Could you tell us more about your educational background? How did you decide on a career in economic consulting, and what initially attracted you to this field?
During graduate school, I studied a lot of theoretical economics, which made me curious about its real-world applications. Consulting intrigued me because it involves using economics to solve real issues, with clients actually paying for this expertise. My experience with teaching assistantships, research, and independent projects also helped shape my background, which economic consulting firms highly value.
Could you describe some of the challenges you faced in transitioning from academia to consulting?
The biggest shift is moving away from academic curiosity to focusing on what clients need. Sometimes, client-driven projects may not be as “interesting” as academic research. Another challenge is limited data – we often work with whatever data clients provide, which might not always be ideal. Additionally, not all the theoretical knowledge I learned in school is frequently used in consulting. I’ve also had to learn new skills, especially in legal knowledge, since economic consulting often intersects with law.
Could you describe a typical day in your role and the work environment at Competition Dynamics?
I’m currently in my second year as an analyst. Most of my work revolves around supporting our expert in IP litigation, like helping with expert reports for damage calculations in IP infringement cases. This includes summarizing documents, cleaning datasets, creating exhibits, and fact-checking reports. Being a small firm, we’re all close-knit, which makes the work more collaborative compared to some larger firms.
For students interested in economic consulting, what technical skills and analytical tools would you recommend?
Data handling skills are essential – I use Stata, R and Excel regularly for data analysis and constructing exhibits. Most economics students are already familiar with these tools through econometrics classes, so it aligns well with what’s typically taught.
Beyond technical skills, what soft skills have proven essential in your current role?
Attention to detail is critical. We work in a legal context, so even small errors can impact our credibility. Teamwork is also crucial, especially on large projects, where multiple analysts and project managers must coordinate to ensure we meet deadlines.
For students considering economic consulting, what advice would you have wished someone had given you?
I’d emphasize not to stress too much about specific skills – companies generally provide training. But, it’s helpful to have a solid foundation in econometrics and some independent research experience. Those are key factors consulting firms look for.
How did you find your current role? Did you use any Yale resources?
I actually found my company through Yale’s career fair, which they attended since my boss is a Yale graduate. I also used the Office of Career Strategy, scheduling sessions to review my CV and prepare for interviews. The guidance I received, especially from Hyun Ja with experience in economic consulting, was invaluable.
Given the current economic climate, do you have any additional advice for students’ job hunting now?
It’s a challenging job market, but keep applying widely and don’t focus only on big names. Persistence is key. Also, don’t let rejections affect your confidence; companies may have limited openings or various other reasons for not hiring, which aren’t a reflection of your abilities.
