The Scoop

Since raising capital with the public offering, the firm has made aggressive expansion moves. In June 1998, CRA opened new offices in Toronto and Los Angeles, and opened an office in Mexico during the first quarter of 2000. CRA has also been gradually snapping up other consultancies: in 1998, the firm acquired the Tilden Group, a California-based consulting firm specializing in economic analysis for telecommunications, antitrust and intellectual property, litigation, public policy design, and business strategy development. In 1999, Charles River acquired FinEcon, a private consulting firm specializing in financial, economic, and management consulting in business and commercial litigation. Los Angeles-based FinEcon enhances CRA's West Coast presence. The acquisitions are symbolic of the firm's solid financial growth - revenues for fiscal year 1999 increased nearly 40 percent, to $74 million.

Getting Hired

You can learn more information about hiring at the Career Opportunities section of the firm's web site (www.crai.com). The firm offers a list of frequently asked questions about working at CRA, a collection of analyst profiles, and an overview of the recruiting process for junior and senior staff positions, as well as contact information for both.

To fill its analyst positions, Charles River recruits undergraduates from top colleges and universities, college consortia, and campus resume referrals. (The top five schools for undergraduate recruiting in 1999 were, in order, Bowdoin, Brown, Harvard, MIT, and Washington & Lee.) CRA also accepts direct applications. The firm encourages applications from finance, economics, and engineering majors, though CRA encourages candidates from any major who are analytical problem solvers with research experience to apply. The firm does not recruit on-campus for MBA candidates, but invites them to submit write-in applications. Nearly half of CRA's professional-level employees hold advanced degrees - the firm's associates typically hold Masters degrees in economics, engineering, or computer technology. Higher-level professionals, insiders say, "are economists with PhDs - many of them are former college professors who didn't get tenure, or wanted more money."

The recruitment process usually consists of interviews on campus followed by "second-round interviews in the office with five or six people." Other candidates may be screened by phone, then invited to the firm to meet with managers. Insiders say "you'll meet with the people who will be your managers, as well as with people in the position you're applying for." The firm looks for candidates with "strong quantitative and communications skills." Case questions "are not a standard part of the interviewing process" for candidates who are interested in economic consulting, reports a contact, though "some people use them from time to time." Insiders also tell us that applicants should make sure of their commitment to economic consulting - "it's much more analytical and quantitative than management consulting." Another source advises: "Make sure you learn about the firm and want to work here."

Our Survey Says

Back to school

Consultants and research associates at CRA enjoy the firm's "collegial" and "academic" culture, calling it "very much like a university." Recent hires like the fact that CRA "is one of the few places where you can use things you learned in school in a professional setting." "The type of analysis we deal with is more sophisticated than what they do in regular management consulting or I-banking," boasts one contact. Some insiders are not so enthralled with the academic environment, however, and call their superiors "a group of old econ PhDs" who are "a bunch of academics fighting for their own turf." Nonetheless, others maintain that though the firm is "a bit on the nerdy side sometimes," it's refreshing to be at a place where "egos are not as much a problem as at many other firms."

Sink? Swim?

CRA implemented a formal training program last year designed to ease the pressure from major projects and introduce new consultants to the firm. The program kicks off with a three and a half day summer orientation for new analysts and continues throughout the year with various seminars on computer programs, presentation skills, and analyst case discussions. Insiders say that despite the new training programs, "there is little hand holding - but if you are pro-active there is little you cannot accomplish." As another source describes it, "From day one they just hand you projects and it's sink or swim." Though some like the challenge, the fact is "there are times when you'll have no idea how to approach a problem." Sources say managers "are as helpful as they can be, but if it's a really busy time, there may not be someone with time to explain things to you."

Most undergraduate recruits stay at CRA for up to three years before going to graduate school, usually to get an MBA, a PhD in economics, or a JD. One contact tells us analysts "have a good track record as far as people getting into good schools." Another source informs us that the "analyst/associate track is designed for college grads who want to work for a couple of years before going back to graduate school." CRA insiders agree that there is very little turnover among senior-level staff.

Gender and ethnic diversity

CRA insiders tell us that the female representation is strong at the lower levels, but tapers off towards the top of the food chain. One insider lamented that she did "not feel in any way empowered by the women that are at the VP, Principal, or SA [Senior Associate] level." CRA is planning on increasing its efforts in hiring more minorities for its research staff in the coming year. That said, our sources were critical of the firm's efforts at recruiting minorities. One insider explains that CRA "doesn't seem to make any efforts to recruit at colleges where minority candidates might be found in significant numbers," while another tells us that "the junior staff reflects the schools at which we predominantly recruit: small liberal arts schools in the Northeast." Another source sums CRA's diversity up thusly: "Lots of international and Asian-American employees; however, few Hispanic or African-American."

Partying like economic rock stars

Insiders laud their co-workers' efforts to maintain a social environment. One insider in CRA's Washington office tells us that "junior staff members go to happy hour twice a week and attend sporting events and concerts together," while one Boston-based research associate explains that "you can always find someone willing to go for drinks during the week." "Our managers," on the other hand, "are economists - generally not the most fun people in the world." "RAs go out together frequently. SAs and above do not," shrugs another insider.

Cheap food, few suits

Consultants at the firm wear "business casual for the most part," which ranges from "totally casual (no T-shirts) to very conservative." "During the week, many people (VPs included) dress casually if they don't have to meet with clients or interact with others much." Consultants in Boston say "our office is in a great location" with a "beautiful" view from the 33rd floor of the John Hancock Tower. Inside, the offices are "very nice and extremely comfortable - without the excess of a law or an accounting firm (e.g. no aquariums)." Another source lauds the "cheap food in the cafeteria." Hours "vary quite a bit, but the median is somewhere in the 55 to 60 range." As at most consulting firms, "there are periods where you will work 100 hours or more per week for several weeks" and times where you will "have nothing to do." Travel is "not bad for analysts. But it gets more intense as you move up the ranks." We also hear that "first year pay is relatively competitive, but after that raises are not impressive and the salary is non-competitive after the second year." Other RAs lament that "there is no monetary incentive to do good work once you have the job since everyone gets the same raise."

Employment Contact

Amy L. Connolly
Recruitment Manager
200 Clarendon Street, T-331
Boston
MA
02116
(617) 425-3000
(617) 425-3112

Products and Services

Economic and business consulting

Key Competitors

Booz-Allen & Hamilton;Boston Consulting Group;Brattle Group;LECG;Lexecon; Mercer Management Consulting;Monitor Company;NERA

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