3. In your answer, define macroeconomics and microeconomics and explain how they differ from each other. Twenty minute HR interview followed by hour with two current employees on economic principles and a case study split into two parts. Once you have finished presenting your framework, youll start diving into different areas of your framework to begin solving the case. Consulting. really drilled deep into stats concepts and research topics. Use examples from previous work or school experiences where you had to research information, analyze data or make decisions with limited resources. The brain teaser was pretty hard. 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. 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. spread-sheet, case study, behavior questions. What is an Economic Consulting Case Interview? super day, on site, five one-on-one interviews. Aktuelle Stellenanzeigen und Praktika. It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. 2. The firm initially consisted of 17 employees and the 2 founders. It is also good practice to include potential next steps that you would take if you had more time or data. Your answer should show that you understand the importance of presentations and how to prepare for them. Free interview details posted anonymously by Charles River Associates interview candidates. Any insight much appreciated. Terms of Use | Energy Consulting. It was important for me to know my resume inside and out. The firms are hip and cool, and people are valued for contributions not positions. They want to know if you have any experience working with clients like theirs, or if youre familiar with their companys industry. Nearly every major economic consulting firm uses case interviews in their interview process. Make sure to keep these qualities in mind when going into your economic consulting case interview. Very unprofessional. Example: At my previous job, I was tasked with creating a financial model for a client who needed the information as soon as possible. Email us! This question can help the interviewer determine if you have experience with similar projects to those they may assign you at NERA. The other two were behavioral and with younger staff/analysts. They had a set of graphs that you would typically see in a statistics course or an econometrics course, like a QQ-plot, etc. Focus on understanding the context of the situation and the objective of the case. Economic Consulting. Hi dear fishes, I'm looking for referrals for analyst/associate/econ consultant roles for June 2023 start. Make sure you can talk alot about all experiences you have working with data. Because there is minimal client exposure at junior levels for NERA, you can expect again a more relaxed workplace. Analyst/Senior Analyst/RAs at NERA Economic Consulting - what is your base + bonus ranges generally? The exception at NERA are clients who testify as expert witnesses they are the ultimate kings but behind the scenes, if you do good work, youll get promoted early or will receive accelerated responsibility. 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. 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. Opens the Fishbowl by Glassdoor site in a new window, Tell me about X research project from your resume. KPMG. However, most positions will require at least one behavioral interview and one technical interview. Do you have experience conducting research? Maths and economics test, micro economics and econometrics case study interview, a case about UK electricity industry, use economics theory to explain. The number you see in the middle of the doughnut pie chart is the simple average of these scores. NERA Economic Consulting requires its employees to be able to handle large amounts of data and interpret it effectively. How High Above Ground Would New Rope Sit? Prepare for 40 min, presentation, and QA The first notable factor about interviews is that, unlike MBB where youll have an almost identical process around the world NERA interviews are largely up to the interviewers. Prepare for 40 min, presentation, and QA partner interview. 2nd round had 3 case studies, behavioral and technical questions. Youre the captain of a pirate ship, and your crew gets to vote on how the gold is divided up. Phone interview consisted of behavioral and fit questions, such as questions about research experience and interests. If youre looking to become an economic consultant, youll need to ace your economic consulting case interviews. The career path of NERA is not too different to that of other major consulting firms. KPMG. 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. What would you say is your biggest weakness as an analyst? So, propose an area and provide a reason for why you want to start with that area. For the best experience we recommend upgrading to the latest version of these supported browsers: I wish to continue viewing on my unsupported browser, Learn more about NERA's global services 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. I applied from my economics department career website. 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 am especially interested in working here because of the firms commitment to diversity and inclusion. Why this particular position? This question can help the interviewer get a sense of your knowledge and how you learn. Example: I would first make sure I have all my materials ready, including any visuals or slides I may need. As for cases, ~50% of candidates last year did not having any case questions come up in the interview at all. Interviewing with NERA Economic Consulting? BCG Platinion Describe independent research project that you have worked on, Case studies about regulation of natural monopolies and electricity market design. Average salary for NERA Economic Consulting Corporate Web Specialist in Newquay, England: [salary]. 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. Using this method allows economists to more accurately predict future inflation rates.. Weve included each here with a point of commentary on each one below. Interviewed for one hour. AmbitionBox Interview Questions. I applied online. Describe a time where you were given a task with limited information. Opens the Fishbowl by Glassdoor site in a new window. No case studies. 2023 National Economic Research Associates, Inc. Did you know that your browser is out of date? There is generally no right or wrong area of your framework to pick first. NERA Economic Consulting is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. 202. Charles River Associates Nothing unexpected. Your economic consulting case interviews will give you a taste of what it would be like to be an economic consultant. When it comes to interviews, preparation is key. Through more than 20 offices worldwide, the company offers economic research, analysis, and advice to governments, corporations, regulatory agencies, trade associations, law firms, and other organizations. NERA is pleased to welcome Masatake Kuramoto to our Global Transfer Pricing Practice. You bring your talent, energy, and dedication. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. This question is a basic test of your understanding of economics. Example: I learned recently that there is a new way to measure inflation called chained CPI. Finance Cases: These cases include topics such as bankruptcy, consumer protection in financial services, financial institutions and banking, and financial risk management. The process took 4 weeks. Case Interview Question #01156: Your client Gold Mining USA Inc. (GMUI) is a large gold mining company based in Greenwood Village, Colorado, United States. The approach to solving economic consulting cases is generally the same as traditional case interviews. On a scale of 1-10 where 1 is Poor and 10 is Excellent, rating is 6. This question is a common one in interviews, and its important to be honest. 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. Example: I graduated from Boston University with a bachelors degree in economics. If you add 200 meters to the length of the rope, you get another circle, still centered Read the rest. The key to answering qualitative questions is to structure your answer. NERA Economic Consulting benefits and perks, including insurance benefits, retirement benefits, and vacation policy. 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. AmbitionBox. Free interview details posted anonymously by NERA Economic Consulting interview candidates. 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). Glassdoor users rated their interview experience at. 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.. Interview Questions. Economic consulting is mostly a type of paralegal work. Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to the simple company average and away from the average of the entire data set. 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. 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. 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. Another way to think about frameworks is brainstorming different ideas and organizing them into different categories. One of them was resume based, and others tested on how fast the candidate could respond to real-world economic problems. 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. Despite recent global expansion, the core offices are still located in the U.S. in the mid-Atlantic and northeast academic hotbeds. I interviewed at NERA Economic Consulting. Are you able to handle large amounts of data and interpret it effectively? The second round was an interview with a Managing Director. 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. Associate Directors Dr. Bruno Soria and Adrien Cervera-Jackson analyzed the impact of subscription video-on-demand (SVOD) on European audiovisual markets. 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. Dr. Taylor specializes in competition and regulatory economics and has deep expertise in energy and telecommunications. This question helps the interviewer determine if you possess the necessary skills to succeed in this role. NERA Economics Impact Report. Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. Economic consulting case interviews primarily assess five qualities: Logical, structured thinking: Can you structure complex problems in a clear, simple way? If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. M&M companies are traditionally excellent pioneers of diversity and inclusion culture check out the below under Interviews & Recruiting. NERA has one president, currently Dr. Lawrence Wu, one chairman, currently Dr. Andrew Carron, and ~40 senior vice presidents/directors, ~40 vice presidents/associate directors, and ~50 senior consultants/principals. Tie this one to the prior core value NERA is focused on having the most comprehensive base of economic expertise in the industry. Average salary for NERA Economic Consulting Research Officer in Braunton: 46,245. In my last role, I worked with a client who was having trouble finding qualified employees for their factory. After discussing it with the team member, they agreed to recalculate their numbers based on my suggestions. The hiring process at NERA Economic Consulting takes an average of 26 days when considering 184 user submitted interviews across all job titles. However, one that tripped me up was describing how I delegate tasks in a leadership position. In their recent article, Dr. Verena Hahn, Dr. Yves Herv, Dr. Jens Rubart, and Dr. Salem Saljanin showcase how the Shapley value concept can be utilized for multinational corporations profit allocation. Find contacts: direct phone number, email address, work experience. Example: NERA Economic Consulting has a reputation as one of the top economic consulting firms in the world, and Im excited to join such a talented team. What is the interview process like at NERA Economic Consulting? On a scale of 1-10 where 1 is Easy and 10 is Difficult, rating is 5. Case Interview Question #01371: The 2022 Winter Olympic Games is an international winter multi-sport event that is scheduled to take place from February 4, 2022 to February 20, 2022, in Beijing and towns in the neighboring Hebei Read the rest. McKinsey & Company On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. Microeconomics materials should be reviewed for the preparation. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Not invited for the second round Of interview. They all asked about either research or behavioral questions such as tell me about a time when you work on a team project and it failed. The firm advises government divisions, law firms, and major global corporations on governmental regulation (like anti-trust rulings), public policy implications, public, competitive forces,and private financing. 4. The other ~20% come from employee referrals (18%) and application online (2%). Overall, the interview process is relatively long and can take up to two months to complete. Steven Failla has been working as a Software Engineer for NERA Economic Consulting for 306 days. This question can help interviewers understand your knowledge of how economic forecasts are used in business decisions. Are you articulate in what you are saying? The process was structured and the interviews were fairly standard: I talked about my research mostly and the interviewers told me about the firm. The interview last from 9:30 to noon. They asked me to draw graphs and to show them to the camera. If you are considering alternative resources to use, below are the two books we recommend. Consulting Firm: NERA Economic Consulting 1st round full time job interview. I interviewed at NERA Economic Consulting in May 2021. how do you recommend apportioning the gold in such a way that you get a good share of the booty, but still survive? Can you give me an example of a time when you disagreed with a team members conclusion, how did you handle it? Its boring. 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. NERA highlights 5 core values on their website. 146 followers . 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. 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. This interview was based mostly of behavioral and technical questions. 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. The behavioral interviews will focus on your past experiences and why you are interested in working at NERA. Case Type: increase sales/revenues. 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. Economists at the firm create studies, expert testimony, strategies, reports, and policy recommendations for the world's leading law firms . I interviewed at NERA Economic Consulting in Nov 2011. first round on campus interview, talk about research experience. Make sure you have a compelling story about yourself that leads to why you are interested in the job. 116 NERA Economic Consulting Research Associate interview questions and 105 interview reviews. A client has a budget of xx, what would you do with it? or Want to Sign up with your social account? 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. 200. One competency based interview and one economics one that covered mainly basic economic intuition on topics like natural monopolies. Interview Type: Behavioral and Fit Interviews. Its monotonous. 1. How are economic forecasts used in business decisions? While the interviewer is speaking, make sure that you are taking meticulous notes on the most important pieces of information. Free career advice, salary information, interview tips, referrals from employees at NERA Economic Consulting. 6. 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. I interviewed at NERA Economic Consulting (New York, NY). MBAs or other experienced hires are usually brought on as, Consultant Senior Consultant Vice President Senior Vice President. Online interview was purely behavioral, I talked about my data experience, favorite econ class, etc. Graduating with Econ masters from Yale next May ~ roughly 2 years work experience in research & data analysis at a Big 4. You can look at the other case interview examples to practice thinking about how you would structure an approach to solve those cases. It felt rather informal and laid-back. 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 other hard thing to prepare was various ways to code into STATA or R specific econometric models. Nothing too hard, but they never got back to me with a reply. Be the first to find this interview helpful. WWL published its annual guide to spotlight expert witnesses and future leaders in resolving complex international disputes. The whole process takes about a month and a half. They have a wide variety of practice areas including Antitrust and Competition, and Energy, Environment, Communications and Infrastructure. The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Congratulations to Katie Orlandi for her promotion to Director. To combat this, Ive started taking short breaks throughout the day to reflect on the bigger picture.. The HR and the case study consultants were all nice and friendly. 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. I was then invited to a final round at the firm, and I spoke to 5-6 individuals including a lunch. The technical interviews will . Why should we not hire you? The interviewer asked me to introduce myself and then asked about my research paper. This question allows the interviewer to assess your ability to do so, as well as how you would approach this task. I believe that if we were able to develop a more accurate measurement of GDP, we would be better equipped to create policies that promote sustainable growth.. In fact, I find that math helps me solve problems more quickly than if I were just using logic alone. Example: I am highly organized, which allows me to complete my projects on time. *, You need to log in to access the rest of the page.