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The differences between pricing analysts and procurement 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 procurement analyst takes usually requires 2-4 years. Additionally, a procurement analyst has an average salary of $64,448, 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 procurement analyst are purchase orders, supplier performance, and customer service.
| Pricing Analyst | Procurement Analyst | |
| Yearly salary | $64,168 | $64,448 |
| Hourly rate | $30.85 | $30.98 |
| Growth rate | 19% | 11% |
| Number of jobs | 73,462 | 75,154 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 69% |
| 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.
Procurement analysts procure favorable contracts by acting as liaisons between suppliers and their employers. They are hired by organizations that rely on supply chain management to analyze and evaluate potential suppliers, prepare reports about monthly supply costs, and negotiate contracts. With good critical thinking skills, these procurement analysts who are also known as purchasing analysts, evaluate vendors and suppliers based on the speed of delivery, quality, and price. They use quantitative methods to support fact-based decision-making to become competitive and to ensure cost-efficiency and high quality of the products and services.
Pricing analysts and procurement analysts have different pay scales, as shown below.
| Pricing Analyst | Procurement Analyst | |
| Average salary | $64,168 | $64,448 |
| Salary range | Between $46,000 And $89,000 | Between $45,000 And $91,000 |
| Highest paying City | Seattle, WA | Washington, DC |
| Highest paying state | Washington | Maryland |
| Best paying company | Apple | PayPal |
| Best paying industry | Finance | Retail |
There are a few differences between a pricing analyst and a procurement analyst in terms of educational background:
| Pricing Analyst | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between pricing analysts' and procurement analysts' demographics:
| Pricing Analyst | Procurement Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 53.3% Female, 46.7% | Male, 47.7% Female, 52.3% |
| 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, 8.2% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.8% White, 66.4% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |