Economic Consulting Recruiting Info
Hello,
I am a sophomore at a target majoring in economics, and I've recently taken an interest in economic consulting as a potential field I want to pursue a career in after graduation.
The reason why I'm making this post is that, although I know that there is a lot of overlap between the recruiting process for economic consulting and fields like IB or management consulting, I also recognize that it is a unique and relatively niche field. From what I've gathered so far, it seems that top firms in the space like Cornerstone, AG, and NERA, value candidates with highly quantitative coursework, high GPAs, and past research experience. If anyone who has experience in this field, or is familiar with its recruiting process in any other way, would be willing to share some more info on its recruiting process, and specifically what it looks for in applicants, I would greatly appreciate it!
Thanks
Hello!
Based on the most helpful WSO content, you're right in noting that economic consulting firms place a high value on quantitative skills, strong academic records, and relevant research experience. Here’s a breakdown of what top economic consulting firms typically look for in applicants:
Quantitative Coursework and High GPA: Firms like Cornerstone, AG, and NERA prioritize candidates who have a strong background in economics, supplemented by courses in mathematics and statistics. A high GPA, particularly in these courses, is crucial as it demonstrates your ability to handle complex quantitative problems.
Research Experience: Having experience in research, such as writing a senior thesis or working as a research assistant, is highly valued. This experience is indicative of your ability to manage data, perform in-depth analysis, and engage with academic literature—all skills that are directly applicable to the work done in economic consulting.
Internships: Internships in consulting, banking, or any roles that involve data analysis can bolster your application. These experiences show your practical ability to apply your quantitative and analytical skills in a professional setting.
Personality and Fit: During the recruitment process, especially in interviews, firms assess whether candidates are genuinely interested in economic consulting as opposed to management consulting or investment banking. It’s important to articulate clearly why you are drawn to economic consulting specifically.
Recruiting Season: Typically, recruiting for full-time analyst positions in economic consulting starts in the early fall, similar to banking and consulting. However, timelines might extend slightly later for smaller firms.
Prestige of Undergrad Institution: While it can be a factor, many firms are more interested in your personal academic achievements and experiences. Demonstrating your capability through your GPA, coursework, and research can sometimes offset not coming from a highly prestigious institution.
To prepare, focus on excelling in your quantitative courses, seek out research opportunities, and consider internships that will allow you to hone relevant skills. Networking with alumni or professionals in the field can also provide valuable insights and potentially aid in securing interviews.
Good luck with your journey into economic consulting!
Sources: Economic Consulting Q&A - Past experience at major firms, Economic Consulting Q&A - Past experience at major firms
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