Coverage: mass media & communications; sports, leisure & recreation. If youre interviewing with NERA Economic Consulting, youre in luck. Very unprofessional. You had some unusually varied work experience before you went to business school. 9. Key summary if you work at NERA, you might not love every second of every day, but over time youll accrue valuable data analysis skills that will enable you to transfer into industry but in a lower-level position, with a weaker strategic toolkit than you would at MBB. This question can help the interviewer understand how you approach challenges and use your critical thinking skills to solve problems. Do your recommendations make sense from a feasibility perspective? I got to their office at 9 and there were 2 other candidates there. Are you articulate in what you are saying? Interview. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Looking for case interview practice partners? The second round was an interview with a Managing Director. Half an hour of an HR interview and two case studies. They then go in depth in asking you to explain past research you have done. Director Dr. Vladimir Starkov offers tips on how businesses that rely on provisions of Puerto Rico Act 60 can prepare documents of related-party transactions to avoid IRS penalties for misstating export services income. Nothing was particularly difficult. In my last role, I worked with a client who was having trouble finding qualified employees for their factory. The higher the number, the more difficult the interviews on average. 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. The HR and the case study consultants were all nice and friendly. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. Based on 776 salaries posted anonymously by NERA Economic Consulting Corporate Web Specialist employees in Seaham. The second round was an interview with a Managing Director. The key to answering qualitative questions is to structure your answer. So whether youre interviewing for an entry-level position or a management role, read on for some insight into the types of questions you can expect, and how to answer them. They rescheduled for me. 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. 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.