Industrial Economics Incorporated. Reviews | Glassdoor

Industrial Economics Incorporated. Reviews

Updated April 19, 2017
20 reviews

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3.4
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Jennifer R. Baxter
4 Ratings

20 Employee Reviews

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  1. "Upper echelon of consulting firms"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate in Cambridge, MA
    Former Employee - Associate in Cambridge, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Industrial Economics Incorporated. full-time (More than a year)

    Pros

    The company truly cares about their employees. Having worked for other firms and being familiar with policies and practices from friends who work at other companies, IEc is a cut above the rest. Their review process, while cumbersome and a bit tedious (every 6 months) is well structured and includes a supervisor review component to help the Principals and Senior Associates strive to deliver a premium service to their clients with the best support from their team as possible. Despite rising health care costs, the Principals continually pony up to cover the costs for a top-tier plan. If you are motivated, passionate about the work, and willing to pitch in and help out, you will love the work environment and opportunities IEc will afford you.

    Cons

    It continually perplexed me as to why they invest so heavily in their employees and staff welfare, yet stifle the ability of the support staff (IT and Accounting) to do their job. The technology is a bit outdated, and getting a reimbursement for a company expense is like waiting for the Arctic ice sheet to melt in the dead of winter. You know it'll eventually happen, but you best be willing to wait a couple of months.

    Advice to Management

    Invest in your technology and support staff. Hold them more accountable for their work, and listen to the RAs, Associates, and support staff when they suggest improvements. You're clearly brilliant and successful in your respective practice areas, let the support staff flex their knowledge and invest in newer computers, laptops, and servers.


  2. "Research Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Analyst in Cambridge, MA
    Former Employee - Research Analyst in Cambridge, MA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Industrial Economics Incorporated. full-time (More than a year)

    Pros

    -Smart people
    -Nice office
    -Good work/life balance
    -Good benefits

    Cons

    -Salaries are low specially compared to what principals are making
    -Boring work, specially at the analyst level
    -A lot of your success randomly depends on the principal you work for
    -If IEc where a country it would be South Africa: there is strong staff segregation: Nearly all consulting staff is white or asian and support staff is not. Also, inequality is super high, some principals make/made absurd amounts of money, while general salaries in the firm are rather low
    -Bad behaviors are allowed by a management team that values performance over core values

    Advice to Management

    -Work on building a good working environment, and the rest will follow
    -In good times, share a bit more


  3. "Associate"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Cambridge, MA
    Former Employee - Anonymous Employee in Cambridge, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Industrial Economics Incorporated. full-time (More than 5 years)

    Pros

    Provide exposure to various types of projects.

    Cons

    No warning when the overall company is not doing well.

    Advice to Management

    When laying people off, some warning would be greatly appreciated.


  4. "Strong company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Covington, LA
    Former Employee - Anonymous Employee in Covington, LA
    Recommends
    Positive Outlook

    I worked at Industrial Economics Incorporated. full-time (More than 3 years)

    Pros

    IEc offers fair pay and great benefits. It's a great way to get experience in the industry. The company sponsors lots of outings and activities to promote camaraderie.

    Cons

    Some of the departments are not as responsive as they could be, which can sometimes present a challenge for employees.


  5. Helpful (3)

    "Waste of time for me and a waste of money for the clients"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Cambridge, MA
    Former Employee - Anonymous Employee in Cambridge, MA
    Doesn't Recommend
    Negative Outlook

    I worked at Industrial Economics Incorporated. full-time (More than a year)

    Pros

    Fills a spot on my resume and health insurance benefits are good.

    Cons

    I truly saw fleecing of the government. Employees are encouraged to find work to do for a client or forced to do busy work. No room for advancement. No reward for hard work or dedicated employees. Really don't get much time off use a big portion of the time that's given on regular holidays that time should be given anyways. The pay was very below average for the area even with the bonus. Management allows for difficult employees to do what they want, talk pure trash about everyone behind there backs with no disciplinary action against them.

    Advice to Management

    Reward and praise those who work hard and are dedicated. Stop allowing difficult employees to do what they want and say what they want. Pay a decent wage so the employees don't have to scrap by. What good is a work life balance if you can't afford a life?


  6. "Intern review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Somerville, MA
    Former Employee - Intern in Somerville, MA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    The work is really interesting and its full of really smart people. Senior management is really great, and compensation is solid. Its also in a really nice area.

    Cons

    Hard to stand out, and the culture is a bit too formal. The office isn't very welcoming and its a difficult place to establish yourself.

    Advice to Management

    Try and appeal to a broader demographic, be more involved with your interns and entry level employees. Consider different office structures and moving away from cubicles.


  7. "Great work & people, with some work to be done"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Analyst in Cambridge, MA
    Former Employee - Research Analyst in Cambridge, MA
    Recommends
    Positive Outlook

    Pros

    IEc hires the best - analysts and associates are very sharp, come from high academic backgrounds, and study a wide range of topics. Camaraderie with other employees is high, and employees spend a decent amount of time together outside of the office. The small feel of the company allows for mentorship and networking across positions/titles and a more informal work atmosphere than competing firms.
    Project areas are diverse within the sectors of environmental policy, natural resource economics, government services, program evaluation, and financial services. The structure of the company allows for junior staff to work in multiple practices areas and develop a wide skill set. A large emphasis is put on performance review, and IEc goes to great lengths to encourage genuine goal-setting and regular check-ins with regards to progress on personal and professional goals. For the most part, managers are invested in their subordinates' growth and use the leverage they have to allow junior staff to grow.

    Cons

    While IEc hires the best, they do not have the incentive structure to keep them. Compensation is relatively low compared to competing firms, and analysts cannot be promoted without a graduate degree. Some of the principles began working as analysts, but the majority of research analysts do not return after earning a masters' degree, taking higher-paying jobs within the larger environmental consulting industry, or in another sector.
    Moving between practices is remarkably difficult; at the analyst level, practice areas assigned at hire are likely to be the main work during his/her tenure at IEc. Preference to project areas is given based on need when new analysts are starting, not necessarily based on interest, skill, or fit with principle.
    There is a great divide between the consulting staff and the contracting / accounting staff. For a small company, the two operate in almost complete isolation with relation to each other, and there is notably absent camaraderie between the two groups.

    Advice to Management

    Provide funding to incentivize RAs to go to graduate school and come back - you're letting bright talent walk out the door and not return. Increase pay for junior staff. Introduce more flexibility for junior staff to move between project areas. Encourage opportunities for consulting staff and accounting / contracts staff to interact and develop meaningful relationships, both personal and professional.


  8. "Nice people, good job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Prefer Not to Say in Cambridge, MA
    Former Employee - Prefer Not to Say in Cambridge, MA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Industrial Economics Incorporated. full-time (More than 3 years)

    Pros

    You can meet lots of nice people.
    A lot of young people adding energy to the mix.

    Cons

    Sometimes snooty about the administration stuff. I'm not but I don't like that


  9. "Research analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Analyst in Cambridge, MA
    Former Employee - Research Analyst in Cambridge, MA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Industrial Economics Incorporated. full-time (More than a year)

    Pros

    Colleagues are smart, with an interesting diversity of specialty backgrounds. Produces high-quality work on engaging projects. Nice building - and good general location.

    Cons

    Pay could be a little better - but quality of life makes up for that. If you want to make a lot more money, go work for a management consulting firm (you'll pay for that in hours worked)


  10. "Great for a few years... No real upward mobility at the Research Analyst level"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Research Analyst in Cambridge, MA
    Current Employee - Research Analyst in Cambridge, MA
    Positive Outlook

    I have been working at Industrial Economics Incorporated. full-time

    Pros

    Pretty flexible work environment regarding dress and time in and out of the office.
    The people at the RA and Associate level are generally awesome and laid back. Everyone is real nice and it is easy to make friends.

    Cons

    Experience really depends on the Principals you work for. Some are great and some are not.
    Interesting project work also really depends on the Principals you work for. It is not easy to switch practice areas for the first year so you may be stuck working on whatever they assign you to, regardless of your interest or previous experience.

    Advice to Management

    Management really needs to figure out how to run this company on a larger scale. IEc continues to grow larger, yet the management of the firm has not evolved or grown with the increase in Principals.


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