205. I interviewed at NERA Economic Consulting in Jan 2023. If you lay out and present your structure to solve the quantitative problem and the interviewer approves of it, the rest of the problem is simple execution of math. 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. The environmental impact of gold mining Read the rest. Consulting Firm: NERA Economic Consulting first round full time job interview. Register here: Join Dr. Andrew Stivers on 8 Feb for a webinar exploring how the FTC undertakes the cost-benefit analysis for proposed rules and learn practical tips for drafting rulemaking comments. Mit Studienbeitrgen zu BWL, VWL und Wirtschaftsinformatik. They rescheduled for me. One of the questions dealt with a particular advertisement about certain hospitals/doctors that discouraged patients from visiting them, which turned out to be false. One of them was resume based, and others tested on how fast the candidate could respond to real-world economic problems. AmbitionBox Interview Questions. Industry Coverage: mining & metals production. Number of Questions: 207. Do you have experience conducting research? 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. 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. Any insight much appreciated. Overall the process was very fast, one screening interview, one 3 hr interview, and a final interview with MD. How would you analyze allegations of discriminatory lending practices? The hiring process at NERA Economic Consulting takes an average of 26 days when considering 184 user submitted interviews across all job titles. Looking for case interview practice partners? It was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters. 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. 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. case study interview, a case about UK electricity industry, use economics theory to explain. Hi dear fishes, I'm looking for referrals for analyst/associate/econ consultant roles for June 2023 start. A current research associate interviewed me and asked basic questions regarding previous research projects and analytical skills such as if I know any programming skills, R, Python, or STAT. Contribute to the database and get 1 month free* Full online access! Make sure you have a compelling story about yourself that leads to why you are interested in the job. Industry: Consulting. Brief application asking to submit cover letter/resume, followed by an interview that is mostly behavioral. That means being smart about grabbing it from inside its own ranks, not just outside. I think I was fortunate to come across really cool economists. After all, running the same statistical regressions on 2 different industries isnt really that different at the end of the day. how do you recommend apportioning the gold in such a way that you get a good share of the booty, but still survive? They are available in digital or paperback format on Amazon. Business acumen: Do you have a basic understanding of fundamental business and economics concepts? Nearly every major economic consulting firm uses case interviews in their interview process. I find it fascinating that a single change in policy can have such a large impact on the economy as a whole. Once you have identified the major issues or areas that you need to explore, walk the interviewer through your framework. Interviewed for one hour. Two rounds of interviews with a mix of junior/senior level staff. (Note that because fit is very important to NERA, each office hires separately. 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. 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. This question can help the interviewer get a sense of your personality and how you might fit in with their team. KPMG. Economic consultants solve problems ranging from estimating future liabilities to helping settle legal disputes. Originally published December 15, 2020. Went through my college, applied and got an online interview. NERA Economic Consulting, Inc., or National Economic Research Associates, is an economic consulting firm founded in 1961. Please. BCG Platinion Brush up on GRE and GMAT math questions, and make sure you remember key economics principles and statistical equations. Interviewing with NERA Economic Consulting? Overall experience. Asked about previous research experience and especially quantitative experience. I interviewed at NERA Economic Consulting in May 2021. Hi folks, I'm looking for an entry level referral from Analysis Group or NERA Economic Consulting. While MBBs main focus is strategy, economic consulting firms like NERAs focus is on economics first and strategy second. Economic consulting case interviews primarily assess five qualities: Logical, structured thinking: Can you structure complex problems in a clear, simple way? Half an hour of an HR interview and two case studies. Are you pleasant to be around? They usually want to see that you have relevant coursework and experience in areas like economics, stats, accounting, and finance. Or, solve 6 sample cases for free! If the case interview is a candidate-led case, youll be expected to propose what area of your framework to start investigating. 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. The case studies were the most difficult questions asked. I had to explain how I would have ran the regression in my program of choice. The phone interview was about 30 minutes. Just MAKE SURE you network at such a small firm, a blind resume drop means nothing and an employee recommendation means everything. Financial Consulting. Diversity groups are called Employee Network Groups in Marsh & McLennan companies. Interviewers want to know that youre aware of your weaknesses and are actively working on them. Economic consulting is used less for strategy, and more for litigation or regulatory compliance issues. I got a phone call with an offer 2 days later with a 2 weeks deadline to answer. I think they answered truthfully or to the best of their knowledge. HR asked some motivational questions, such as why applying for NERA, and why specific practice. 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. Prepare for 40 min, presentation, and QA partner interview. Are there anything that you hate in your previous job/company? 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). how do you choose which ones to do? This question can help the interviewer get a sense of your economic knowledge and how you view current events. 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. The second round was an interview with a Managing Director. I was a lateral hire. 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. The interview consisted of some general questions and a brain teaser. The other hard thing to prepare was various ways to code into STATA or R specific econometric models. Nera Economic Consulting interview questions and answers interview rounds and process 2023 GD topics test pattern shared by employees and candidates. Employers ask this question to learn more about your background and how it relates to the job. You had some unusually varied work experience before you went to business school. 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. how much should they spend on advertising? How did you approach the situation? A framework is a tool that helps you structure and break down complex problems into smaller, more manageable components. Bain & Company The company asked for resume, transcript, writing sample, and recommendation. In fact, I find that breaking down a large dataset into smaller chunks makes it easier for me to analyze and understand the information.. This button displays the currently selected search type. This question is an opportunity to show your passion for economics and how you can make a difference. 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. Lifestyle is a great reason to choose NERA predictable hours, predictable travel, in an intellectually stimulating environment. Reviews They want to know if you have any experience working with clients like theirs, or if youre familiar with their companys industry. Why do you want to work at NERA Economic Consulting? There may also be a written test or case study component to the interview process. KPMG. NERA's economists create reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. Bain & Company 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.. NERA has developed quite a reputation, but has managed to keep itself small, clearly focused and prestigious in the process. Infos und Tipps zu MBA-Studium, Berufseinstieg und Karriere. The construction costs $1B, but your client would . 8 NERA Economic Consulting Analyst interview questions and 8 interview reviews. NERA Economic Consulting is a leading economic consultancy with more than 25 offices around the world. 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. Free career advice, salary information, interview tips, referrals from employees at NERA Economic Consulting. Focus on understanding the context of the situation and the objective of the case. 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). Interview Questions. Are there any particular projects or areas that you would enjoy working on at our firm? Above all else, they are seeking a competent and SAFE professional so be sure to carry yourself as one. They might know your approach was right, but they want to make sure you can explain why (kind of like a stress test). Its important to be honest in your answer, but try not to make it too political or controversial. We conducted an economic forecast to determine if there would be enough demand for their products at this location. This question can help interviewers understand your knowledge of how economic forecasts are used in business decisions. It studies things like inflation rates, unemployment levels and gross domestic product.. This question is an opportunity to show your passion for the field of economics. In both cases, I used data analysis software to examine trends and patterns that could inform our recommendations.. NERA is a wholly-owned subsidiary of Marsh & McLennan Companies. Use your answer to highlight some of your most important analytical skills and how they benefit your work. I applied through college or university. I had to walk through a pretend case in econometrics, which culminated in regression testing. 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. Dr. Vinita Juneja and Ivelina Velikova will attend WWCDAs Annual Attorney Meeting to participate in engaging discussions and collaborate on WWCDAs mission of advancing women in law. Difficult. Copyright Hacking the Case Interview 2023. No case studies. 4. Example: Microeconomics focuses on individual markets or industries. I applied for the Finance and Securities practice. Would you like to take your boss position? Sometimes I get so caught up in the details that I forget why Im doing what Im doing. Example: I am most interested in economic theory, particularly supply-side economics. A client has a budget of xx, what would you do with it? The process took 2 weeks. The firm initially consisted of 17 employees and the 2 founders. How are economic forecasts used in business decisions? Analyst/Senior Analyst/RAs at NERA Economic Consulting - what is your base + bonus ranges generally? My ability to analyze complex data has helped me discover new insights that have led to more effective solutions for clients.. They were nice and encouraged questions. The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company. If you have strong math skills, this can be an opportunity to show off your abilities. In your answer, define macroeconomics and microeconomics and explain how they differ from each other. 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. Why you? If you hover over the various sections of the donut, you will see the % breakdown of each score given. Then we all went to lunch from noon-1 with 2 other employees. NERA Economic Consulting, LMI Government Consulting, Cornerstone Research, IBM Consulting, Competition Policy Analysis Group, CNA 5. As for cases, ~50% of candidates last year did not having any case questions come up in the interview at all. That means: motivation, clearly defined research question, methodology, problems and solutions, results. really drilled deep into stats concepts and research topics. Not invited for the second round Of interview. Here are a number of groups you could participate in while working at NERA Economic Consulting. A consultant asked me some technical questions on economics and econometrics, which are the most difficult ones. The process was structured and the interviews were fairly standard: I talked about my research mostly and the interviewers told me about the firm. 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. Preferred locations; Seattle, Cali, DC, Toronto. 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. Make sure you can talk alot about all experiences you have working with data. 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. Tie this one to the prior core value NERA is focused on having the most comprehensive base of economic expertise in the industry. On a scale of 1-10 where 1 is Poor and 10 is Excellent, rating is 6. Free interview details posted anonymously by NERA Economic Consulting interview candidates. Both interviews were online (on zoom) with two consultants. Cookies Notice | They ended up reducing the cost by 15%, saving the company $150,000.. On Fishbowl, you can share insights and advice anonymously with NERA Economic Consulting employees and get real answers from people on the inside. Find contacts: direct phone number, email address, work experience. 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. Interview process at NERA Economic Consulting. He specializes in directing and presenting financial and economic analyses in internal investigations, government and regulatory enforcement actions, class actions, and M&A litigation. Does this vary by practice area? Consulting. The interview process at NERA Economic Consulting can vary depending on the position you are applying for. Interviewing with NERA Economic Consulting? The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company. About the Company. Hi folks, I'm looking for an entry level referral from Analysis Group or NERA Economic Consulting. Environmental Sustainability Consulting. One first round phone interview followed by a super day. 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. Then, I would practice my presentation at least twice before presenting it to ensure I am comfortable with the content and delivery. Consulting Firm: NERA Economic Consulting first round full time job interview. 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). Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. This question is a great way to learn more about the candidates personality and how they interact with others. For example, you may be asked to calculate a certain profitability or financial metric. The interview lasted about 30 min with one consultant. You can look at the other case interview examples to practice thinking about how you would structure an approach to solve those cases. The process took 6 weeks. 200. Thanks in advance. WWL published its annual guide to spotlight expert witnesses and future leaders in resolving complex international disputes. This question can help the interviewer get a sense of your knowledge and how you learn. 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. Okay, innovation here isnt quite what Silicon Valley would call innovation its not actually anything new. what projects I have involved in? Super day included two cases with senior managers and 3 behavior interviews with analysts/junior employees on the team. The case interview for economic consulting is similar to that for management consulting . 6. Based on 776 salaries posted anonymously by NERA Economic Consulting Corporate Web Specialist employees in Newquay. Know about salary and benefits expectations before the interview . Add your data to unlock Full WSO Database. The process took 4 weeks. Defense Consulting. This question is a common one in interviews, and its important to be honest. Economic consulting is mostly a type of paralegal work. Mr. Kuramoto has over 25 years of experience assisting Japanese multinationals with transfer pricing strategy, documentation, APAs, and disputes. 7. That being said, NERA is still a major player in the consulting industry and heres why: NERA Economic Consulting is one of the top economicconsulting firms. Interviewers ask this question to learn more about your ability to work under pressure and meet deadlines. Communication skills: Can you communicate in a clear, concise way? It was important for me to know my resume inside and out. Example: I graduated from Boston University with a bachelors degree in economics. 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. In other places such as Cornerstone. . All Rights Reserved. I used this information along with industry benchmarks to create a realistic budget that would allow the department to meet its goals while staying within the companys overall budget.. This question can help the interviewer get to know you as a person and how your personality might fit in with their company. 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 This is a common Marsh & McClennan portfolio firm trait one definitely shared by Lippincott and Oliver Wyman. 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. You should be able to solve your economic cases without having to rely on outside knowledge. Example: In my last position, I disagreed with a team members conclusion on a project we were working on for a client. 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. Have some insider perspective that youd like to share? Each firm supports and offers experts to testify in litigation matters related to economics and finance. Then they asked how I would estimate the losses caused by those ads. It can also show them that you are able to think critically about your work and challenge others conclusions or ideas. NERA consultants are impeccably trained to understand the rich complexities of the competitive landscape, and as such are confident in their abilities to develop competitive products and services. Dr. Sorensen specializes in advising clients on auction design and bidding strategies in diverse markets. Any insight much appreciated. I interviewed at NERA Economic Consulting. Congratulations to Katie Orlandi for her promotion to Director. After discussing it with the team member, they agreed to recalculate their numbers based on my suggestions. Conduct research on industry trends, market dynamics, and other topics related to client engagements. NERA has established quite a global presence with 26+ offices in North America, Europe, and Asia Pacific. What analysis, what program skills you know. - Organized interview materials for a consulting project What is one thing that you think needs to change in the field of economics? This interview was based mostly of behavioral and technical questions. Applied through their website and got contacted about the first round 1-2 months later. NERA Economic Consulting sucht Werkstudent Competition Economics (m/w/d) A.S.I.