PwC’s UK Economics team is looking for experienced economists at Manager and Senior Manager grade to join the firm’s expanding practice.
Who we are and what we do
We are one of the UK’s leading economics consultancies, and part of PwC's global network of economists. Our team of c.60 economists and policy specialists work with a wide range of clients, using economic insights to inform strategic choices, guide the development of policy and assess the impact of major investments. In the boardroom, in front of regulators and with policy makers, we develop big, distinctive ideas and important insights that are grounded in robust economic analysis. We are known for our leading-edge analysis and thought leadership, such as our annual Women in Work Index and UK and Global Economic Outlook, which regularly feature in the UK and international media. This provides our people the chance to prepare analysis that matters and influences CEOs, governments and regulators alike.
Our team works on the practical application of economics to develop real-world solutions to important problems - aligned to the purpose and mission of PwC. We work on stand-alone projects and in collaboration with our PwC colleagues across a range of disciplines and sectors, meaning we offer a huge variety of opportunities for our people to apply their expertise in a range of exciting and different contexts. For example, in the last twelve months our team has:
- Assisted Ofwat to protect water consumers, as the regulator’s PR24 Price Review delivery partner.
- Assisted a consortium of drinks producers to make a submission to the CMA under the ‘Green Agreements Guidelines’ on a new scheme to trial refillable packaging in the UK
- Conducted early stage analysis on a number of merger transactions to assess the likelihood of a CMA investigation
- Supported a number of energy networks to ensure they receive adequate funding from the regulator to ensure the continued safe and secure provision of electricity and gas to consumers.
- Supported a large transport infrastructure provider to develop its multi billion business plan and respond to regulatory scrutiny
- Helped a European financial services firm to develop proposals to expand the reach and impacts of sustainable finance.
As well as taking pride in the breadth of the work we deliver and opportunities we offer, we enjoy working as part of a diverse team. Our Economics team comprises people from 12 different countries, speaking 22 languages. As a firm, PwC is committed to building a culture that empowers all of our people to thrive and feel a sense of belonging.
Who we are looking for
We are looking for candidates with a strong background of professional experience, gained in consulting, regulatory authorities, or regulated companies. The successful applicants will need to demonstrate an ability to apply economic theory in real-world contexts. You would ideally also possess a Masters in Economics or equivalent professional experience.
The successful candidates will need to be at ease with applying economic theory and techniques to analyse competition and regulatory issues, and able to demonstrate knowledge and experience of delivering successful projects in or one or more of the following areas:
Competition analysis
- Economic analysis of the competitive effects of mergers and acquisitions
- Economic analysis in the context of market studies and investigations
- Remedies analysis on the impact of divestments and behavioral remedies and undertakings
- Economic analysis of anti-competitive agreements and/or damages quantification
- Economic profitability analysis
Economic regulation
- Design and implementation of regulatory mechanisms
- Incentive design
- Cost benchmarking and cost analysis
- Regulatory finance (including experience of CAPM and WACC)
- Deals-related economic, commercial and regulatory due diligence
- Market analysis
Econometrics
Experience of econometrics – especially microeconometrics – would be valuable.
The ideal candidates will also be able to demonstrate an ability, with appropriate support, to play a role in the expansion of PwC’s competition and economic regulation work.
Whilst the successful candidates will work across a range of industrial sectors, we would be especially interested in candidates with experience in one or more of the following industries:
- from a competition perspective: digital markets, financial services, retail;
- from an economic regulation perspective, sectors such as energy and water
We envisage the role to be based in our London office, but we are also open to discussions with regards to being based in one of our regional offices (e.g. Belfast, Manchester, Edinburgh). We have flexible working arrangements for our staff and a hybrid working model with time spread across our offices, client sites and home working. We expect our staff to be on-office or client site approximately 3 days per week subject to client requirements.
What your days will look like:
- Managing projects in the economic regulation or competition economics space
- Applying specialist knowledge in economic regulation or competition economics within larger consultancy assignments (eg deals, due diligence)
- Managing junior staff on projects.
- Coaching and mentoring junior staff and upskilling them to aid their progression.
- Drafting reports and submissions based on client commissions.
- Running and supporting the provision of training sessions in competition economics for the benefit of the wider economics team team.
- Reviewing work in line with PwC standards to ensure quality delivery for clients.
This role is for you if:
- You have demonstrable professional experience in competition and/or regulatory economics, gained from working in consulting, regulatory bodies, or regulated companies.
- Fluency in spoken and written English is a key requirement
- A second language is desirable
- Must possess a Masters in Economics (or an international equivalent) or have equivalent work experience. This includes international candidates who qualify through experience in their home country.
- Experience in using one or more of the following systems such as Alteryx, Stata, R, Matlab, Python to conduct microeconometric analysis is desirable
What you’ll receive from us:
No matter where you may be in your career or personal life, our benefits are designed to add value and support, recognising and rewarding you fairly for your contributions.
We offer a range of benefits including empowered flexibility and a working week split between office, home and client site; private medical cover and 24/7 access to a qualified virtual GP; six volunteering days a year and much more.
