I interviewed at NERA Economic Consulting in Nov 2011. first round on campus interview, talk about research experience. Employers ask this question to learn more about your background and how it relates to the job. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. The only information I had to go off of was what the department head told me about their current spending habits. They were nice and encouraged questions. Despite recent global expansion, the core offices are still located in the U.S. in the mid-Atlantic and northeast academic hotbeds. or Want to Sign up with your social account? 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. It studies things like inflation rates, unemployment levels and gross domestic product.. I applied online. 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. The phone interview featured relatively straightforward questions and none that I found too tricky. The interview focus is largely dependent on which practice you are interviewing for. Describe independent research project that you have worked on, Case studies about regulation of natural monopolies and electricity market design. A client has a budget of xx, what would you do with it? Have some insider perspective that youd like to share? I interviewed at NERA Economic Consulting. You had some unusually varied work experience before you went to business school. The second round was an interview with a Managing Director. Dr. Sorensen specializes in advising clients on auction design and bidding strategies in diverse markets. 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. 1 Charles River Associates Economic Consultant interview questions and 1 interview reviews. Also, check glassdoor because it helped me a lot. Online interview was purely behavioral, I talked about my data experience, favorite econ class, etc. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. Learn more. Case Interview Question #01003: The client Turner Construction Company is a North America-based, international construction services company and is a leading builder in highway. 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 is a wholly-owned subsidiary of Marsh & McLennan Companies. IT Operations Consulting. In other places such as Cornerstone. It felt rather informal and laid-back. Example: Microeconomics focuses on individual markets or industries. 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. When you're talking to experts, know your stuff - nothing worse than being asked a question about your regression and giving an unclear, fumbling answer to someone whose job it is to do this stuff. 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. Average salary for NERA Economic Consulting Corporate Web Specialist in Newquay: 56,119. 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. They asked me mostly case-based questions on healthcare industry. Know about salary and benefits expectations before the interview . Case Type: increase sales/revenues. The interview lasted about 30 min with one consultant. 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. Example: I am highly organized, which allows me to complete my projects on time. Continue Reading Data Analytics Consulting. It is also good practice to include potential next steps that you would take if you had more time or data. MBAs or other experienced hires are usually brought on as, Consultant Senior Consultant Vice President Senior Vice President. The number you see in the middle of the doughnut pie chart is the simple average of these scores. Then we all went to lunch from noon-1 with 2 other employees. I received an offer a few weeks later. Please Log in or Register now.Subscriptionsstart at only $7/month. Then they asked how I would estimate the losses caused by those ads. Applied through their website and got contacted about the first round 1-2 months later. The extent to which you are expected to have this knowledge depends on the tenure of the role you are interviewing for. Prepare for the types of questions you are likely to be asked when interviewing for a position at NERA Economic Consulting. What is the difference between macroeconomics and microeconomics? NERA Economic Consulting is a global consulting firm comprised of experts dedicated to using finance, economic, and quantitative principles to tackle complex legal and business challenges. Two were with Directors and were case studies about stock price changes. Weve compiled a list of some common questions that interviewers at NERA like to ask, along with some sample answers to help you prepare. Economic Consulting. A week after I applied online, I received an invitation for a phone interview. 1. Once you have finished presenting your framework, youll start diving into different areas of your framework to begin solving the case. Average salary for NERA Economic Consulting Associate Analyst in Godalming: 52,523. 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. 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. 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). 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. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators . NERA Economic Consulting, LMI Government Consulting, Cornerstone Research, IBM Consulting, Competition Policy Analysis Group, CNA This question is a common one in interviews, and its important to be honest. 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. How High Above Ground Would New Rope Sit? 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. case study interview, a case about UK electricity industry, use economics theory to explain. Database of NERA Economic Consulting interview questions. What would you say is your biggest weakness as an analyst? 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). 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. 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. If you hover over the various sections of the donut, you will see the % breakdown of each score given. The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. 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. Fit & Behavioral Interview Answer Guides and Tutorials, Leave your comment here. Example: I am most interested in economic theory, particularly supply-side economics. I interviewed at NERA Economic Consulting. One first round phone interview followed by a super day. If you are considering alternative resources to use, below are the two books we recommend. Charles River Associates Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Easy. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Personality and cultural fit: Are you coachable and easy to work with? 4. They might know your approach was right, but they want to make sure you can explain why (kind of like a stress test). 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. 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. Use examples from previous work or school experiences where you had to research information, analyze data or make decisions with limited resources. Economic consultants solve problems ranging from estimating future liabilities to helping settle legal disputes. After all, running the same statistical regressions on 2 different industries isnt really that different at the end of the day. 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. This question is a great way to learn more about the candidates personality and how they interact with others. Here are a number of groups you could participate in while working at NERA Economic Consulting. Bain & Company I interviewed at NERA Economic Consulting in Jan 2023. Or, solve 6 sample cases for free! The second round was an interview with a Managing Director. Talked with two analysts and 3 senior-level employees. The interview process was through my school. Example: Math is very important to me because I am able to use my math skills every day at work. Industry Coverage: None Number of Questions: 207. 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. Once you have identified the major issues or areas that you need to explore, walk the interviewer through your framework. It also allows you to demonstrate your knowledge and understanding of different areas of study within the field. That being said, because NERAs work isnt insanely high-pressure Wall Street earnings arent waiting and litigation schedules are intense but not spontaneous you can expect to work around 50 hours/week versus a standard 60 at MBB firms. One competency based interview and one economics one that covered mainly basic economic intuition on topics like natural monopolies. 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. Find contacts: direct phone number, email address, work experience. I am especially interested in working here because of the firms commitment to diversity and inclusion. spread-sheet, case study, behavior questions. Gold mining is the resource extraction of gold by mining. Free interview details posted anonymously by NERA Economic Consulting interview candidates. Case studies and behavioral questions (Why Nera, tell me about your research, etc). The environmental impact of gold mining Read the rest. 198. The firm initially consisted of 17 employees and the 2 founders. 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. Lets just quickly discuss the difference between a top management consulting firm and an economic consulting firm. NERA Economic Consulting The process took 2 weeks. The carbon dividends model generates an extra $190 billion in economic output, on average, per year compared to the . A week after the phone interview, I was invited for an on-site interview. The approach to solving economic consulting cases is generally the same as traditional case interviews. I interviewed at NERA Economic Consulting. Reviews Required fields are marked *, Are you a human or a robot? Economists at the firm create studies, expert testimony, strategies, reports, and policy recommendations for the world's leading law firms . Example: I learned recently that there is a new way to measure inflation called chained CPI. 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. Analysis Group Why you? Thanks in advance Why do you want to work at NERA Economic Consulting? Consulting Firm: NERA Economic Consulting first round job interview. No case studies. This question helps the interviewer determine if you possess the necessary skills to succeed in this role. Brush up on GRE and GMAT math questions, and make sure you remember key economics principles and statistical equations. Nearly every major economic consulting firm uses case interviews in their interview process. 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. 06 December 2021 Economic consulting is used less for strategy, and more for litigation or regulatory compliance issues. The career path of NERA is not too different to that of other major consulting firms. This button displays the currently selected search type. While MBBs main focus is strategy, economic consulting firms like NERAs focus is on economics first and strategy second. A case on what is the size of the domestic market for cell phones. 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 would rate my math skills at a 9 out of 10.. Why dont you tell me a bit about your career path and some of the decisions you made about what direction to take? In North America and Asia the typical undergrad will start as aResearch Associateand, if promoted, the career path will look like this: Research Associate Associate Analyst Analyst Senior Analyst, The notable difference is that there are 4 pre-MBA steps not just 2. 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. On 3 Feb Director Fernando Jimnez will discuss recent case law and explore emerging competition issues in Spain and the EU at the IEB Seminar on Recent Developments in EU Competition Law. This method takes into account that when prices for certain goods increase, people will substitute those goods with cheaper alternatives. If you are interviewing for an entry level economics consulting role, you likely wont be expected to have deep expertise in these topics. Its a hardcore reality when you put too many economists together, you dont get hipster culture you get (with some exception) a tendency toward cut-and-dry facts with a bit of social awkwardness thrown in. Make sure you have a compelling story about yourself that leads to why you are interested in the job. In my last role, I worked with a client who was having trouble finding qualified employees for their factory. Financial Consulting. 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 firms are hip and cool, and people are valued for contributions not positions. Well, NERA is no MBB. ), there is a slight chance that you will be hired although they will be looking for the same experience and skills level as those who have attended top tier schools. Contribute to the database and get 1 month free* Full online access! Which area of economics are you most interested in and why? 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.. 5 different interviewers. Case Type: investment. Turner Construction Evaluates Interstate Highway Project. In my case, I did not have a case and the interview was largely made up of questions regarding my past experiences and skills. The other two were behavioral and with younger staff/analysts. Free interview details posted anonymously by Charles River Associates interview candidates. You may want to summarize the case background information back to the interviewer to confirm your understanding of the case. After several email communications, HR arranged an interview with a senior partner at New York. Environmental Sustainability Consulting. Most questions were behavioral, but I was also asked to explain my interest in economic consulting and the economics discipline. 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. The deadline was tight, but I knew I could do it if I worked hard enough. Focus on understanding the context of the situation and the objective of the case. It was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters. The second round was an interview with a Managing Director. 203. Terms of Use | Dr. Taylor specializes in competition and regulatory economics and has deep expertise in energy and telecommunications. Why NERA? 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. The interviewers were very interested in the candidate's statistical skills. (Note that because fit is very important to NERA, each office hires separately. This knowledge has been helpful when applying for jobs at consulting firms.. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. how do you choose which ones to do? I interviewed at NERA Economic Consulting in Jan 2023. I applied online. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Your commitment to these values is evident in your hiring practices, employee resource groups and training programs.. I applied for the Finance and Securities practice. Would you like to take your boss position? what projects I have involved in? 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. Analytical experience? The final round was five back-to-back interviews at their New York office. A case on what is the size of the domestic market for cell phones. Based on 776 salaries posted anonymously by NERA Economic Consulting Corporate Web Specialist employees in Seaham. It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. When giving your opinion on a business issue or situation, provide a summary of your stance or position and then enumerate the reasons that support it. Behavioral questions such as what is your favorite course? This interview was based mostly of behavioral and technical questions. Both interviews were online (on zoom) with two consultants. Economic consulting is mostly a type of paralegal work. Lets face it the work at NERA is less sexy than work at MBB, the people are more brainy, and the culture is less cool. If you found this article helpful, youll love our comprehensive case interview course. In fact, I find that math helps me solve problems more quickly than if I were just using logic alone. 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. Analytical problem solving: Can you read and interpret data well? 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. A consultant asked me some technical questions on economics and econometrics, which are the most difficult ones. 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. Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. See the diagram below for a clear structure of how the Marsh . The key to solving quantitative problems is to lay out a structure or approach upfront with the interviewer before doing any math calculations. This question allows the interviewer to assess your ability to do so, as well as how you would approach this task. I stayed late every night for two weeks until I completed the project.. If you have strong math skills, this can be an opportunity to show off your abilities. NERA Economic Consulting sucht Werkstudent Competition Economics (m/w/d) A.S.I. They rescheduled for me.