Economic & Financial Consulting

What We Do

Our team of consultants come from a wide variety for academic backgrounds. At FTI they develop skills in economics and finance whilst drawing on their problem-solving and analytical skills to answer a range of questions for high-profile clients.

We specialise in two main areas:

  1. providing valuation advice about anything from large public companies to patents and trademarks. We do all types of work, but in particular we are the leading firm in advising on valuation issues before courts and tribunals all around the world; and
  2. economic regulatory advice, where we apply economic theory and in-depth experience to offer advice to both regulators and regulated companies on a wide range of issues.

We have offices in cities across the world, with more than 240 staff worldwide. In London, our EFC practice has more than 150 people.

Examples of questions our clients have asked us:

  • What impact did Uber have on the earnings of Black Cab drivers in London?
  • What is a fair way to distribute money from streaming service royalties to music artists?
  • How much extra cost did the NHS incur because a generic drug was kept off the UK market by an invalid patent?
  • How much is the brand name of a Premier League football club worth?
  • What is the value of an airport in South Africa?
  • Do US stock exchanges undervalue Chinese companies?
  • As part of the Foskett Panel, how much compensation should business owners receive after they were wrongly made to close by Lloyds Bank?
  • Does an econometric analysis of a European bank’s share price indicate that it was affected by the release of inside information?
  • How large are the benefits of subsidising rural broadband networks in Europe?

Read our EFC Recruitment Brochure

 

What You Will Do

Our graduates play a key role in our project teams by performing industry research and developing the knowledge and experience to perform detailed economic analysis and financial modelling to solve interesting questions. They benefit significantly from working closely with managers and other team members in small teams, as well as from direct exposure to some of the top experts in the industry.

After comprehensive training, some of your day-to-day tasks will include:

  • Preparing and reviewing financial models, using Excel and financial databases such as Bloomberg and CapitalIQ
  • Using statistical software packages to perform econometric analysis of industry and market data
  • Researching companies, markets or geographies to understand what industry features are relevant to the project
  • Reviewing the regulatory landscape and drawing parallels with our client’s industry
  • Summarising your work in emails or memos, clearly presenting your results and drawing out the implications
  • Taking responsibility for the quality of the final product

What We Offer You

As a graduate you will have the opportunity to apply your intelligence and critical thinking skills to stimulating economic, financial and business issues across many different industries.

You will be supported through professional qualifications to become a Chartered Accountant (ACA) or a Chartered Financial Analyst (CFA). In addition, we have a comprehensive in-house learning and development programme. As you take on new responsibilities, your training will help you develop into an effective and professional consultant.

You will receive a competitive starting salary of at least £45,000, a signing bonus, an annual discretionary bonus and a comprehensive benefits package. We also offer a well-defined career path with regular appraisals and opportunities for accelerated promotion for star performers.

There may also be the opportunity for secondment to our international offices (in Paris, Dubai, Hong Kong, Singapore, Seoul, Toronto or South Africa). Our people are also encouraged to provide pro-bono support to charities and contribute to other outreach projects.

We also offer summer internships and 12-month industry placements.

Summer Internship

Applications for our 8-week Summer Internship will open in September. As an intern, you will have the opportunity to apply your intelligence and analytical skills to stimulating economic, financial and business issues across many different industries. Our interns will have the opportunity to experience a variety of different projects across a range of industries.

12-month year in industry

EFC also offers a 12-month internship for students on courses which require an industry placement. Every year we take on up to 5 students, who get to experience life as a graduate at FTI.

How to apply

1

Round 1 – Online Application

The deadline for the Industry Placement Year was 31st October 2023 – APPLICATIONS FOR THIS ROLE ARE NOW CLOSED.

The deadline for the Graduate Scheme is 9th November 2023.

The deadline for the Summer Internship and Black Heritage Internship is 31st January 2024.

2

Round 2 – Online Assessment

3

Round 3 – Assessment Centre/Interviews

Candidates are advised that different roles at FTI Consulting have different application requirements. In order to be considered for these roles at EFC, candidates must:

  • Upload their CV (cover letters and other documents are not required)
  • Answer the motivation question (provided when online tests are sent out) in less than 200 words. Your motivation response should include an understanding of our work, what you find interesting about it, and why your are suited to the role.

Graduate Scheme Requirements:

  • Numerate, logical and inquisitive team players from any degree subject
  • Ability to think independently and creatively
  • Ability to demonstrate their quantitative skills, whether academically or in other ways

Industry Placement Requirements:

  • Candidates must be available for a 12-month placement in our London office, from September 2024 to August 2025.
  • Applicants should be studying a sandwich course
  • Numerate, logical and inquisitive team players from any degree subject
  • Ability to think independently and creatively
  • Must be able to demonstrate their quantitative skills, whether academically or in other ways

APPLICATIONS FOR THE INDUSTRY PLACEMENT ARE NOW CLOSED.

Summer Internship Requirements:

  • Candidates must be available for an 8-week internship at our London office during the summer of 2024. Applicants should be in their penultimate year of study
  • Numerate, logical and inquisitive team players from any degree subject
  • Ability to think independently and creatively
  • Candidates must be able to demonstrate their quantitative skills, whether academically or in other ways

Black Heritage Internship Requirements:

  • Candidates must be of Black heritage
  • Candidates must be available for an 8-week internship at our London office during the summer of 2024. Applicants should be in their penultimate year of study
  • Numerate, logical and inquisitive team players from any degree subject
  • Ability to think independently and creatively
  • Candidates must be able to demonstrate their quantitative skills, whether academically or in other ways

Please note: for summer internship and Black Heritage internship applicants, as our deadline is 31st January 2024 we will review all applicants and be in touch after this date.

Opportunities

Aleks Ziolkowska

Director
BSc Management with Finance at Warwick
Joined 6 years ago

What sets EFC apart the most in my view is the culture. Since day one everyone has been really friendly and I always felt I could ask for help when I needed it. I never felt any competition between my peers. On the contrary, we often ask each other for advice. During my time here, I have developed some true friendships and I find the feeling of being a part of the team very motivating.

I joined EFC a few years ago through the graduate programme. As a student, I was looking for a career in consulting with a focus on analytical skills, and EFC proved to be a great fit.

I have been interested in finance since university. Therefore, I work mainly on projects involving valuation of assets such as companies, trademarks and patents in legal disputes. That being said, the projects I have worked on have been very diverse and on each one, I learned about a new industry or explored different approaches to valuing a business.

What sets EFC apart the most in my view is the culture. Since day one everyone has been really friendly and I always felt I could ask for help when I needed it. I never felt any competition amongst my peers. On the contrary, we often ask each other for advice. During my time here, I have developed some true friendships and I find the feeling of being a part of the team very motivating.

I really get the sense that my coach and my managers care about my development; whenever I have wanted to work on a particular project, with particular people, or develop a specific skill, they have made a real effort to accommodate that. For example, I wanted to work internationally and I’ve been given the opportunity to join our rapidly expanding Dubai team on a secondment. My colleagues from London are often seconded to other offices in our international network, including Hong Kong, Seoul, Singapore, Paris and Cape Town, and the list continues to grow.

Because of the quick pace at which we develop our skills, EFC offers great opportunities for fast career progression if you perform well. Most people are initially promoted every year and high performers can progress even more quickly.

Project: Assessing losses of a solar plant following regulatory changes.

Background

In the early 2000s the European Union and many individual European governments realised the need to drive rapid development in the renewable energy industry to address the challenges of climate change. Many renewable power schemes, such as large-scale solar, need big upfront investments, but typically the market price of electricity has been too low to justify this investment. To solve this, many countries offered favourable subsidies which included a guaranteed fixed price the government would pay for any electricity produced by the plant. This price was significantly higher than the market price paid for conventional energy.

In some countries, the subsidies were significantly more popular than the governments expected, and green energy industries developed swiftly. As a result of this expansion and some other factors, the price of solar panels decreased dramatically and it became apparent that governmental support may not be needed. Facing the large, unexpected cost, which might have to be passed on to energy customers, some governments cancelled or amended their support schemes. They did this retroactively, meaning that investors who had already incurred high initial costs, expecting to be able to use the support schemes, suffered losses.

Our client was one of the affected investors. Soon after the solar plant was completed, the government started reducing the previously guaranteed price at which they would buy its electricity and imposing other additional costs. Our role was to estimate the impact of these regulatory changes on the value of the business to assist them in seeking compensation from the government.

My role

My role was to act as the bridge between the high-level conceptual thinking and client management done by more senior managers and the fine detail of the work being performed by Consultants on the project. This requires combining the ability to see the big picture along with strong attention to detail.

I have been involved in the project from the start up to the final stage of the case, a court hearing where an FTI expert gave evidence. Initially, it was crucial for us to understand the solar energy industry and the business of our client. I directed the team to research the renewable energy sector, helped draft initial information requests to obtain the data we needed, and helped develop the approach the team would use to analyse the data we received.

I was then responsible for building a large model which valued the business with and without governmental support to calculate the impact of the regulatory changes on its value. This model was used in all phases of the project and it was my responsibility to update it when new facts came to light.

In the later stages of the project, as I gained more experience, I was involved in writing sections of reports submitted to the Tribunal explaining our analysis and our conclusions. I also helped the FTI expert prepare to give evidence in court and got to attend proceedings to assist the legal team with any issues that came up during the hearing.

I really enjoyed working on this project, not only because I am interested in renewable energy, but also because I got to work with a fantastic team that taught me a lot!

Awards & Recognition

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