1. University of Pennsylvania
Philadelphia, PA • Private
Pricing analysts research the market and analyze data to understand the most profitable prices for the products of their company that stay in sync with market demands and yet allows for achieving sufficient revenues. They contribute to developing pricing models and sales strategies while striving to increase the company's competitiveness.
You will have to assess data from various sources to gain insight into market trends and competitors' pricing, market shares and margins, and customers' preferences. Based on these findings, you will advise your company on appropriate pricing strategies.
As a pricing analyst, you will work in an office and use standard office equipment and software. Your input will be important in forecasting trends and avoiding financial risk, allowing your business to quickly and successfully adapt to changes in the market.
There are certain skills that many pricing analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, analytical skills and communication skills.
If you're interested in becoming a pricing analyst, one of the first things to consider is how much education you need. We've determined that 74.9% of pricing analysts have a bachelor's degree. In terms of higher education levels, we found that 13.1% of pricing analysts have master's degrees. Even though most pricing analysts have a college degree, it's possible to become one with only a high school degree or GED.
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a pricing analyst can determine their career goals through the career progression. For example, they could start out with a role such as senior finance analyst, progress to a title such as finance manager and then eventually end up with the title finance vice president.
What Am I Worth?
The role of a pricing analyst includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general pricing analyst responsibilities:
There are several types of pricing analyst, including:
An analyst can work in many different industries. So if you're looking for a position with endless job possibilities, then you've come to the right place. Who knows, the job might even come with a sweet salary, but you'll have to keep reading to find out.
Typically, an analyst will work in an office. They'll analyze data and make informed decisions based on the information they collect. An analyst might have a financial background or they might be a management analyst. Maybe you want to be a market research analyst or a news analyst. Either way, you've got to be good at making decisions.
The majority of analysts work a full-time position of 40 hours a week. Although, it isn't unheard of for analysts to work more than that. Did someone say overtime?
You know how it's smart to invest your money? Well, the brains behind that operation is a finance analyst. Essentially, they're in charge of advising and supporting investment decisions of individuals and businesses.
Most finance analysts work full-time, but some work even more than that. The typical finance analyst enters the career having earned a bachelor's degree. With the extra education, employers tend to invest a lot of their dime to pay finance analysts. So having the higher education definitely pays off.
The work of a Data Analyst is key for a business or organization to determine viable operational strategies and potential risks. The main responsibility of a data analyst is gathering and interpreting data with advanced computer technologies, analyzing the quality and meaning of the data results in information that highlights important patterns and trends in the activities of the organization.
Data analysts present these reports to management and, without these results, stakeholders are unable to make informed decisions. Data analysts are employed by a number of different institutions such as banks, universities, factories, software development companies, and many more.
You need to have excellent problem-solving skills and a keen mathematical mind to be a successful data analyst. You need to know various programming languages, and you must display a logical approach. You will work under pressure for tight deadlines with a team of like-minded individuals, so an ability to prioritize tasks and a willingness to work with a team is also crucial.
Mouse over a state to see the number of active pricing analyst jobs in each state. The darker areas on the map show where pricing analysts earn the highest salaries across all 50 states.
|Rank||State||Number of Jobs||Average Salary|
Philadelphia, PA • Private
Athens, GA • Private
Evanston, IL • Private
Madison, WI • Private
College Park, MD • Private
Minneapolis, MN • Private
Austin, TX • Private
Los Angeles, CA • Private
West Lafayette, IN • Private
Washington, DC • Private
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 6.4% of pricing analysts listed pricing strategy on their resume, but soft skills such as detail oriented and analytical skills are important as well.
Zippia allows you to choose from different easy-to-use Pricing Analyst templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Pricing Analyst resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
After extensive research and analysis, Zippia's data science team found that:
1. Data Analysis Immersive (Full-time)
Learn to problem solve, and effectively communicate, like an analyst. This course teaches you to use industry-standard tools to make ethical, data-driven decisions. Experience hands-on training to master SQL, Excel, Tableau, PowerBI, and Python – tools listed in virtually every data analytics job posting across industries...
2. Data Analytics (Part Time)
Harness Excel, SQL, and Tableau to drive powerful analysis and insights. Build confidence and credibility to apply this versatile skill set to countless jobs. This course is offered in person and live online, in a remote classroom setting...
3. Intro to Statistics
Statistics is about extracting meaning from data. In this class, we will introduce techniques for visualizing relationships in data and systematic techniques for understanding the relationships using mathematics...
Some places are better than others when it comes to starting a career as a pricing analyst. The best states for people in this position are Washington, Delaware, New Jersey, and California. Pricing analysts make the most in Washington with an average salary of $94,828. Whereas in Delaware and New Jersey, they would average $82,274 and $77,357, respectively. While pricing analysts would only make an average of $74,321 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
2. District of Columbia
Everyday is different & it’s more of an art than a science.
Pushy & dishonest sales people. Some will do anything to get better pricing
|Rank||Company||Average Salary||Hourly Rate||Job Openings|
|3||JPMorgan Chase & Co.||$74,900||$36.01||63|
Yes, analysts make good money. The national average salary for an Analyst is $72,821 per year. The number of years of experience and the type of analyst (e.g., business, data, finance) impacts how much you can earn as an analyst.
Yes, being a pricing analyst is a good job. Pricing analysts may see between a 15-20% rise in demand for their services within the next decade.
These positions are well-sought after since many companies are now engaging in more market competition. More companies are also becoming more prevalent across the business landscape as well, resulting in a drastic increase in the need for pricing analysts.