My Plans After Econ Consulting + Other Exit Options

[@user-xx1qc9uz5i]

how exciting, girl! Would love a vid on data science interviewing tips!!

[@TiaraTanka]

Sure I’ll add it to the list. Thanks for the suggestion !

[@JW-yn7fz]

the exit opportunity is definitely a good topic to discuss in economic consulting. I am curious about how easy it is for you to land job interviews in DS with an econ degree plus economic consulting experience?

[@TiaraTanka]

I think econ consulting -> DS is becoming more and more common. I think the ease of the transition depends on how much time you spent in econ consulting. Since I was only in econ consulting for 1 year, it was pretty tough. If you stay in econ consulting for 2 or more it’s usually easier. (However, it’s worth taking a risk and trying to get out of Econ consulting sooner than 2 years if you feel like you aren’t learning enough, or if you feel like it’s not the right fit for you. )

[@JW-yn7fz]

@@TiaraTanka Keep us updated on your journey girl!! Would love to hear more from you about DS!

[@TiaraTanka]

Aww thank you!! I will:)

[@pmkrock]

Hi Tiara! A quick question: You mentioned that folks transitioned to product roles at a tech company. I'm curious how their interview process was like since we don't really develop "features" of a product, which are often what tech companies would want, although the skill we gain at economic consulting is quite relevant, albeit not directly. I ask since I quit consulting 2 years ago worked as a business associate. Do you know what companies they went to? Thanks!

[@Rasat]

What’s the money like in data science compare to econ consulting?

[@TiaraTanka]

It depends a lot on the company. I think in general the compensation is similar for most DS jobs and most econ consulting jobs. (You might even earn a bit more in econ consulting because the hours are generally much longer.) However, my guess is that data scientists at FAANG and other top-paying tech companies earn more than the econ consultants at top paying econ consulting firms because the tech equity can be really valuable

[@Rasat]

@@TiaraTanka thanks for the insight

[@Reapzrr]

Is it easy/common to use economic consulting internship experience/skills to then transition to and get a full-time role as a generalist at MBB for example when compared to a management consulting internship?

[@TiaraTanka]

I wouldn’t say it’s ~common~, just because econ consulting isn’t that common. However, you don’t necessarily need a management consulting internship before working full-time at MBB. I’ve seen people with a range of different backgrounds get into MBB. The analytical skills you use in an econ consulting internship would definitely be useful in management consulting, but you might want to supplement your resume with something more client-facing or people-oriented too. That’s just my opinion

[@soohyunahn9545]

Hi, I’m a junior in college studying operations research and interested in pursuing economic consulting or data science as a full-time role. Was the coding you did in the economic consulting part “enough” for the technical aspect of your resume, or did you also have side projects/ other experiences? Also, how difficult was it to prepare for technical interviews? Do you think it would be easier with a masters/ bootcamp? As another viewer mentioned, I would love a video on data science interviewing tips!

[@TiaraTanka]

The technical aspects of my econ consulting job helped me a lot, but I needed to spend some time outside of work practicing data science interview questions and working on personal projects. The process was very frustrating and difficult at times, but definitely doable with enough patience. I think masters programs and boot camps provide good structure and networking resources, but they’re not necessary if you’re comfortable with independent learning. There are so many amazing, free / cheap resources online. The number and quality of available resources keeps growing too as data science becomes more popular. (Given that you’re a college junior studying operations research, I’m sure you’ve spent lots of time outside of class studying on your own so I imagine you’d have no problem with self-motivation, discipline, etc.)

[@anushkagulabani1892]

Hey Tiara! I was wondering if you had any modules relating to the economics of competition policy at your university ? If yes, are there any books you can recommend for me to get a thorough understanding of the same?

[@anushkagulabani1892]

I've been referring to the book by Massimo Motta but it is 700 pages long and not sure I can read through it before my net interview. I could definitely do a 400-500 pager though that isn't EXTREMELY technical

[@TiaraTanka]

Sorry I don’t have any good recommendations. How did your interview go?

[@RuneMamba]

Do you feel confident and competent as someone whos self taught ? I like FI but not RE , FI gives you freedom to work on what matters to you.

[@TiaraTanka]

Yes, but I don’t really think you can be FI before retiring. That’s what Fi means to me anyway. I do feel confident and competent in my abilities because I wouldn’t have gotten the job if I weren’t. Although, I know I still have a lot to learn and there will be growing pains

[@RuneMamba]

@@TiaraTanka Yes you can be FI without retiring...you just need to make the right investments. You just need a few million and follow a 2-4% withdrawal rule.