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The differences between market analysts and pricing analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a market analyst and a pricing analyst. Additionally, a pricing analyst has an average salary of $64,168, which is higher than the $61,606 average annual salary of a market analyst.
The top three skills for a market analyst include analytics, market research and provide management. The most important skills for a pricing analyst are pricing strategy, strong analytical, and customer service.
| Market Analyst | Pricing Analyst | |
| Yearly salary | $61,606 | $64,168 |
| Hourly rate | $29.62 | $30.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 35,278 | 73,462 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 75% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A market analyst is responsible for examining relevant information that will aid the organization to make informed decisions on market strategy. You will be responsible for assessing consumer preferences that will help the company decide how to advertise and market their products. Other typical duties that you will perform may include devising and evaluating methods for gathering data such as opinion polls, surveys, and questionnaires, interpreting the data and organizing this into statistical reports and tables, and creating visuals of industry trends.
Pricing analysts are responsible for examining competitors' pricing strategies and industry standards to aid businesses in determining and setting competitive pricing. These professionals study consumer habits and behavior to gauge their willingness to pay for products and examine consumer spending. They conduct impact and mathematical analyses, and large-scale research to come up with their conclusions. Other duties and responsibilities include developing revenue forecasts and statistical models, monitoring industry trends, and developing pricing tools that can quickly respond to the rapidly changing market trends and needs.
Market analysts and pricing analysts have different pay scales, as shown below.
| Market Analyst | Pricing Analyst | |
| Average salary | $61,606 | $64,168 |
| Salary range | Between $41,000 And $90,000 | Between $46,000 And $89,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Delaware | Washington |
| Best paying company | Intuitive Surgical | Apple |
| Best paying industry | Finance | Finance |
There are a few differences between a market analyst and a pricing analyst in terms of educational background:
| Market Analyst | Pricing Analyst | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between market analysts' and pricing analysts' demographics:
| Market Analyst | Pricing Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 53.3% Female, 46.7% |
| Race ratio | Black or African American, 4.8% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.4% White, 64.5% American Indian and Alaska Native, 0.1% | Black or African American, 5.0% Unknown, 5.0% Hispanic or Latino, 12.0% Asian, 13.0% White, 64.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 10% | 10% |