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The differences between pricing analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a pricing analyst, becoming a business analyst takes usually requires 2-4 years. Additionally, a business analyst has an average salary of $74,431, which is higher than the $64,168 average annual salary of a pricing analyst.
The top three skills for a pricing analyst include pricing strategy, strong analytical and customer service. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Pricing Analyst | Business Analyst | |
| Yearly salary | $64,168 | $74,431 |
| Hourly rate | $30.85 | $35.78 |
| Growth rate | 19% | 9% |
| Number of jobs | 73,462 | 170,514 |
| Job satisfaction | 5 | 4 |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 71% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
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.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Pricing analysts and business analysts have different pay scales, as shown below.
| Pricing Analyst | Business Analyst | |
| Average salary | $64,168 | $74,431 |
| Salary range | Between $46,000 And $89,000 | Between $53,000 And $103,000 |
| Highest paying City | Seattle, WA | Mountain View, CA |
| Highest paying state | Washington | Washington |
| Best paying company | Apple | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a pricing analyst and a business analyst in terms of educational background:
| Pricing Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between pricing analysts' and business analysts' demographics:
| Pricing Analyst | Business Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 53.3% Female, 46.7% | Male, 53.9% Female, 46.1% |
| Race ratio | 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% | Black or African American, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 10% | 11% |