Vault’s Verdict

Over 60 years into the game, it’s no surprise that NERA has nailed down many of the core aspects of running a successful, employee-focused econ consulting shop. But, while Insiders wax lyrical about the potential for rapid career development, robust compensation, and flexible remote work policies, the thing they’re truly in love with is the challenge of the work itself, and the high caliber of the colleagues the get to do it with (and learn from).

The firm’s culture is deeply rooted in meticulous attention to detail, producing consistently accurate analyses that distinguish it in the industry. Ideal for recent graduates or those eyeing graduate school, NERA offers a unique blend of intellectual rigor and practical experience. While the firm promotes a work-life balance and mental well-being, the consulting workload can result in unpredictable hours, especially during intense project phases.

Career advancement at NERA is straightforward at junior levels but reaching senior positions often necessitates further academic qualifications. The firm's commitment to mentorship and professional growth is notable, providing a supportive environment for career progression. NERA's business outlook is stable, underpinned by its specialization in economic consulting and resilience in fluctuating markets, making it an extremely strong choice for those with the interest in building a career in high-end economic consulting.

Employee Reviews

Firm Culture

• “Attention to detail. Our outputs are far more consistent and accurate than most competitors. Every output faces a rigorous verification process that leads to some of the best analyses in the industry.”
• “Great first job out of college, especially if you are considering graduate school. This firm is one of the few places outside of a university where you will work with Ph.D. Economists. Its employees tend to be very intelligent and academic. Be prepared for a significant challenge, particularly in your first six months.”
• “NERA employees tend to stay until they retire. The reason is that many of us find that of all the consulting firms, no other has the collegiality and quality of work product than us.”
• “NERA offers many opportunities for growth and competitive compensation but is best for those willing to endure a high-stress environment.”
• “Solid job out of college for an econ major interested in finance.”

Quality of Life

• “As is consistent with the economic consulting industry, the hours at NERA can vary wildly depending on deadlines and the number of active projects. That being said, the senior staff at NERA are always very good about letting the more junior employees know when hours will become longer. Taking time off is easy as long as you communicate about it in advance. There is little to no travel ever required for junior staff at NERA.”
• “Firm culture is very collegial, facilitated largely by collaborative nature of day-to-day work. Management structure makes it easy to make your voice heard as a junior employee. Late nights and weekend work rarely come without fair warning, but hours are quite volatile.”
• “I think managers really support work life balance by offering flexible working hours and making it easy to take time off. As in any consulting firm, near deadlines sometimes there is less flexibility, but this is to be expected.”
• “NERA is rather easy going in terms of work and life balance. However, as a small firm, I can feel isolated.”
• “Sometimes we have to work long days, but the work hours are very flexible, which allows me to manage to the work and family life pretty well.  Our colleagues are very nice and smart, so it's a really nice place to work.”

Career Development

• “As a junior staff member, the promotion process has been smooth and easy. An annual performance review would generally lead to a discussion with your direct supervisor and a discussion of what to focus on for the coming year, in addition to a new title as long as you were meeting expectations. However, about 3 years ago, I reached the ceiling for junior staffers and will need to return to school for an advanced degree if I hope to be promoted again. That has been a difficult pill to swallow, as I have many years of experience and am operating quite close to the level of the next promotion already (per my group director). I cannot argue that an advanced degree would likely give me additional technical and theoretical knowledge that, six years out of undergrad, I may be lacking compared to other senior staffers. Nonetheless, I do wish that there was a clear path laid out for a way to get the promotion and the necessary skills/knowledge without going back to school and having to step away from work during that time. My firm's education assistance program is also limiting, as it only covers part of a part-time tuition plan, where you must remain a full-time employee. That would be an incredibly undesirable approach, as work frequently spills over into the evenings. I cannot imagine having to work full time AND take evening classes for the 3-4 years that would be required to earn a degree, unless I wanted to give up any hope of maintaining relationships or starting a family in the near future. If it is a requirement to pursue the advanced degree, I wish there were an opportunity for some level of firm sponsorship during an accelerated 1-year degree program that allowed for a hiatus from working, allowing students to be fully present and committed to the program without the demands of full-time work as well. As with most things, it's a two way street. If you really like what you're doing and want to build a career in it then there's plenty of opportunities to be mentored, learn and grow.”
• “Good training program and pretty clear-cut promotion policies. Difficult to gain exposure to different types of work as we are placed in a specific group in a specific practice before starting.”
• “I feel like there are consistent opportunities for growth in technical and soft skills across areas of my work. My peers empower me to challenge myself to grow as a professional.”
• “NERA offers substantial opportunities for both formal and informal training. Much of the learning takes place on the job, and regular (daily) feedback is par for the course. The promotion process is clear at a junior level, but suffers from a lack of ability to jump from the junior to senior (manager) level.”
• “The thing I appreciate most about NERA is that seniors want to help prepare you for your next steps. At a lot of firms, I have gathered that it is common to be secretive about exit plans in fear of being devalued as an employee, especially if you plan to leave the firm soon. At NERA, I have found that seniors are always excited to talk about next steps and can be amazing resources in navigating big career decisions or the decision to go back to school. This may be linked to the nature of my firm's promotion structure (i.e., you can't stay for a long time without getting a higher degree, so there is no expectation that you'll stay with the company for 5+ years for example after joining as an entry-level employee).”

Compensation

• “Base salary tends to be a bit low, but there is high bonus potential.”
• “Bonuses are a formula based on your profitability. This is good and bad.”
• “I believe the firm makes it a priority to stay competitive with its compensation packages and salaries. I am unaware of the salary progression as someone progresses through the career path.”
• “I think initial base salaries are competitive and they do a good job of adjusting to cost of living increases.”
• “We get paid very well.  My total pay has more than doubled since I started 5 years ago.”

Community Engagement

• “Firm is very ethnically diverse, with many junior employees coming from an international background. Diversity with respect to women is high at junior levels, but weakens with each step in seniority.”
• “I am only able to judge what is apparent. There are many women in leadership roles and the firm is very ethnically diverse. No idea who falls under LGBTQ+ or veterans.”
• “I feel that my work environment is incredibly diverse and the efforts are apparent.”
• “The company has good diversity, especially among senior staff.”

Business Outlook

• “Best: collegiality and work quality and depth of staff. Worst: need more good hires.”
• “Compared to other consulting firms in our industry, I feel that we lack proper IT support, especially the ability to work with large data.”
• “I think NERA is well equipped for the future given its strong standing in the major areas of Economic Consulting, the firm’s brand recognition and its relationship with Oliver Wyman are assets. Although I believe even without the benefits of these assets, the firm’s culture and talent make it competitive regardless of its brand or affiliations.”
• “NERA is at the top of its field in economic consulting and offers higher quality outputs than any competitor I have seen. Economic consulting tends to be ‘recession proof,’ leaving me with a sense of confidence regarding the firm's future.”
• “Very dependent on mergers, acquisitions, and litigation. It is difficult to influence base demand for services. When there is activity, we are often retained.”

Hiring Process

• “I felt the interview process was very smooth and worked well. The recruiter I was working with was prompt and transparent.”
• “I think the firm is looking for students with relevant technical background, experience with research, and genuine intellectual curiosity.”
• “NERA offered the most positive interview experience out of all economic consulting firms I applied to. All interviewers were friendly and relaxed. The writing sample they requested helped guide our conversations about economics in a direction that focused on my experience and what I brought to the table as a candidate. The recruiting team was always quick to respond, and the turnaround time between my screening interview and when I received my offer was less than 2 weeks. NERA seeks candidates who understand basic econometric frameworks, who have experience working with data and a desire to refine their data analysis coding skills, and who are easy to work with in a team setting.”
• “The firm's callback process is extremely timely! I believe candidates typically hear back in the first couple weeks if they have moved on to the next round of interviews.”
• “[Ideal candidate is] Thoughtful, good at listening and internalizing goals, eager to learn, supportive, confident, willingness to expand beyond your comfort zone of abilities, excited to work within a team.”

Interview Questions

• “Can you explain an economic concept of your choice to me? (And when brought up by me first, various economic concepts).”
• “Could you explain your regression analysis research project?”
• "Discuss a time you worked with a team and things went poorly."
• "Explain why you want to work in economic consulting"
• “What is your experience working with data? Walk me through a model you've built. Describe your experience working in teams. Given X model, what mode of data visualization would be best to demonstrate results? Given X regression model, what signage would we want to see on coefficient Y if results are favorable for our client?”