Company: CRAI
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001053706-25-000007
Chunk: 21

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 21
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, 2024, we employed 946 consultants, consisting of 151 officers, 552 other senior staff and 243 junior staff. Approximately 74% of our senior staff have advanced degrees, with 40% of the advanced degrees being doctorate degrees, in addition to substantial management, technical, government, academic, or industry expertise. We believe our reputation and corresponding financial results are directly related to the number and quality of our employee consultants.

We derive most of our revenues directly from the services provided by our employee consultants. Our employee consultants have backgrounds in many disciplines, including economics, life sciences, engineering, computer science, business, corporate finance, accounting, and mathematics. We are highly selective in our hiring of consultants, recruiting primarily from a select group of leading universities and degree programs, industry, and government. Our recruitment process evaluates an individual's experience, skills, and potential for growth, and we annually meet with our interviewers to discuss effective interviewing strategies including how to evaluate candidates, how to conduct fair and unbiased interviews, and how to answer candidate questions. We believe consultants choose to work for us because of our emphasis on accurate, rigorous analytics and high quality work; a culture that values intellectual curiosity, initiative, and resourcefulness; and a collegial, collaborative, and multi-disciplinary approach to complex client needs. Our training and career development framework and programs are designed to complement on-the-job experience and an employee's pursuit of his or her own career development. Employee consultants participate in structured programs focused on managing teams, technical and empirical knowledge, and building client relationships. Through our ongoing internally-led workshops and scheduled courses, we provide presentations, discussions, and training on topics such as analytical tools, thought leadership, service capabilities, professional skills, and feedback discussions. Additionally, we encourage our employee consultants to pursue their academic interests through self-directed training modules, our on-demand library of software webinars, and external professional development and continuing education opportunities.

We seek to reward both strong performance and those who demonstrate growth in their careers at CRA. Accordingly, we compensate our senior corporate leaders, practice leaders, key revenue generators, and other employees with salary and a mixture of incentive-based programs, including a discretionary bonus program through which we pay annual, performance-based cash bonuses to our employee consultants. Our long-term incentive program ("LTIP") serves as a framework for equity 

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grants under our Amended and Restated 2006 equity incentive plan, as amended (the "2006 Equity Plan"), offering stock options, time-vesting and performance-