BATES WHITE ECONOMIC CONSULTING
Get ready for some fresh info as we talk about a firm that specializes in econometrics, statistics, antitrust, and specifically advanced econometric modelling. Bates White Economic Consulting is a highly reputable boutique firm that has been gathering momentum in recent years.
If you are one of those econ fanatics (ahem: nerds) who dig economics, statistics, and antitrust policies, Bates White may be the firm you’ve been searching for your whole life.
BATES WHITE KEY STATS
Bates White Website: www.bateswhite.com
Bates White Headquarters: Washington, DC
Bates White Employees: 200 Employees
Bates White Locations: Washington, DC and San Diego
Bates White Chief Executive: Charles Bates – Chairman
Bates White Revenue: $100M
Bates White Engagement Cost: $200K
BATES WHITE HISTORY
Founded in 1999 by Charles Bates and Halbert White, Bates White’s goal has always been to set the bar as high as possible when it comes to excellence. Before founding Bates White, current Chairman Charles Bates was the Vice President of A.T. Kearney and prior to his stint there, he was a partner at KPMG.
As if he wasn’t already impressive enough, he also led a team that provided expert services during the Vitamin C Antitrust Litigation, one of the largest price-fixing cases in U.S. history. In addition to this, he has been called upon as an expert witness in governmental, legal, and public forums including the U.S. Senate Judiciary Committee, Federal Bankruptcy Court, United States Tax Court, California Supreme Court and arbitration hearings.
Halbert White, who passed away in 2012, was also a man at the top of his field. As an expert in econometrics, modelling, statistics and other areas, White was a fellow of the American Academy of Arts and Sciences, a Guggenheim Fellow, and a Fellow of the Econometric Society. As a world-renowned economic theorist and thought leader, White was also a prolific writer with over 100 published books and papers to his name. An interesting fact about Halbert White: one of his papers, written in 1980, holds a niche-yet-impressive record as the most-cited paper in peer-reviewed economic literature since 1970. Stick THAT in your pipe and smoke it, everyone else who’s written a not-so-cited piece of peer-reviewed economic literature!
Bates White has been a dominant market leader in asbestos litigation and valuation as well as in False Claims Act litigation. Though antitrust remains Bates White’s largest practice area, the firm is recognized as an expert in environmental product liability, healthcare and life sciences, energy, and finance.
BATES WHITE ORGANIZATION
In case you hadn’t figured it out by now, Bates White is a boutique economic consultancy firm headquartered at Washington, D.C. headed by Chairman & Senior Partner Charles E Bates. According to Vault’s ranking, Bates White stands at #30 in the top 50 consulting firms, #3 among the top consulting firms in philanthropy and #12 among the best consulting firms for informal training! While the firm’s name may not be as well-known as some of the competitors in its field, that doesn’t stop it from ensnaring high profile clients.
With a squad of antitrust professionals, of which there are more than 100 MBAs and 50 Ph.D.s, Bates White advises clients on case development and strategy, evaluating economic policies and changes with ease. The academically-inclined team reviews evidence and analyzes the likelihood of litigation or settlement.
Having been involved in some of the highest-profile antitrust cases in history, tackling and, in some cases, helping legislate on behalf of and define issues monopolization, mergers and acquisitions, and competition suppression, Bates White is clearly a force to be reckoned with in the world of economic consulting.
Another interesting part of Bates White is its European connection, E.CA Economics (formerly ESMT Competition Analysis), based in Berlin, Germany. It was founded in 2007 and focuses on the areas of antitrust, regulation, merger and state aid. Bates White and E.CA maintain an exclusive cooperative partnership to provide antitrust services in the United States and the European Union. E.CA Economics is currently being led by Hans W. Friederiszick, a former member of the Chief Economist Team of DG Competition, and Rainer Nitsche, a former Vice President of the economics consultancy CRA International.
- Antitrust & Competition
- Communication & Media
- Environment & Product Liability
- Healthcare & Life sciences
- Intellectual Property
- International Arbitration
- Labor & Employment
- Public Policy & Regulatory Economics
- Transfer Pricing & Tax
Bates White is a well-designed, flat-yet-deep organizational structure. What does that mean? Though the structure is flat, consultants work on niche projects and do not have too many levels of leadership to deal with. If you join, you will be directly working with Managers and Principals on projects unlike other firms where you barely get to see senior management.
There are two Bates White paths: Consultants and Economists. Consultant positions are for those with a Bachelor’s or an MBA degree, while Economist positions are for those who hold a Ph.D. There are also several opportunities outside these tracks, available in the area of operations that span multiple disciplines to include human resources, finance and accounting, marketing, information systems and technology, administrative support, and corporate services.
Career path for Consultants: Consultant > Consultant II > Senior Consultant > Manager > Principal > Partner
Career path for Economists: Economist > Senior Economist > Manager > Principal> Partner
Are you a hungry economic/quant senior, looking for interesting internship work? Bates White’s Summer Consultant Program (ranked #3 summer program for consulting firms) provides rising seniors with an amazing 10 weeks of learning, collaborating, working, training, and socializing. As a Summer Consultant, you’ll work side-by-side with employees at all levels, including Ph.D. economists, MBAs, and JDs to meet the needs of real clients. Each rising senior is assigned a peer coach and a sponsor who teaches them the ropes within the organisation and also provides career guidance. Another very interesting aspect of this program is that it enables them to network with high-end leaders and work closely with experts in the field.
If your main goal is to land a job at MBB or another top level strategy firm, you may want to avoid an internship at Bates White and get some brand name experience in another field. If, however, you know you want to take a deep dive into the economic consultancy sphere, grab hold of that Bates White internship while you can!
Despite the boutique nature of the firm, Bates White alums have a lot of opportunities before them once they decide to leave. The high profile work does mean that you’ll be exposed to big brand names in key industries, getting you professional exposure and building some great hero stories. Many when leaving do stay in consulting, even ending up at MBB (eventually), while a number go on to work at other brand name companies like Apple and Google.
Looking to chart the next steps of your career? Schedule a Power Half Hour with us to get pointed in the right direction.
BATES WHITE CULTURE
- Exceed our clients’ expectations
- Forge long-term client relationships
- Empower our people
- Respect our people and trust their judgment
- Build a collaborative work environment
- Maintain an entrepreneurial spirit
- Share risks and rewards
- Deliver on commitments both internally and externally
- Build an environment where diverse skill sets are valued
If you accept a position at Bates White, depending on the track you choose, here’s what you can expect:
As a consultant you will be assigned to client projects from day one. Bates White doesn’t waste any time getting you up to speed. Your projects will be high profile, working with senior management, and focused on analyzing and processing data, conducting research, and solving problems.
As an economist, you will be developing detailed work plans that break large problems down into manageable tasks, suggesting additional/complementary projects, and anticipating and rebutting client’s arguments. Economists interact with clients and/or experts, supervise junior staff, and coordinate projects.
Having cultivated a culture that supports intellectual freedom, rewards collaboration, and offers opportunities to build your career, Bates White employees always make mention of the fact that they are challenged to put their education to work as they develop practicable solutions real-world problems, all in the context of a strong team environment.
Bates Whites is also deeply committed to creating an environment that fosters a diverse workforce and inclusive culture. The firm’s Diversity/Inclusion Council represents a cross-section of employees and ensures diversity and inclusion are supported in all aspects of the firm. They are also very serious about inclusiveness towards women. Women are represented at all levels of the firm, including senior leadership. Because the company is big on this, they have a few initiatives in this area of women inclusiveness.
The downside of Bates White, as with most consulting firms, is that they have long working hours. While you should be expecting this as a prospective consultant, it’s an issue staff raise quite regularly, especially since economic consulting firms often have 40-hour work weeks.
The salaries are good too, but not as competitive as other economic consulting firms especially when you compund that with the longer than average working hours you can expect to be subjected to. Those of you who are interested in economic consulting firms should definitely consider Bates White, but not without taking stock of the disadvantages you may face.
BATES WHITE INTERVIEWS & RECRUITING
If you’d to know more about the firm’s campus hiring schedule, please click here.
Bates White offers lots of opportunities for people with various backgrounds and qualifications. The campus hiring process takes anytime between 1-3 months. Interviews at Bates White are tough and can get rigorous. One interviewee reported having to explain every teeny tiny reason for every grade they got! Needless to say, an encyclopedic knowledge of your own resume is an absolute must.
The Consultant interview process takes from 2 weeks to 2 months. and can look like this:
First Round – 1 hour Phone Interview of which 45 minutes is an interviewer-led case.
Second/Final Round – You’ll be flown into D.C. for 3 behavioral interviews and 2 case interviews. Ph.D. interviews are notoriously tough, but if you have a Ph.D, you better be ready – you’re supposed to be super smart, right?
Nervous about your case and behavioral interview chances? Check out our interview prep options to give you a leg up on the competition!
Networking your way into a position at Bates White is not very difficult if you’ve got the right education and experience. The firm is young, growing, and currently looking to fill multiple positions. The firm hosts info sessions and career fairs at dozens of schools across the US. Access their events calendar to find out when and where you can network with someone from the firm and make sure you have your consulting-ready resume ready to leave with them.
Secondly, set up your LinkedIn profile and search for Bates White employees in your network. LinkedIn shows around 400 firm employees in the United States alone, so it’s possible you know someone who knows someone at Bates White. For tips on planning your approach and delivering your elevator pitch, read The Networking Bible.
If providing statistics and econometric modeling are your passions, you’ll be a great fit at Bates White.
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BATES WHITE LINKS