At a Glance
- Tasks: Lead economic analysis and policy development for the UK rail industry.
- Company: Join ORR, a key player in shaping rail regulation and policy.
- Benefits: Enjoy flexible working, personal development opportunities, and a competitive salary.
- Other info: This is a one-year fixed-term maternity cover position with potential for extension.
- Why this job: Make a real impact on UK rail while developing unique skills in economics and public policy.
- Qualifications: Significant experience in economic analysis and stakeholder engagement required.
The predicted salary is between 64000 - 74000 £ per year.
This role can be based at any of our office locations: London, Birmingham, Bristol, Manchester, York, Glasgow. At ORR we have adopted hybrid working and are currently expected to work from a workplace location for a minimum of two days per week or 40%.
The Office of Rail and Road (ORR) is the independent economic and safety regulator for Britain's railways and monitor of performance on England's strategic road network.
This is an exciting time to join ORR, we are delivering a significant transformation programme to create a consistently agile and enabling organisation, with the right capability and a strong, inclusive culture that reflects our talented people.
This will ensure we continue to operate as an independent, expert regulator, fit for the future and equipped with the capabilities and ways of working required to support sector-wide rail reform, while contributing to the government's broader agenda on regulatory reform and economic growth.
Further detail on our future role is set out here.
EFM provides rigorous economic analysis to underpin the development of policy & support decision-making.
We work on complex economic problems that combine commercial, public policy and regulatory considerations. In the Rail Economics team, ORR employs a diverse group of talented economists working alongside industry experts and policy makers. At ORR, your economic analysis can directly influence key decision making and policy development. You will work on complex economic problems that combine commercial, public policy, and regulatory matters. Your work at ORR will see you work closely with senior decision makers and build a valuable skill set, combining technical, commercial, and delivery experience.
We are a diverse team of talented economists working alongside industry experts and policy makers. As part of our team, your economic analysis can directly influence decision making and the development of key policies in UK rail regulation.
It's an exciting time to join the team as you will have the opportunity to contribute to the design of the emerging regulatory framework for a reformed rail industry following the creation of Great British Railways, which will bring together 'track and train' into one body. You can read more about the government's plans for the rail industry in its consultation document.
We work on complex economic problems that combine commercial, public policy, and regulatory matters. You will support our team's work on the charges train operators pay to access the rail network, and the financial incentive payments made by the industry which help to drive better performance on the rail network, as ORR's role in this area transitions to that specified in the government's rail reform consultation.
We also work with teams across ORR on the economic impact of potential changes to track, station or depot access for trains, including on the impact that operating new train services could have on existing markets. Your work will help to build a unique skill set which combines commercial expertise with public policy experience.
As a senior manager in our team, you are expected to be a role model for other members of the team and to positively demonstrate ORR's values. You are expected to take initiative in your role and maintain a strong sense of accountability for your own work.
In joining ORR you will benefit from flexible working patterns that support your personal commitments while developing a challenging career. We are committed to personal development and you will be offered attractive training opportunities to help develop your economic and professional skills.
Please refer to the attached Job Description and Job Information Pack for further details.
Find out what our colleagues have to say about their ORR careers at Our people Office of Rail and Road (orr.gov.uk).
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Principal Economist employer: Office of Rail and Road
The Office of Rail and Road (ORR) is an exceptional employer, offering a dynamic work environment across multiple locations including London, Birmingham, and Manchester. With a strong commitment to hybrid working, employees enjoy flexibility while contributing to vital regulatory reforms in the rail industry. ORR fosters a culture of inclusivity and professional growth, ensuring that team members are equipped with the skills and support needed to thrive in their roles and make a meaningful impact on the future of Britain's railways.
StudySmarter Expert Advice🤫
We think this is how you could land Principal Economist
✨Tip Number 1
Familiarise yourself with the current economic and regulatory landscape of the UK rail industry. Understanding the recent reforms and how they impact rail economics will help you engage in meaningful discussions during interviews.
✨Tip Number 2
Network with professionals in the rail economics field. Attend relevant conferences or webinars to connect with industry experts and gain insights that could be beneficial for your application and interviews.
✨Tip Number 3
Prepare to discuss your leadership experience in detail. As a Principal Economist, you'll be managing a team, so think of examples where you've successfully led projects or teams, showcasing your ability to inspire and guide others.
✨Tip Number 4
Brush up on your stakeholder engagement skills. Be ready to share experiences where you've effectively communicated complex economic concepts to both technical and non-technical audiences, as this is crucial for the role.
We think you need these skills to ace Principal Economist
Some tips for your application 🫡
Understand the Role:Before applying, make sure to thoroughly read the job description for the Principal Economist position. Understand the key responsibilities and essential criteria, as this will help you tailor your application to highlight relevant experiences.
Demonstrate Relevant Experience:In your application, provide specific examples of your significant experience in economic and financial analysis. Use quantifiable achievements to showcase your skills and how they relate to the responsibilities outlined in the job description.
Highlight Leadership Skills:Since leadership is a key behaviour for this role, ensure you include instances where you've successfully led teams or projects. Discuss how you managed performance and development, as well as how you engaged with stakeholders.
Tailor Your Communication:Effective communication is crucial for this position. When writing your application, focus on how you can convey complex economic concepts to both technical and non-technical audiences. This will demonstrate your ability to build relationships and communicate effectively with various stakeholders.
How to prepare for a job interview at Office of Rail and Road
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the key responsibilities of the Principal Economist position. Familiarise yourself with the economic and policy issues the Rail Economics team tackles, as well as the specific projects mentioned in the job description.
✨Prepare for Stakeholder Engagement Questions
Given the importance of stakeholder handling in this role, be ready to discuss your experience engaging with external stakeholders. Prepare examples that demonstrate your ability to build trust and credibility, especially in complex environments.
✨Showcase Your Leadership Skills
As a senior manager, you'll need to exhibit strong leadership qualities. Be prepared to share instances where you've successfully led teams or projects, highlighting how you supported team members' development and contributed to a positive work environment.
✨Practice Effective Communication
Since effective communication is crucial for this role, practice explaining complex economic concepts in simple terms. Be ready to convey your analysis to both technical and non-technical audiences, as this will likely come up during the interview.
