Macroeconomics Manager

About the role: PwC’s UK Economics team is looking for experienced macroeconomists at Manager grade to join the firm’s expanding practice.

Who we are and what we do - PwC Economics is one of the UK’s leading economics consultancies, and part of PwC's global network of economists. Our team of c.60 economists and policy specialists work with a wide range of clients, using economic insights to inform strategic choices, guide the development of policy and assess the impact of major investments. In the boardroom, in front of regulators and with policy makers, we develop big, distinctive ideas and important insights that are grounded in robust economic analysis. We are known for our leading-edge analysis and thought leadership, such as our insights on the UK and Global Economic Outlook, Women in Work Index and other publications including our reactive comments to the press, all of which feature in the UK and international media. This provides our people the chance to prepare analysis that matters and influences CEOs, governments and regulators alike. In addition, we also work as a core part of the firm’s strategy consulting practice. Our team works on the practical application of economics to develop real-world solutions to important problems - aligned to the purpose and mission of PwC.

We work on stand-alone projects and in collaboration with our colleagues across a range of disciplines and sectors, meaning we offer a huge variety of opportunities for our people to apply their expertise in a range of exciting and different contexts. For example, in the last twelve months our team has:

• Published multiple public thought pieces on the firm’s view on the UK and global economy, the state of the labour market, green jobs, local government, inflation as well as on the impact of a joined up Industrial Strategy on UK economic activity.
• Assessed the coherence, reasonableness and suitability of medium-term economic scenarios and their underlying assumptions developed for the purposes of accounting standards (e.g. IFRS 9) for financial services clients.
• Assisted on commercial transactions which involved developing regional projections on the national and regional housing market focusing on house prices, transaction volumes, rental volumes and prices feeding into valuation models.
• Published a global report tracking the pickup of artificial intelligence skills covering more than half a billion job vacancies, across a variety of countries and sectors using machine learning techniques.
• Advised a large global outsourcing conglomerate on the suitability of the inflation indexation mechanisms in place for their contracts, in the backdrop of a cost of living crisis.

We are looking for well-rounded individuals who can combine great technical skills with people skills and who are interested in developing a growing practice area. You will need to have a degree of creativity, entrepreneurial spirit and use this to apply macroeconomic insights, tools and techniques to a business context on issues which sometimes might not have a clear answer. You will also need to have well-rounded skills required from a consultant including a flair for building and maintaining relationships. You will need to demonstrate a strong background of professional experience, gained in consulting, business or government, and have demonstrable experience of being rigorous, adaptable and creative to solve difficult economic, business or policy questions using macroeconomic theory.

Ideally you are able to demonstrate knowledge and experience of delivering successful projects in at least one or more of the following areas:

• Economic outlook: Track record of independent thought on macroeconomic, market and cross-sector issues for both the UK and other economic blocs (i.e. G7 and large emerging markets) to articulate what this could mean for businesses and society at large.
• Forecasting: Apply economic theory and use econometric analysis to forecast business relevant variables to answer commercially important questions relevant to determine business strategy ranging from demand, revenues or costs, to country risk premium estimates and market entry assessments.
• Scenarios: Build or assess the suitability of economic scenarios and the associated underlying assumptions in the context of either regulatory exercises, international accounting standards or business planning exercises e.g. for the purposes of IFRS 9 and IFRS 17.

Aside from technical economics skills and delivery skills, you’ll need consulting skills. We recognise that for some candidates, these may need to be developed. PwC has an excellent programme of training for those new to consulting, where you can develop commercial acumen, presentation and communication skills, negotiation skills, and other practical skills required to be successful in consulting.

What your days will look like:

• Help manage developing our UK and international economic forecasts and narrative on the economy as part of the firm’s thought leadership programme.
• Take the lead to deliver robust and rigorous economic analysis and writing of reports or presentation packs as part of projects which require the use and application of macroeconomic theory to solve business, policy, regulatory (e.g. IFRS 9 or IFRS 17) or other issues.
• Take the lead to develop analytical frameworks seeking to answer commercial, policy or other questions, which involve a substantial degree of macroeconomic analysis, scrutiny and storytelling.
• Coach junior staff on projects and ensuring sufficient time for quality assurance from senior colleagues.
• Support senior colleagues to develop responses to invitations to tender and other business development activity.
• Present the latest views on the economy to a wide group of senior stakeholders both internal and external to PwC.

In the role, you will primarily work on projects that require econometric, qualitative or technical expertise or more complex applications of macroeconomic economic theory. You will be expected to present and communicate ideas and findings to both colleagues and clients in an accessible style and, therefore, require strong written and verbal communication skills as well as excellent presentation skills. The role offers an excellent opportunity to work with our diverse range of clients based all over the world and in all sectors.

This role is for you if:

• You have a track record of independent thought on macroeconomic issues and ability to develop original ideas and cutting edge insight relating to the factors that drive the UK and global economy.
• Analytical mindset and practical problem solving skills.
• Demonstrable ability to drive forecasts and analysis across a diverse range of macroeconomic topics applied to a business and policy context (For example, IFRS 9 or IFRS 17 experience).
• Strong writing and editing skills with experience of synthesising complex economic analysis for a variety of stakeholders (both economists and non-economists), presenting findings in a clear, accessible manner, and drawing out and simplifying key insights from data.
• Strong command of presentation related software (i.e. MS Office suite, including Powerpoint).
• Knowledge of the main macroeconomics data provider platforms which could include LSEG (formerly known as EIKON), IHS, Macrobond.
• Managing junior staff on projects.
• Attention to detail and a commitment to going the extra mile to produce rigorous, accurate work, within time and resource constraints.
• Fluency in spoken and written English is a key requirement, and knowledge of another language is preferable.
• Must possess an Economics Degree (or an international equivalent) or have equivalent work experience. This includes international candidates who qualify through experience in their home country.
• Experience of working in a consulting environment and translating complicated economic messages to a non-technical audience is desirable.

What you’ll receive from us: No matter where you may be in your career or personal life, our benefits are designed to add value and support, recognising and rewarding you fairly for your contributions. We offer a range of benefits including empowered flexibility and a working week split between office, home and client site; private medical cover and 24/7 access to a qualified virtual GP; six volunteering days a year and much more.