Author: Taylor Warfield, Former Bain Manager and interviewer

Last Updated: June 3, 2026

 

The economic consulting career path runs from analyst to partner across five to six levels. You start by cleaning data and running regressions, then move into managing case teams, and eventually lead client relationships or testify as an expert. Total pay climbs from roughly $85,000 at entry to over $400,000 at the top.

 

This guide breaks down every level, the title ladder at firms like NERA and Cornerstone Research, how long each promotion takes, what degrees you need, and where the job leads next. I have coached hundreds of candidates into economic consulting roles and worked alongside these teams as a Bain consultant.

 

But first, a quick heads up:

 

McKinsey, BCG, Bain, and other top firms accept less than 1% of applicants every year. If you want to triple your chances of landing interviews and 8x your chances of passing them, watch my free 40-minute training.

 

What Is the Economic Consulting Career Path?

 

The economic consulting career path is a structured ladder that moves you from junior analyst to senior partner over 12 to 18 years. Each level carries clear responsibilities, a defined promotion window, and a step up in pay. Most firms run an “up or out” model, so you advance on a set timeline or move on.

 

The standard ladder has five to six rungs. The exact titles vary by firm, but the underlying progression is the same.

 

1. Analyst or Research Assistant: data cleaning, regressions, and exhibit building
   
   
2. Senior Analyst or Consultant: owns workstreams and quality-checks junior work
   
   
3. Manager or Senior Consultant: runs case teams and drafts expert reports
   
   
4. Vice President or Principal: manages clients and oversees multiple cases
   
   
5. Director or Partner: sells work, owns client relationships, and testifies as an expert

 

The biggest difference from management consulting is the role of advanced degrees. Many economic consulting firms require a PhD, JD, or MBA to advance past the analyst level. The work is also deeper and more technical, with fewer projects running at once.

 

What Are the Levels in Economic Consulting?

 

Economic consulting has six core levels, each with a typical tenure and a clear jump in responsibility. The table below shows the standard progression along with approximate total compensation. Figures reflect Glassdoor data from 2026 for top-tier firms in major US markets.

 

Level	Typical Tenure	What You Do	Total Pay (2026)
Analyst / Research Assistant	2 to 3 years	Clean data, run regressions, build exhibits	$85K to $115K
Senior Analyst / Consultant	2 to 3 years	Own workstreams, check junior work	$110K to $150K
Manager / Senior Consultant	2 to 3 years	Lead case teams, draft expert reports	$150K to $220K
Vice President / Principal	3 to 4 years	Manage clients, oversee multiple cases	$220K to $350K
Director / Partner	Open-ended	Sell work, own clients, testify	$350K to $600K+

 

Pay at the top firms rivals strategy consulting, especially at the senior end. According to Glassdoor data from 2026, the median total pay for an economic consultant in the US is roughly $170,000, with a range from about $127,000 to $233,000.

 

What Does Each Level Do Day to Day?

 

Your daily work shifts from hands-on analysis to client leadership as you climb. Junior staff spend most of the day in data and code. Senior staff spend most of it on the phone with attorneys, experts, and clients.

 

What Does an Economic Consulting Analyst Do?

 

An analyst spends the day cleaning large datasets, running regressions in Stata, R, or Python, and building charts for expert reports. This is the most technical role on the team. You will also fact-check exhibits and pull supporting documents for the case.

 

Expect 45 to 55 hours per week, with spikes near report deadlines and trial dates. The work can feel repetitive early on. The good news is that the analytical variety grows quickly once you understand the cases.

 

What Does a Manager or Senior Consultant Do?

 

A manager runs the case team, interprets results, and drafts sections of the expert report. You stop building most exhibits yourself and start directing the analysts who do. You also begin working directly with the academic experts and attorneys leading the matter.

 

This is the level where soft skills start to matter as much as technical skill. You manage timelines, review quality, and translate dense analysis into plain language for clients.

 

What Does a Partner or Director Do?

 

A partner sells work, owns client relationships, and oversees multiple engagements at once. Many partners hold PhDs and serve as testifying experts in federal court. At this level, your value is your reputation, your network, and your ability to win cases.

 

Reaching partner can take 12 to 15 years or more. The path is slower than the typical consulting promotion timeline at MBB firms, but the trade-off is a longer runway and less up-or-out pressure at junior levels.

 

How Do Titles Differ Across Top Economic Consulting Firms?

 

The same career path uses different titles at each firm, which trips up candidates during networking. A “consultant” at one firm may sit two levels above a “consultant” at another. Always compare by level, not by title.

 

Level	NERA	Cornerstone Research	Analysis Group	CRA
Entry	Analyst	Analyst	Analyst	Analyst
Post-grad / mid	Consultant	Associate	Associate	Associate
Team lead	Senior Consultant	Manager	Manager	Consulting Associate
Senior	Associate Director	Principal	Vice President	Principal
Top	Managing Director	Senior VP	Managing Principal	Vice President

 

These ladders shift over time, so confirm the current titles on each firm’s careers page before an interview. The entry point is almost always “analyst,” and the testifying experts almost always hold a PhD or law degree.

 

What Degrees Do You Need for Economic Consulting?

 

You need at least a bachelor’s degree to enter economic consulting, usually in economics, statistics, math, or finance. To advance past the senior analyst level, most top firms expect a PhD, JD, or MBA. The testifying experts almost always hold a PhD in economics or finance.

 

Here is how degrees map to the career path.

 

• Bachelor’s degree: gets you in as an analyst at every top firm

 

• Master’s degree: stronger entry profile, useful for data-heavy and research roles

 

• PhD in economics: the standard path to expert testimony and the top of the ladder

 

• JD or law degree: valued in litigation-heavy practices like antitrust and securities

 

• MBA: a route into client management and business development at the senior level

 

You do not need an economics degree to break in. According to recruiting patterns at top firms, strong quantitative skills and coding ability in Stata, R, or Python can compensate for a non-economics background. What matters most at entry is whether you can do clean, fast, accurate analysis.

 

How Long Does Each Promotion Take?

 

Promotions in economic consulting take two to three years per level at the junior and mid ranks, then slow down near the top. The full path from analyst to partner usually runs 12 to 18 years. Many analysts pause this clock to attend graduate school after two to three years.

 

A common path looks like this. You join as an analyst out of undergrad, work two to three years, then leave for a PhD, MBA, or law degree. You return at the associate or consultant level and resume the climb toward manager, principal, and partner.

 

Top performers can shave time off each cycle. The biggest single bottleneck is the jump to partner, which depends on your ability to win and keep clients rather than raw analytical skill.

 

What Are the Exit Opportunities From Economic Consulting?

 

Economic consulting opens doors to graduate school, finance, tech, government, and academia. The analytical skill set transfers well, and the brand names carry weight with top programs. Most junior analysts leave within two to four years to pursue an advanced degree.

 

The most common exits include the following.

 

• Graduate school: PhD programs in economics, plus top MBA and law programs

 

• Finance: data science, quantitative research, and macro research roles

 

• Government and policy: roles at the Federal Reserve, regulatory agencies, and think tanks

 

• Tech and industry: data scientist and analytics roles at large companies

 

• Academia: research positions for those who pursue a PhD

 

Business school placement from top firms is strong, with regular admits to programs like Harvard, Wharton, and Stanford. For a broader look at where consulting roles lead, the range of consulting exit opportunities overlaps heavily with these paths.

 

Is Economic Consulting a Good Career?

 

Economic consulting is a strong career for analytically minded people who enjoy deep, technical work and high-stakes problems. The pay is competitive, the work is intellectually varied, and the hours are lighter than investment banking. The main trade-offs are lower brand recognition outside law and academia and a slower path to the top.

 

Here are the main advantages and drawbacks to weigh.

 

Pros	Cons
Pay rivals strategy consulting at senior levels	Lower brand recognition outside law and academia
Intellectually varied litigation and policy work	Junior work can be repetitive data cleaning
Lighter hours than banking, minimal travel	Path to partner is slow, often 12 to 15+ years
Excellent graduate school placement	Advanced degree often required to advance

 

How Do You Start a Career in Economic Consulting?

 

To start a career in economic consulting, earn a quantitative degree, build coding skills, land an internship, and apply to analyst roles at top firms. The earlier you build technical fluency, the stronger your entry profile.

 

1. Earn a degree in economics, statistics, math, or finance
   
   
2. Build coding and data skills in Stata, R, and Python
   
   
3. Complete an internship at an economic consulting firm
   
   
4. Sharpen your business writing and presentation skills
   
   
5. Apply to analyst roles and prepare for the interview

 

The interview is the gate. Most firms test you with a case that emphasizes damages, regression, and antitrust reasoning rather than the standard profitability cases at MBB. If you want a faster, more structured way to prepare, my case interview course walks you through proven strategies in as little as 7 days.

 

Frequently Asked Questions

 

Do you need a PhD for economic consulting?

 

No, you do not need a PhD to enter economic consulting. Top firms hire analysts straight out of undergrad with strong quantitative skills. A PhD becomes important to advance to the senior levels and to serve as a testifying expert, since judges and clients value that credential.

 

How much does an economic consultant make?

 

Total pay ranges from about $85,000 at the analyst level to over $400,000 for partners. According to Glassdoor data from 2026, the median total pay for an economic consultant in the US is roughly $170,000. Senior pay at top firms rivals strategy consulting.

 

How long does it take to become a partner in economic consulting?

 

Reaching partner usually takes 12 to 15 years or more. Promotions run two to three years per level at the junior and mid ranks, then slow near the top. The final jump to partner depends on your ability to win and keep clients, not just analytical skill.

 

Is economic consulting harder to get into than management consulting?

 

Both are competitive, but they screen for different things. Economic consulting weights technical and quantitative ability more heavily, including coding and econometrics. Management consulting weights structured problem solving and communication through the case interview.

 

What is the difference between an analyst and an associate in economic consulting?

 

An analyst is the entry-level role, usually filled by undergraduates who do the hands-on data and modeling work. An associate sits above the analyst and typically joins after graduate school, owning workstreams and checking junior work. At some firms the titles differ, so compare by level rather than name.

 

Can you switch from economic consulting to management consulting?

 

Yes, the switch is common, usually after an MBA. The analytical skill set transfers well, and many candidates lateral into strategy roles through business school. Some economic consulting firms with business advisory practices also allow internal moves into more strategy-focused work.

 

What skills do you need for economic consulting?

 

You need strong quantitative and statistical skills, coding ability in Stata, R, or Python, and clear business writing. Attention to detail matters because your analysis can end up in court. Communication skills grow in importance as you move into client-facing roles.

 

Everything You Need to Land a Consulting Offer

 

Need help passing your interviews?

• Case Interview Course: Become a top 10% case interview candidate in 7 days while saving yourself 100+ hours
  
  
• Fit Interview Course: Master 98% of consulting fit interview questions in a few hours
  
  
• Interview Coaching: Accelerate your prep with 1-on-1 coaching with Taylor Warfield, former Bain interviewer and best-selling author

  

Need help landing interviews?

• Resume Review & Editing: Craft the perfect resume with unlimited revisions and 24-hour turnaround

 

Need help with everything?

• Consulting Offer Program: Go from zero to offer-ready with a complete system

 

Not sure where to start?

• Free 40-Minute Training: Triple your chances of landing consulting interviews and 8x your chances of passing them