Key Responsibilities and Required Skills for a NERA Consultant (Economic Consulting)

🎯 Role Definition

As a NERA Consultant, you will be at the forefront of applying economic theory and quantitative methods to real-world problems. You will work in project-based teams to support expert testimony and provide critical analysis for law firms, corporations, and government agencies involved in complex litigation and regulatory proceedings. This position demands a unique blend of analytical rigor, creative problem-solving, and clear communication to distill complex economic concepts into compelling, defensible arguments for a non-technical audience. You will be a key player in shaping the outcomes of high-profile cases across practice areas like Antitrust, Securities, Intellectual Property, and Mass Torts.

📈 Career Progression

Typical Career Path

Entry Point From:

Top-tier undergraduate or graduate programs (Economics, Finance, Statistics)
Academic research or post-doctoral positions
Other economic or management consulting firms
Quantitative roles in finance or technology sectors

Advancement To:

Senior Consultant / Project Manager
Principal / Associate Director
Managing Director / Vice President / Partner

Lateral Moves:

Corporate Strategy or Corporate Finance
Data Science or Quantitative Analysis roles in tech or finance
Investment Banking, Private Equity, or Venture Capital

Core Responsibilities

Primary Functions

Conceptualize, build, and maintain complex econometric and financial models to estimate economic damages, assess market impact, or perform asset valuations.
Conduct sophisticated statistical and econometric analyses on large, often unstructured, datasets using tools like Stata, R, Python, or SAS.
Support senior experts in preparing for depositions and trial testimony by providing robust analytical support, creating demonstratives, and drafting responses to opposing expert reports.
Author detailed sections of expert reports, white papers, and client presentations that clearly articulate economic theories, analytical methodologies, and research findings.
Perform rigorous literature reviews of academic and industry research to ground case strategy and analytical approaches in established economic principles.
Analyze complex issues related to class certification, liability, and damages in securities fraud, antitrust, and mass tort litigations.
Evaluate the competitive effects of proposed mergers and acquisitions, and analyze market definition, market power, and pricing behavior in antitrust cases.
Manage and ensure the integrity of vast datasets, including cleaning, merging, and structuring data for advanced analysis and modeling.
Conduct detailed valuation of securities, businesses, intellectual property (patents, trademarks, copyrights), and other complex financial instruments.
Critically review and rebut the analyses and reports submitted by opposing experts, identifying logical flaws, data inaccuracies, and methodological weaknesses.
Manage day-to-day project workflows, including delegating tasks to junior analysts, monitoring progress against deadlines, and ensuring the quality control of all team work products.
Communicate directly with clients and legal counsel to present interim findings, explain complex analytical results, and refine project strategy.
Develop and implement quantitative survey instruments, analyze survey data, and interpret results for litigation or marketing-related projects.
Research and analyze industry-specific regulatory frameworks to assess their economic impact on market participants and competitive landscapes.
Prepare clear and persuasive charts, graphs, and other visual aids (demonstratives) to effectively communicate complex analyses in legal and business settings.
Assist in the development of case strategy by applying economic theory to the specific facts and legal questions of a matter.
Mentor, train, and oversee the work of junior staff, including Research Associates and Analysts, fostering their professional development.
Participate in business development activities by contributing to proposals, creating pitch materials, and identifying new client opportunities.
Perform event studies and other financial-economic analyses to assess materiality and causation in securities litigation and regulatory investigations.
Calculate economic damages related to patent infringement, breach of contract, business interruption, and other commercial disputes.
Ensure all work product is meticulously documented and replicable to withstand intense scrutiny from opposing counsel and experts.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis from senior leadership and clients.
Contribute to the organization's knowledge base by creating internal training materials and presenting on new analytical techniques.
Collaborate with business units to translate data needs into engineering requirements for our data platform teams.
Participate in sprint planning and agile ceremonies for projects managed with a more technical, software-development-like approach.

Required Skills & Competencies

Hard Skills (Technical)

Econometric & Statistical Modeling: Advanced proficiency in applied econometrics, including regression analysis, time series analysis, and panel data methods.
Statistical Software: Mastery of at least one major statistical package, such as Stata (highly preferred), R, Python (with pandas, statsmodels), or SAS.
Data Management & Manipulation: Ability to manage, process, and analyze large and complex datasets; proficiency in SQL is a strong plus.
Financial & Economic Analysis: Strong understanding of corporate finance, asset valuation, microeconomic theory, and industrial organization.
Microsoft Office Suite: Expert-level skills in Excel for data analysis and financial modeling, and in PowerPoint for creating compelling presentations and reports.
Quantitative Problem Solving: A demonstrated ability to apply quantitative reasoning and analytical frameworks to unstructured business and legal problems.
Valuation Techniques: Experience with various valuation methodologies, including discounted cash flow (DCF), comparable company analysis, and real options analysis.
Event Study Analysis: Familiarity with conducting event studies to measure the impact of new information on security prices.
Data Visualization: Skill in using tools (like ggplot2, matplotlib, or Tableau) to create clear and impactful visualizations of complex data.
Research Acumen: Ability to efficiently search, synthesize, and critique academic and financial literature from sources like CRSP, Compustat, Bloomberg, and academic journals.

Soft Skills

Exceptional Communication: Ability to explain highly complex technical concepts and results clearly and concisely to non-experts, both verbally and in writing.
Attention to Detail: Meticulous and thorough approach to all tasks, ensuring accuracy and quality in high-stakes environments.
Critical Thinking: Proactive and creative problem-solving skills with a high degree of intellectual curiosity.
Time Management & Resilience: Ability to work effectively under pressure, manage multiple competing priorities, and meet tight deadlines without sacrificing quality.
Teamwork & Collaboration: A collaborative spirit with the ability to work effectively in a team-oriented, project-based environment.
Project Management: Strong organizational skills to manage project timelines, deliverables, and junior team members.
Client Presence: Poise and professionalism in client-facing interactions.
Ownership & Accountability: A strong sense of personal responsibility for the quality and timeliness of one's work.

Education & Experience

Educational Background

Minimum Education:

A Bachelor's degree in a quantitative or analytical discipline with an outstanding academic record.

Preferred Education:

An advanced degree (Master's or PhD) in Economics, Finance, Statistics, or a related quantitative field is strongly preferred and often required for advancement.

Relevant Fields of Study:

Economics (especially Microeconomics, Econometrics, Industrial Organization)
Finance (especially Corporate Finance, Asset Pricing)
Statistics, Mathematics, Computer Science

Experience Requirements

Typical Experience Range:

0-3 years for Analyst/Associate roles; 3-7+ years of relevant experience for Consultant/Senior Consultant positions.

Preferred:

Prior experience in economic consulting, forensic accounting, academic research, or a related analytical field is highly desirable. Direct experience supporting expert witness testimony in a litigation context is a significant advantage.