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.

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Pricing Analyst Responsibilities

Here are examples of responsibilities from real pricing analyst resumes representing typical tasks they are likely to perform in their roles.

  • Manage all aspects of Medicare and PHS.
  • Lead team during change windows and coordinate IPLs/IMLs.
  • Identify and qualify leads using web-search methods, social media and LinkedIn.
  • Manage seamless and accurate flow of data between CRM and ERP; troubleshoot and resolve integration failures.
  • Manage & maintain daily/monthly PPC spends for multiple clients to ensure each campaigns meet the desired performance metrics.
  • Work with current Google AdWords to help optimize PPC advertising in both SEM & display network to achieve marketing goals.
  • Create and re-design existing databases for better functionality of software using VBA and SQL.
  • Provide support to client facing consultants through preparation of PowerPoint presentations and answering detail questions on an ad hoc basis.
  • Create financial models, risk analyses and provide recommendations to senior management regarding RFP responses.
  • Develop customer business reviews base on IRI data and identify opportunities to increase category performance.
  • Create statistical models for electricity usage forecasts using piece-wise linear regression models and weather variables.
  • Analyze business performance and competitive pricing intelligence to understand market trends, historical business trends, margin results and price erosion.
  • Utilize Visio flowcharts for process flowcharts.
  • Complete macro market studies of large metropolitan markets.
  • Designate USSOUTHCOM SME for Guantanamo detainee intelligence issues.

Pricing Analyst Job Description

Perhaps the hardest question to answer when deciding on a career as a pricing analyst is "should I become a pricing analyst?" You might find this info to be helpful. When compared to other jobs, pricing analyst careers are projected to have a growth rate described as "much faster than average" at 20% from 2018 through 2028. This is in accordance with the Bureau of Labor Statistics. What's more, is that the projected number of opportunities that are predicted to become available for a pricing analyst by 2028 is 139,200.

A pricing analyst annual salary averages $64,168, which breaks down to $30.85 an hour. However, pricing analysts can earn anywhere from upwards of $46,000 to $89,000 a year. This means that the top-earning pricing analysts make $41,000 more than the lowest-earning ones.

As is the case with most jobs, it takes work to become a pricing analyst. Sometimes people change their minds about their career after working in the profession. That's why we looked into some other professions that might help you find your next opportunity. These professions include an analyst sales, senior research analyst, data research analyst, and senior managment analyst.

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Pricing Analyst Skills and Personality Traits

We calculated that 6% of Pricing Analysts are proficient in Pricing Strategy, Strong Analytical, and Customer Service. They’re also known for soft skills such as Detail oriented, Analytical skills, and Communication skills.

We break down the percentage of Pricing Analysts that have these skills listed on their resume here:

  • Pricing Strategy, 6%

    Monitor competitive airline s pricing strategy and react quickly and efficiently to ensure Continental markets are not undercut by competitors.

  • Strong Analytical, 6%

    Earned top reputation for strong analytical skills, as well as for efficiency in reporting information to upper management.

  • Customer Service, 6%

    Developed and maintained customer relationships with large, multinational companies while streamlining their supply chain process and providing superior customer service.

  • Data Analysis, 6%

    Performed financial analysis through data preparation and exploratory data analysis to support price execution policies and overall optimization of price management.

  • SQL, 5%

    Automated the opportunity prioritization/selection modeling process using Excel VBA and SQL.

  • Financial Analysis, 4%

    Provided in-depth financial analysis and contract pricing for a government contractor specializing in intelligence, reconnaissance, and surveillance systems.

Choose From 10+ Customizable Pricing Analyst Resume templates

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"pricing strategy," "strong analytical," and "customer service" aren't the only skills we found pricing analysts list on their resumes. In fact, there's a whole list of pricing analyst responsibilities that we found, including:

  • Detail oriented can be considered to be the most important personality trait for a pricing analyst to have. According to a pricing analyst resume, "market research analysts must be detail oriented because they often do precise data analysis." Pricing analysts are able to use detail oriented in the following example we gathered from a resume: "analyzed detailed customer historical data utilizing excel and access to develop price models. "
  • Another commonly found skill for being able to perform pricing analyst duties is the following: analytical skills. According to a pricing analyst resume, "market research analysts must be able to understand large amounts of data and information." Check out this example of how pricing analysts use analytical skills: "perform scenario and affordability analysis using historical performance measures, cost models and program metrics applied to large amounts of data. "
  • Another skill that is quite popular among pricing analysts is communication skills. This skill is very critical to fulfilling every day responsibilities as is shown in this example from a pricing analyst resume: "market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients." This example from a resume shows how this skill is used: "reported on performance and market trends through weekly meetings and ongoing communication. "
  • See the full list of pricing analyst skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a pricing analyst. We found that 74.9% of pricing analysts have graduated with a bachelor's degree and 13.1% of people in this position have earned their master's degrees. While most pricing analysts have a college degree, you may find it's also true that generally it's possible to be successful in this career with only a high school degree. In fact, our research shows that one out of every nine pricing analysts were not college graduates.

    Those pricing analysts who do attend college, typically earn either a business degree or a finance degree. Less commonly earned degrees for pricing analysts include a accounting degree or a economics degree.

    When you're ready to become a pricing analyst, you might wonder which companies hire pricing analysts. According to our research through pricing analyst resumes, pricing analysts are mostly hired by SMX Convention Center, Splunk, and Kuehne+Nagel. Now is a good time to apply as SMX Convention Center has 47 pricing analysts job openings, and there are 31 at Splunk and 23 at Kuehne+Nagel.

    Since salary is important to some pricing analysts, it's good to note that they are figured to earn the highest salaries at Apple, Google, and Bed Bath & Beyond. If you were to take a closer look at Apple, you'd find that the average pricing analyst salary is $105,566. Then at Google, pricing analysts receive an average salary of $103,088, while the salary at Bed Bath & Beyond is $101,276.

    View more details on pricing analyst salaries across the United States.

    If you earned a degree from the top 100 educational institutions in the United States, you might want to take a look at Boeing, American Express, and State Street. These three companies have hired a significant number of pricing analysts from these institutions.

    For the most part, pricing analysts make their living in the transportation and technology industries. Pricing analysts tend to make the most in the finance industry with an average salary of $69,095. The pricing analyst annual salary in the manufacturing and automotive industries generally make $65,315 and $65,267 respectively. Additionally, pricing analysts who work in the finance industry make 11.9% more than pricing analysts in the transportation Industry.

    The three companies that hire the most prestigious pricing analysts are:

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    What Analyst Saless Do

    Analyst sales, or a sales analyst, is a professional who is responsible for increasing sales and revenue of a company by running competitive analysis and making recommendations on how the marketing and sales team should move forward. Sales analysts must assist in the review of monthly financial statements and prepare complex financial statements for retail and service businesses. They develop and provide market intelligence data solutions for the sales team to maximize territory sales efforts. Sales analysts must also maintain a business relationship with key account top management to deliver outstanding customer service and assistance.

    In this section, we take a look at the annual salaries of other professions. Take analyst sales for example. On average, the analyst sales annual salary is $4,925 higher than what pricing analysts make on average every year.

    Even though pricing analysts and analyst sales have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require pricing strategy, strong analytical, and customer service in the day-to-day roles.

    There are some key differences in responsibilities as well. For example, a pricing analyst responsibilities require skills like "power bi," "strategic pricing," "competitive pricing," and "cost proposals." Meanwhile a typical analyst sales has skills in areas such as "salesforce," "crm," "sales performance," and "sales management." This difference in skills reveals how truly different these two careers really are.

    Analyst sales tend to make the most money in the finance industry by averaging a salary of $80,458. In contrast, pricing analysts make the biggest average salary of $69,095 in the finance industry.

    On average, analyst sales reach similar levels of education than pricing analysts. Analyst sales are 2.3% less likely to earn a Master's Degree and 0.0% less likely to graduate with a Doctoral Degree.

    What Are The Duties Of a Senior Research Analyst?

    The duties of a senior research analyst depend on one's line of work or industry of employment. Typically, their responsibilities revolve around coordinating with different departments to gather necessary data, performing research and analysis to identify consumer and market needs, finding new business opportunities, and devising strategies to optimize workflow and workforce processes. Furthermore, as a senior research analyst, it is essential to lead and encourage the team members and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.

    Next up, we have the senior research analyst profession to look over. This career brings along a higher average salary when compared to a pricing analyst annual salary. In fact, senior research analysts salary difference is $10,888 higher than the salary of pricing analysts per year.

    A similarity between the two careers of pricing analysts and senior research analysts are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "strong analytical," "data analysis," and "sql. "

    But both careers also use different skills, according to real pricing analyst resumes. While pricing analyst responsibilities can utilize skills like "pricing strategy," "customer service," "power bi," and "pivot tables," some senior research analysts use skills like "analytics," "data collection," "powerpoint," and "research projects."

    Senior research analysts may earn a higher salary than pricing analysts, but senior research analysts earn the most pay in the finance industry with an average salary of $110,757. On the other side of things, pricing analysts receive higher paychecks in the finance industry where they earn an average of $69,095.

    In general, senior research analysts study at higher levels of education than pricing analysts. They're 10.5% more likely to obtain a Master's Degree while being 0.0% more likely to earn a Doctoral Degree.

    How a Data Research Analyst Compares

    The job of a data research analyst focuses on the interpretation of research results. The results data research analysts gather is turned into information offering ways for business improvement. They collect data information from different sources then interpret their patterns and trends. These professionals prepare investigative reports on assets and securities for a client or in-house use. They need to develop skills in a good organization, excellent communication, attention to detail, and accuracy.

    Let's now take a look at the data research analyst profession. On average, these workers make lower salaries than pricing analysts with a $6,303 difference per year.

    By looking over several pricing analysts and data research analysts resumes, we found that both roles utilize similar skills, such as "data analysis," "power bi," and "pivot tables." But beyond that the careers look very different.

    As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from pricing analysts resumes, they are more likely to have skills like "pricing strategy," "strong analytical," "customer service," and "sql." But a data research analyst might have skills like "data collection," "patients," "python," and "research projects."

    Interestingly enough, data research analysts earn the most pay in the finance industry, where they command an average salary of $66,000. As mentioned previously, pricing analysts highest annual salary comes from the finance industry with an average salary of $69,095.

    Data research analysts are known to earn similar educational levels when compared to pricing analysts. Additionally, they're 4.1% more likely to graduate with a Master's Degree, and 2.0% more likely to earn a Doctoral Degree.

    Description Of a Senior Managment Analyst

    The job of a senior management analyst is to review assigned business processes and identify and resolve any financial, technological, and operational risks. They perform varied duties and responsibilities that include identifying opportunities to enhance efficiency, supporting and aligning efforts to meet business and customer needs, and overseeing customer relations and expectations. Other duties include leading or participating in other projects, providing leadership to peers and team members, and supporting the implementation of business solutions through partnerships and relationship building with stakeholders.

    Now, we'll look at senior managment analysts, who generally average a higher pay when compared to pricing analysts annual salary. In fact, the difference is about $19,758 per year.

    According to resumes from both pricing analysts and senior managment analysts, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "pricing strategy," "strong analytical," and "customer service. "

    While some skills are shared by these professions, there are some differences to note. "power bi," "pivot tables," "strategic pricing," and "competitive pricing" are skills that have shown up on pricing analysts resumes. Additionally, senior managment analyst uses skills like project management, portfolio, crm, and business process on their resumes.

    Senior managment analysts earn a higher salary in the professional industry with an average of $87,470. Whereas, pricing analysts earn the highest salary in the finance industry.

    Senior managment analysts reach higher levels of education when compared to pricing analysts. The difference is that they're 5.7% more likely to earn a Master's Degree more, and 0.7% more likely to graduate with a Doctoral Degree.

    What a Pricing Analyst Does FAQs

    Is Pricing Analyst A Good Job?

    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.

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