GSE Consulting Day 2010: NERA Economic Consulting


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The Barcelona Graduate School of Economics Consulting Day brings representatives from top consulting firms to recruit BGSE students.

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GSE Consulting Day 2010: NERA Economic Consulting

  1. 1. NERA Economic Consulting Marcelo Rabinovich Economic Analyst Barcelona 26 February 2010
  2. 2. Who is NERA? <ul><li>NERA Economic Consulting is an international consulting firm which gives expert economic advice... </li></ul><ul><ul><li>specialised in the application of Microeconomics… </li></ul></ul><ul><ul><li>for regulatory, competition, litigation and strategy problems … </li></ul></ul><ul><ul><li>to corporations, regulators and international agencies. </li></ul></ul><ul><li>Why we are different from other consulting firms </li></ul><ul><ul><li>We only work on projects in which Microeconomics knowledge is valuable </li></ul></ul><ul><ul><li>We apply economic theory, so we are confident with our results </li></ul></ul><ul><ul><li>We prepare reports (not presentations) </li></ul></ul><ul><ul><li>We only work in our own office (not at the client’s) </li></ul></ul>
  3. 3. Where do we come from? <ul><li>NERA is a division of the Oliver Wyman Group ($1,200 M in turnover), which in turn is a subsidiary of MMC ($12,000 M). </li></ul>Marsh Guy Carpenter Kroll Oliver Wyman Group Mercer HR MMC INSURANCE RISK CONSULTING Oliver Wyman NERA Lippincott
  4. 4. Where are we? Our global team of more than 600 professionals operates in more than 20 offices across North America, Europe, and Asia Pacific. Sydney Tokyo Chicago Denver San Francisco Los Angeles Boston New York City Philadelphia Washington, DC White Plains Ithaca Madrid Rome Frankfurt London Brussels Paris Melbourne Shanghai Auckland Beijing Wellington Geneva Toronto
  5. 5. What do we do? <ul><li>Regulation and Industrial Organization </li></ul><ul><ul><li>How to design electricity markets? </li></ul></ul><ul><ul><li>How to remunerate a regulated monopoly? </li></ul></ul><ul><ul><li>How to design an auction? </li></ul></ul><ul><li>Competition Policy </li></ul><ul><ul><li>What is the impact of mergers and acquisitions on competition? </li></ul></ul><ul><ul><li>What is competitive behaviour? </li></ul></ul><ul><ul><li>Is anyone behaving anti competitively? </li></ul></ul><ul><li>Strategy </li></ul><ul><ul><li>Long run market behaviour </li></ul></ul><ul><ul><li>Investment option values </li></ul></ul><ul><ul><li>Optimal hedge of forward positions </li></ul></ul>
  6. 6. What do we do? <ul><li>Litigation and arbitrations </li></ul><ul><ul><li>What is the value of the damage caused? </li></ul></ul><ul><ul><li>Was the market distorted? </li></ul></ul><ul><ul><li>Who should bear the cost of unforeseen events in a contract? </li></ul></ul><ul><li>Transfer Pricing </li></ul><ul><ul><li>What is the contribution of the activities of a firm to its overall value? </li></ul></ul><ul><ul><li>How should each activity be remunerated given its contribution to value? </li></ul></ul><ul><ul><li>What is the value of a firm’s patents and brand names? </li></ul></ul><ul><li>Intellectual Property </li></ul><ul><ul><li>What value has a creation for radio and TV shows? And for films? </li></ul></ul><ul><ul><li>What is the rationale behind the behaviour of collecting societies ? </li></ul></ul><ul><ul><li>How to remunerate creators for the private copying of their works? </li></ul></ul>
  7. 7. Who are our clients? Companies Law firms International Agencies Regulators
  8. 8. The keys of NERA’s success <ul><li>A team of highly qualified professionals </li></ul><ul><li>A network of consultants with worldwide expertise </li></ul><ul><li>More than 45 years experience </li></ul><ul><li>Rigorous application of economic analysis </li></ul><ul><li>A commitment to quality </li></ul><ul><li>Reputation for independence </li></ul>
  9. 9. How are we organised? <ul><li>Sectors </li></ul><ul><ul><li>Electricity </li></ul></ul><ul><ul><li>Natural gas </li></ul></ul><ul><ul><li>Telecommunications </li></ul></ul><ul><ul><li>Transport </li></ul></ul><ul><ul><li>Water </li></ul></ul><ul><ul><li>Health </li></ul></ul><ul><ul><li>Finance </li></ul></ul><ul><ul><li>Labour </li></ul></ul><ul><li>Specialisations </li></ul><ul><ul><li>Competition Policy </li></ul></ul><ul><ul><li>Market design </li></ul></ul><ul><ul><li>Contracts design </li></ul></ul><ul><ul><li>Tariffs design </li></ul></ul><ul><ul><li>Auctions design and administration </li></ul></ul><ul><ul><li>Transfer pricing </li></ul></ul><ul><ul><li>Intellectual Property </li></ul></ul><ul><ul><li>Damages valuation </li></ul></ul><ul><li>Teams are organised by sectors and specialisations , which support each other. </li></ul>
  10. 10. What are we looking for? <ul><li>Academic requirements </li></ul><ul><ul><li>Master’s or PhD degree in Economics, preferably focused on Microeconomics or Industrial Organisation </li></ul></ul><ul><ul><li>Fluent in (both written and spoken) English </li></ul></ul><ul><ul><li>Knowledge of quantitative tools </li></ul></ul><ul><li>Personal requirements </li></ul><ul><ul><li>Interested in Microeconomics </li></ul></ul><ul><ul><li>Intellectual curiosity and willingness to learn </li></ul></ul><ul><ul><li>Mental agility, creativity and intellectual rigour </li></ul></ul><ul><ul><li>Team workers </li></ul></ul>
  11. 11. Careers at NERA Researcher Economic Analyst Consultant Senior Consultant Associate Director Director Gathers data, reviews academic literature and regulations Manages and analyses information and databases Leads specific analysis and writes parts of reports Leads projects, coordinates juniors’ work, writes reports, deals with clients Determines the strategy in projects and manages clients and teams Master’s in Economics PhD or Master’s with relevant experience
  12. 12. What do we offer? <ul><li>The usual… </li></ul><ul><ul><li>Competitive salary package </li></ul></ul><ul><ul><li>Good work environment </li></ul></ul><ul><ul><li>Merit-based promotion </li></ul></ul><ul><li>But also… </li></ul><ul><ul><li>Client-oriented applied-economics work </li></ul></ul><ul><ul><li>Being at the edge of the regulatory and industrial policy developments </li></ul></ul><ul><ul><li>Possibility of becoming a nationally and internationally recognised expert </li></ul></ul>
  13. 13. Want to know more?
  14. 14. Contact us Marcelo Rabinovich Economic Analyst Madrid +34 91 212 6400 [email_address] © Copyright 2008 National Economic Research Associates, Inc. All rights reserved. Amaia Grijalbo Recruitment Madrid +34 91 212 6400 [email_address] [email_address]