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The differences between merchandise 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 merchandise analyst and a pricing analyst. Additionally, a merchandise analyst has an average salary of $67,933, which is higher than the $64,168 average annual salary of a pricing analyst.
The top three skills for a merchandise analyst include powerpoint, SQL and data analysis. The most important skills for a pricing analyst are pricing strategy, strong analytical, and customer service.
| Merchandise Analyst | Pricing Analyst | |
| Yearly salary | $67,933 | $64,168 |
| Hourly rate | $32.66 | $30.85 |
| Growth rate | 19% | 19% |
| Number of jobs | 38,127 | 73,462 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 75% |
| Average age | 37 | 37 |
| Years of experience | 6 | 6 |
A merchandise analyst is an individual who monitors inventory levels while following and charting the profits and sales of a store or company. Merchandise analysts are required to identify appropriate industry and product categories so that they can focus on maximizing the business of each store. They must review and analyze weekly advertisement results with team members to meet their sales goals as well as identify causes of high carryover and methods for reduction. Merchandise analysts must also use data analysis to identify markets and fine-tune merchandise.
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.
Merchandise analysts and pricing analysts have different pay scales, as shown below.
| Merchandise Analyst | Pricing Analyst | |
| Average salary | $67,933 | $64,168 |
| Salary range | Between $49,000 And $92,000 | Between $46,000 And $89,000 |
| Highest paying City | Seattle, WA | Seattle, WA |
| Highest paying state | Washington | Washington |
| Best paying company | Macy's | Apple |
| Best paying industry | Retail | Finance |
There are a few differences between a merchandise analyst and a pricing analyst in terms of educational background:
| Merchandise Analyst | Pricing Analyst | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Georgia | University of Pennsylvania |
Here are the differences between merchandise analysts' and pricing analysts' demographics:
| Merchandise Analyst | Pricing Analyst | |
| Average age | 37 | 37 |
| Gender ratio | Male, 36.6% Female, 63.4% | Male, 53.3% Female, 46.7% |
| Race ratio | Black or African American, 5.1% Unknown, 5.0% Hispanic or Latino, 12.2% Asian, 10.7% White, 66.9% 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% |