Economics Consulting career opportunities

Transcription

1 Economics Consulting career opportunities The opportunity of a lifetime

2 Your career is just that; yours. You choose it. You live it. You make it happen. To get the best from it, you need the best opportunities. That s why opportunities are at the heart of a career with us. Opportunities for you to grow as an individual, to build lasting relationships and make an impact in a place where people, quality and value mean everything. 1st 3 In the boardroom, in front of regulators or in court, coming up with big, distinctive ideas and key insights to help our clients, is at the heart of what we do. If you have what it takes to tackle the toughest issues for some of the world s most ambitious organisations, you ll never run out of opportunities to develop here. Join us in and you ll get to work closely with the best in industry, finance, government and academia, bringing fresh insights to the problems our clients face. Whatever their goals, you ll help them get the results they need while building skills, knowledge and confidence that will stay with you for life. Students voted us the number one Graduate Employer in The Times Top 100 Graduate Employers survey for the last ten years. Out of the Big Four, we ranked highest in The Sunday Times Best Big Companies to Work For UK survey. And we were ranked first across all sectors for providing our people with opportunities to learn and grow in their career. We ve been named as one of The Times Top 50 Employers for Women for the last three years in a row. Take the opportunity of a lifetime We like to give our people lots of visibility and exposure to the best opportunities. That s why everyone you see in this brochure works with us. Economics a closer look Examples of our work Meet our people What we offer Meet our people What we look for How to apply

3 A closer look at We ve worked with over 200 clients around the world in the past year alone Economics is the science of business and every day it shapes the world we live in, cutting across the most pressing issues facing businesses, investors, regulators and governments. In the midst of the big tides shaping the global economy, our clients rely on us to help them solve their most difficult problems anything from developing a new strategy to facing a regulator or engaging in high stakes litigation. Our client base spans the most senior levels of the private and public sectors in the UK and overseas. And we use the best evidence and insights available to make a distinctive and lasting impact. We pride ourselves on being a meritocratic, sharp, intellectual, fair and supportive team. Most of all, we love what we do, and we have fun doing it. We all help shape our practice, and we foster a sense of entrepreneurship everybody has a role in identifying and capitalising on new business development opportunities and we see that as an integral part of our work. We re one of the UK s leading economics consultancies and one of 12 economics practices in the PwC global network. Many of us have direct experience of working within private and public sector clients. We come from a diverse range of backgrounds from over 20 countries, speaking 20 languages. Our clients trust us and value us as advisers. A high-performing culture is critical to our success, and our position as a trusted graduate employer reflects our commitment to career development and your work-life balance. As a graduate economist, you ll be able to work across all three of our key areas: 1. Disputes and investigations We work alongside high-profile clients and legal counsel to develop sophisticated economic analysis that supports competition and State Aid investigations, and commercial disputes. We help clients establish their case with competition authorities in a clear and constructive way, putting forward arguments and evidence to inform the debate. Our expertise includes: assessing the risks to competition and efficiencies, competitive constraints and barriers to entry caused by mergers or in particular markets using sophisticated econometric and survey techniques to establish market definition preparing restructuring plans and market studies for cases in which failing firms need urgent rescue or restructuring aid preparing and providing expert testimony before competition authorities. 2. Market reform We advise governments, regulators, international development organisations and other agencies on the problem and the solution such as a new market design or delivery model. We advise the companies affected by regulatory and policy change so they can prepare, adapt and benefit. We: develop solutions collecting evidence, appraising options, conducting cost-benefit analysis put solutions into action helping organisations respond to opportunities and threats from reform test success and making it stick evaluating success, and reforming policy and regulation. 3. Foundations for growth We provide insights on the most important strategic, commercial and operational questions faced by organisations aiming to grow, especially in challenging economic environments. We: find growth opportunities in a low-growth environment by identifying profitable emerging market opportunities build scenarios to understand the impact of technology and social or demographic change on the market assess the total impact across economic, social, environmental and tax dimensions of growth opportunities. 3

4 Examples of our work Advising BSkyB on Ofcom s pay TV market investigation We conducted a study of how pay TV services might affect consumers for British Sky Broadcasting Limited. We looked at prices, consumer choice and innovation to assess and compare the outcomes for consumers across 15 European countries. We worked closely with colleagues across the business and with experts in the entertainment and media sectors of each country to develop a content questionnaire. This helped us establish what content in each country is considered important and the channels that carry this content. BSkyB submitted our report to Ofcom in response to Ofcom s pay TV market investigation. Healthcare reform with Monitor We were asked by Monitor, the independent sector regulator for healthcare, to undertake an evaluation of the current reimbursement system for NHS-funded care such as Payment by Results (PbR), block contracts and local tariffs. Reimbursement mechanisms are an important part of delivering quality and efficiency improvements in healthcare. In , five percent of the UK s GDP ( 66 billion) was spent on reimbursing providers for NHS-funded care. We assessed past performance against three elements information, incentives and compliance and considered whether the systems were fit for purpose given future reforms and demands. Our evaluation found that the information underpinning the reimbursement system needed significant improvement. We found unexplained variations in the unit costs for the same services between providers. Our analysis supported Monitor s push for better quality and more detailed information to make reimbursement for NHS services more closely orientated to costs and to drive improvements. We are also currently working with Monitor to further develop reforms to the costing regime to improve the quality, consistency and comparability of data. World cities comparison We were asked by one of the world s fastest growing cities what policies it needed to pursue to become a true world city. We conducted a pioneering study that informed the client s long-term development strategy and helped them fulfil their ultimate ambition of becoming a world city. The centrepiece of the analysis was a benchmarking exercise, which projected the city s relative status globally against nine comparator cities from This exercise was supported by econometric Jer analysis of the drivers of world city status, a sector composition analysis, and the creation of a world city vision for the future. The latter was a collaborative piece with the academic community that involved PwC undertaking a series of interviews with leading experts in the field of economic geography. We developed a set of high-level policy recommendations based on our gap analysis which were later incorporated in the government s white paper for sustainable population and economic growth policies. 5

5 I studied Economics in both my undergraduate and masters degrees so I was keen to apply my knowledge of economic theory in a commercial and practical context which is why I was attracted to PwC. As an Associate on the Economics graduate programme, I ve been given the opportunity to explore different types of work across different sectors through a rotation scheme. I ve already worked across a range of fields from Competition Economics which I experienced while doing a Summer Internship with PwC to Macroeconomics, Financial Economics and, most recently, Development Economics. My project team is currently leading the way with developing an evaluation framework for education interventions all around the world. It s something that I m extremely passionate about and it s great that I get to do something that I love every day. When I left university, I initially worked in the public sector. But with fond memories of a Summer Internship back in 2008, I realised I d be far better suited to a career with PwC. My internship was with the team in Assurance, but now I m in the Economics practice, dealing mainly with health sector clients. I love the work I m doing, particularly the interaction with clients and the fact that it s mainly project-based which means there s plenty of variety. There are also great opportunities for career progression here at PwC I ve been promoted twice in less than two years. At the moment, I m really enjoying my work in healthcare, but looking further ahead I will be spending the next couple of years working in our Japanese office. PwC has a really strong English-speaking team out there that focuses on modelling, a skill I m keen to further develop. Lin Associate Joined 2012 MSc Economics at the London School of Economics and Political Science Oliver Manager Joined 2011 BSc Economics at University College London 7

6 What we offer Opportunity Our people generate their own opportunities, and reward is based on merit. In everything we do, the focus is on impact rather than time served. We don t believe in face-time for the sake of it. Diverse culture Along with our clients, we believe that the best teams are diverse. That s why we want the best people to shine through whatever their background. We think carefully about how we recruit so we bring diversity of perspective to everything we do. Mobility You can expect to progress to more senior levels, work in different areas of the practice and go on secondments to clients. Our team currently includes a secondee from our Australian office, and we ve sent secondees to our Brazilian and Australian offices. Work-life balance Our clients expect a high performance approach. But that doesn t mean you can t have a healthy balance in your life; you ll just need to prioritise your time. We support flexible working whether on client site, in the office or at home as well as part-time working and career breaks. Training & Development We ll give you support to learn and improve every day including hands-on coaching from more experienced colleagues, a dedicated mentoring scheme, regular lunch and learn sessions on projects and methods, and seminars with academic and client speakers. We also offer help to pursue post-graduate qualifications. Reward We offer a very competitive reward package. This includes base pay, a bonus scheme and flexible benefits. And it includes the potential to progress to more senior grades plus the satisfaction of working on exciting issues with great colleagues. 9

7 PwC offers great opportunities for career progression. I first joined PwC in 2009 for a Summer Internship, returned in 2010 as an Associate, and was promoted to Senior Associate a year ago. Through these various roles, I ve seen myself progress from analysing data and conducting desk research to coaching new graduates and leading projects. Whether developing fair market values for a global pharmaceutical firm or helping an insurer through an OFT inquiry, I like the diversity of work offered at PwC. The amount of industry knowledge you pick up in a short space of time is amazing. I currently focus on Competition Economics, helping regulators and organisations solve complex problems. Over the last year, I ve been supporting a client through a market investigation. Given the long-term nature of the project, this has been an excellent opportunity to gain really detailed expertise and build lasting client relationships. From football on Thursdays to rockclimbing at the nearby indoor centre, PwC also offers great opportunities to develop outside the office. I joined as a graduate in Sydney, initially because of the breadth of opportunities PwC could offer. Now, looking back at my eight years with PwC, it s easy to see why I ve stayed so long. I ve worked for PwC in Australia, India and now the UK (I m currently on a two-year secondment in the Economics and Policy team in London). I ve also done shorter-term projects with clients in New Zealand and Thailand. My work relates to monopoly markets. I work with businesses and economic regulators on issues such as pricing, competition and market reform. For example, one electricity client wanted to know whether to invest in developing innovative technology to help make its business more cost efficient. Would the investment be sound? And how would electricity prices be affected if the technology succeeded or failed? The most interesting part of my job is seeing how markets operate in different countries and the variety of the clients I get to work with. Anmol Senior Associate Joined 2010 BSc Mathematics and Economics at the London School of Economics Hettie Senior Consultant Joined 2013 BEcon (Hons) at University of Queensland, LLB (Hons) at University of Queensland 11

8 What we look for How to apply Your job description Early involvement in a project team means you ll contribute ideas and analysis to high-profile projects. Before long, you ll be meeting clients face-to-face, tackling their issues first-hand and helping us win business. You ll collaborate with a wide range of professionals at all levels within PwC, as well as leading academics who have a range of financial, technical and industry expertise. Exposure to everything from specialised economics techniques such as econometric modelling to more general consulting techniques such as pitching to clients will allow you to develop a balanced and highly sought after array of skills. Our people make us stand out, so we choose the best and invest heavily in them. You ll need a 2:1 or above in an Economics-related degree, plus at least a 340 UCAS tariff or equivalent. In addition to a strong academic track record, you ll need to show us you have the following skills all the way through the assessment process: flexibility handle changing priorities and workloads positively ability to build relationships work well with colleagues and clients courage and integrity be up for a challenge and do the right thing by clients and colleagues passion for business quickly grasp our clients issues and opportunities and be passionate about helping them succeed great communication skills listen, persuade and put your point across. There are many ways you may have developed these skills through study, voluntary work, sport, previous work experience, positions of responsibility or travel. Think about what you ve done and what you ve learned from it. The more examples you have, the more you ll stand out. Bringing out the best in you Throughout your career, you ll be supported by the best in learning and development from specialist seminars, courses and toolkits to informal lunch and learn sessions hosted by your peers. Your team mates will show you the ropes, and a people manager will work with you to guide your career and support you in your learning. And at every stage, progression is based on merit. What you need: 2:1 in an Economics-related degree. At least a 340 UCAS tariff or equivalent. 1. Research At interview, you ll need to explain why you ve chosen Economics Consulting and what you can bring to it. So visit and start exploring. 2. Get online Decide on what skills you can bring to and register online. We ll then ask you to take some online tests. You will get the results within 48 hours. Do well and we ll invite you to the next stage of the process. 3. First interview This will be a face-to-face panel interview and will explore your understanding of our business and how carefully you ve thought about your career choice. Think about how your experiences have helped you demonstrate the competencies we re looking for. You can find these on our website. The interview will also test your ability to apply your economic knowledge on topical issues. 4. Assessment day We ll invite you to this if you have a successful first interview. Lasting half a day, this includes psychometric tests, a group or individual exercise, and a written exercise. 5. Final stage interview Your second and final stage interview will be with a senior member of the team. This is in two parts: a competency-based interview, and a technical economics case study interview. 6. Offer We ll tell you whether we d like to make you an offer as soon after the final stage interview as possible. 7. Pre-employment screening Accept our offer and we ll check your grades and job history, so please make sure everything s correct before you send us your application. We re known for accuracy, so carrying out checks like this protects our reputation. 8. Before you join The support starts as soon as you say yes. So you feel part of PwC well before your first day, we ll invite you onto our onboarding website and Facebook application where you can keep in touch with news, advice and information. You can also network with other students about to join us. 12

9 Meet Career Fairs UCL, Banking and Finance fair: 8-9 October 2013 University of Cambridge, Economics fair: 29 October 2013 University of Oxford, Economics fair: 5 November 2013 Dinners PwC More London office: 15 October 2013 University of Oxford: 31 October 2013 Presentations PwC More London office: 4 October 2013 Please visit our website to see when there are more events. Closing date for graduate applications: 10 November 2013 Closing date for Summer Internships: 13 December /PwCCareersUK /CareersPwC This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors PricewaterhouseCoopers LLP. All rights reserved. In this document, PwC refers to the UK member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see for further details.