Dear EA enthusiasts,
Enjoy the read!
as the network's purpose is to connect people in consulting who want to do the most good with their time and money, this newsletter will be a quarterly format to share ideas and announce upcoming events.
Our common goal: Doing good strategically!
Today for you...
Ideas to digest: Evaluating five strategies to fight HIV - a simple example on how donations' cost-effectiveness can vary
EA & community updates: EACN is growing rapidly – members are generating content and are organizing events
Inspiration from fellow network member: Get the gist of how Stefan Shaw consults philanthropists
Make a difference now: Share the EACN GivingGuide, a neat slide package explaining the why and how of effective giving, with your colleagues and friends. Think big to reach as many people as possible and thus multiply your impact
Idea to digest: Cost-effectiveness as the core principle to multiply your impact
What is it? Some donations can be hundreds of times more effective than others, mostly due to immense global inequality and differences in the cost-effectiveness of the specific measures. It implies that many people in the world suffer from problems that could be solved with only small amounts of money.
Example for application: Below is a chart from an essay by Dr. Toby Ord, showing the number of years of healthy life (measured using DALYs) you can save by donating $1,000 to one of five different interventions to reduce the spread of HIV and AIDS.
Key takeaway: Effective altruism is about answering one simple question - How can we use our resources to help others the most?
How can you apply this? We invite you to think about the cost-effectiveness of your next donation. A useful resource is our GivingGuide based on GiveWell’s research which offers advice, research, and guidance as to which charities are the most effective to donate to or volunteer with.
EA & Community updates:
EACN's growth trajectory is unbroken:
- The EACN network consist of 200+ members by now
- All major consulting firms represented
- BCG & McKinsey launched their own internal EA slack channels - featuring 70+ consultants each
Several activities ongoing by community members:
- Molly (Deloitte UK) organized a meeting on how to tackle climate change as a consultant
- Charlotte, Jona (BCG) and Lisa (WU) created a GivingGuide and had great success sending it to 20+ BCG office leaders of which 5+ already sent the guide to their staff (~1,000+ consultant, ongoing)
- Konstantin and Jakob (McKinsey) set up an internal EA slack channel and orchestrate activities there
- Alex (WU Vienna) is helping to strengthen the community by organizing regular get-togethers
- Jeremy (BCG US) is organizing a joint talk with GiveWell on effective donations
- Nils (Accenture) is organizing EA talks
- Charlotte and Tara (BCG Switzerland) launched a green team based on EA principles
- Felix (d-fine) organized an EA evening chat with 50+ consultants participating
- Tim (BCG AT) set up this newsletter
- Emily (Ex-BCG AUS/Sempo) started to work in an effective charity to make cash and voucher transfers more efficient for NGOs/Govs – good luck!
- Adrian (PWC) is pitching EA within PWC
- Ignaz Forstmeier (Founders Plegde) visited BCG to share his story of doing good by founding a tech start-up
- Simon, Carolin, Charlotte and Jona (BCG) organized four EA pitches in their respective offices, using off-the-shelf material, which you can also leverage
- Lisa (WU Vienna) set up the EACN homepage
- A team around Bowen and Joel (BCG AUS) are currently building an intranet side to make effective donations easier for BCGers
- Several members conducted 5+ interview coachings for EAs, who want to join consulting firms
- Please e-mail us, if we didn’t feature your initiative
Inspiration from a fellow EAC member: Stefan Shaw
What are you currently doing to have social impact?
Together with partners (one of them a former consultant as well) I run legacies.now in Munich. We consult serious philanthropists on how to give wisely and effectively.
How did your experience as a consultant help you for your career?
For my current job? It provided me with the mindset and the tools to assess and compare the relevance and value of non-profit organizations with the same rigor that is applied to for-profit organizations.
What advice would you give to other consultants, who want to do good strategically?
Be great in what you do and then either use the skills you have acquired in an organization that not only focuses on doing good but is actually effective in achieving it – or donate some of the great money you make to enable others to do the job.
Make a difference now: Share the guide to HIGH IMPACT donations now
You don’t have time?
Transform the life of thousands of children by donating to deworm the world in less than 5min
You want to do more?
Why not maximize the positive impact achieved through donations this year by informing your colleagues about how they can do the most good? Particularly Christmas is the time of the year where the volume of donations is traditionally soaring.
This is probably the easiest way to multiply your impact x100 (or much more) at the end of the year, while also positioning yourself as an EA expert and triggering EA discussions within your firm. We compiled a GivingGuide and prepared an e-mail that you can share with your colleagues.
Let’s maximize our impact together!
Join our Facebook and Linkedin groups.
See the 80,000 hours job board for interesting roles with a focus on global problems, where additional work is likely to have the biggest impact.
Are you currently working on an exciting topic you would like to share through this newsletter, do you have a refreshing event idea or would you like to become a member of the core group? – Contact us via e-mail