Pricing managers are employees who oversee the pricing needs of the organization. They identify the best pricing schemes for the company's product or service offerings. To do this, pricing managers analyze industry trends and current events. They study the target market and their spending behavior. They also coordinate with different departments, such as the production department to get the cost of production and the human resources department to get overhead costs. They also factor in different operational costs. Once they get this data, they determine the best pricing for the goods. Pricing managers also have a say in company tie-ups and client proposals to ensure that the company will not get the losing end of the stick with such partnerships.

Pricing Manager Responsibilities

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

  • Manage aspects of CEM and help institute CRM plan.
  • Manage a staff of 5 people including two buyers, one analyst and two coordinator/clerical individuals.
  • Lead development of a firm wide standard basis of estimate documentation in preparation for a DCAA audit.
  • Manage product roadmap schedule for consumer wireless routers, adapters, and access points, and switches.
  • Create RFQ for large orders, manage wholesale dealer price lists, and constantly negotiate better pricing on goods.
  • Lead multiple pricing actions where pricing increases/decreases are applied at a SKU level as opposed to a category level.
  • Compile and analyze customer feedback and drive high value features into the product roadmap.
  • Employ several research vehicles including internet surveys, one-on-one interviews, mall intercept studies and focus groups.
  • Prepare and develop complete cost proposals in accordance with specify RFP requirements and the established corporate estimating system.
  • Write ad hoc SQL queries as needed.
Pricing Manager Traits
Creativity involves thinking about a task or problem in an entirely new or different light.
Organizational skills are essential to working as efficiently as possible through being able to focus on projects at hand while also keeping a clean workspace.
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.

Pricing Manager Job Description

When it comes to understanding what a pricing manager does, you may be wondering, "should I become a pricing manager?" The data included in this section may help you decide. Compared to other jobs, pricing managers have a growth rate described as "faster than average" at 8% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of pricing manager opportunities that are predicted to open up by 2028 is 21,800.

Pricing managers average about $49.97 an hour, which makes the pricing manager annual salary $103,938. Additionally, pricing managers are known to earn anywhere from $77,000 to $139,000 a year. This means that the top-earning pricing managers make $62,000 more than the lowest earning ones.

Once you've become a pricing manager, you may be curious about what other opportunities are out there. Careers aren't one size fits all. For that reason, we discovered some other jobs that you may find appealing. Some jobs you might find interesting include a manager, strategy, business development manager, associate product manager, and assistant product manager.

Pricing Manager Jobs You Might Like

Pricing Manager Resume Examples

Pricing Manager Skills and Personality Traits

We calculated that 18% of Pricing Managers are proficient in Analytics, Strategic Pricing, and Customer Service. They’re also known for soft skills such as Creativity, Organizational skills, and Analytical skills.

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

  • Analytics, 18%

    Utilized business Intelligence analytics to understand and address shortfalls or other problems affecting optimization of gross margin and/or asset management issues.

  • Strategic Pricing, 7%

    Collaborated with senior management and sales teams in qualifying and selecting vendors and forming strategic pricing for materials purchasing.

  • Customer Service, 7%

    Interacted daily with Customer Service and Credit/Billing Departments to ensure that orders were processed efficiently for shipping and invoicing.

  • SQL, 5%

    Used plain JDBC for database connectivity and used SQL to write queries to retrieve data from IBM DB2 database using TOAD.

  • Financial Statements, 5%

    Worked closely with accounting in analyzing financial statements for utilization in pricing models ensuring profitability

  • Market Research, 4%

    Lead numerous market research and analysis projects that determined merchandising mix in multiple categories.

"analytics," "strategic pricing," and "customer service" aren't the only skills we found pricing managers list on their resumes. In fact, there's a whole list of pricing manager responsibilities that we found, including:

  • Arguably the most important personality trait for a pricing manager to have happens to be creativity. An example from a resume said this about the skill, "advertising, promotions, and marketing managers must be able to generate new and imaginative ideas." Additionally, other resumes have pointed out that pricing managers can use creativity to "supervised the development of financial models in business forecasting, dynamic pricing architecture, and inventory management. "
  • Another commonly found skill for being able to perform pricing manager duties is the following: organizational skills. According to a pricing manager resume, "advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members." Check out this example of how pricing managers use organizational skills: "developed organizational strategy for fit both with internal and external customers. "
  • Pricing managers are also known for analytical skills, which can be critical when it comes to performing their duties. An example of why this skill is important is shown by this snippet that we found in a pricing manager resume: "advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization." We also found this resume example that details how this skill is put to the test: "partnered with it department to brainstorm ideas to further automate processes and reports using existing custom erp system and data warehouse. "
  • In order for certain pricing manager responsibilities to be completed, the job requires the skill "communication skills." According to a pricing manager resume, "managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process" As an example, this snippet was taken directly from a resume about how this skill applies: "facilitate proposal team communication to include management, business development, contracts, program management and customers. "
  • See the full list of pricing manager skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a pricing manager. We found that 65.6% of pricing managers have graduated with a bachelor's degree and 17.6% of people in this position have earned their master's degrees. While most pricing managers 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 eight pricing managers were not college graduates.

    Those pricing managers who do attend college, typically earn either business degrees or finance degrees. Less commonly earned degrees for pricing managers include accounting degrees or marketing degrees.

    When you're ready to become a pricing manager, you might wonder which companies hire pricing managers. According to our research through pricing manager resumes, pricing managers are mostly hired by Deloitte, AECOM, and UL. Now is a good time to apply as Deloitte has 23 pricing managers job openings, and there are 22 at AECOM and 15 at UL.

    But if you're interested in companies where you might earn a high salary, pricing managers tend to earn the biggest salaries at VMware, Bloomberg, and General Electric. Take VMware for example. The median pricing manager salary is $137,335. At Bloomberg, pricing managers earn an average of $123,415, while the average at General Electric is $121,823. You should take into consideration how difficult it might be to secure a job with one of these companies.

    View more details on pricing manager 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 AT&T;, JPMorgan Chase, and Verizon Communications. These three companies have hired a significant number of pricing managers from these institutions.

    For the most part, pricing managers make their living in the retail and technology industries. Pricing managers tend to make the most in the technology industry with an average salary of $98,450. The pricing manager annual salary in the retail and manufacturing industries generally make $93,256 and $92,045 respectively. Additionally, pricing managers who work in the technology industry make 15.9% more than pricing managers in the transportation Industry.

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

      What Manager, Strategys Do

      A strategy manager is a professional who reviews a company's objectives for growth and works with executives to formulate actionable plans to achieve these objectives. To make comprehensive recommendations, strategy managers must conduct data analysis of the organization as well as the overall industry. They must provide assessments of market trends and identify business threats and opportunities. Strategy managers should also work with department heads to develop individual team goals and break them down into actionable steps for the employees to complete.

      We looked at the average pricing manager annual salary and compared it with the average of a manager, strategy. Generally speaking, managers, strategy receive $18,977 higher pay than pricing managers per year.

      While their salaries may differ, one common ground between pricing managers and managers, strategy are a few of the skills required in each craft. In both careers, employees bring forth skills like analytics, customer service, and sql.

      As far as similarities go, this is where it ends because a pricing manager responsibility requires skills such as "strategic pricing," "product management," "ensure compliance," and "external customers." Whereas a manager, strategy is skilled in "project management," "business strategy," "portfolio," and "strategic initiatives." So if you're looking for what truly separates the two careers, you've found it.

      Managers, strategy receive the highest salaries in the professional industry coming in with an average yearly salary of $156,463. But pricing managers are paid more in the technology industry with an average salary of $98,450.

      Managers, strategy tend to reach higher levels of education than pricing managers. In fact, managers, strategy are 24.4% more likely to graduate with a Master's Degree and 0.2% more likely to have a Doctoral Degree.

      What Are The Duties Of a Business Development Manager?

      A business development manager's duties include identifying business opportunities, developing effective models and strategies to improve business performance, searching for potential clients to generate income and attract partnerships. A business development manager must have extensive knowledge of the market trends and adjust strategies as needed to meet the needs of the client. Excellent communication, decision-making, critical thinking, and leadership skills are just some of the key factors that business development managers should possess to communicate and negotiate with the clients.

      The next role we're going to look at is the business development manager profession. Typically, this position earns a lower pay. In fact, they earn a $14,402 lower salary than pricing managers per year.

      Not everything about these jobs is different. Take their skills, for example. Pricing managers and business development managers both include similar skills like "customer service," "market research," and "competitive analysis" on their resumes.

      But both careers also use different skills, according to real pricing manager resumes. While pricing manager responsibilities can utilize skills like "analytics," "strategic pricing," "sql," and "financial statements," some business development managers use skills like "new clients," "crm," "territory," and "healthcare."

      On average, business development managers earn a lower salary than pricing managers. There are industries that support higher salaries in each profession respectively. Interestingly enough, business development managers earn the most pay in the telecommunication industry with an average salary of $124,501. Whereas, pricing managers have higher paychecks in the technology industry where they earn an average of $98,450.

      When it comes to the differences in education between the two professions, business development managers tend to reach lower levels of education than pricing managers. In fact, they're 5.9% less likely to graduate with a Master's Degree and 0.2% more likely to earn a Doctoral Degree.

      How an Associate Product Manager Compares

      An associate product manager is someone who assists the product development teams in the development of new product features. The duties of an associate include formulation of product strategies, collection of quantitative product data, and interpretation of consumer feedback. The requirements to qualify for the position include a bachelor's degree in computer science, marketing, business management, or a related field, the ability to maintain strong customer relations, and excellent communication skills.

      The third profession we take a look at is associate product manager. On an average scale, these workers bring in lower salaries than pricing managers. In fact, they make a $21,352 lower salary per year.

      While looking through the resumes of several pricing managers and associate product managers we discovered that both professions have similar skills. These similarities include skills such as "customer service," "financial statements," and "market research," but they differ when it comes to other required skills.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from pricing managers resumes, they are more likely to have skills like "analytics," "strategic pricing," "sql," and "financial models." But a associate product manager might have skills like "user interface," "product development," "project management," and "powerpoint."

      Interestingly enough, associate product managers earn the most pay in the technology industry, where they command an average salary of $95,225. As mentioned previously, pricing managers highest annual salary comes from the technology industry with an average salary of $98,450.

      Associate product managers are known to earn similar educational levels when compared to pricing managers. Additionally, they're 0.1% more likely to graduate with a Master's Degree, and 0.2% more likely to earn a Doctoral Degree.

      Description Of an Assistant Product Manager

      The key role of an Assistant Product Manager is to supervise the production of goods and ensure efficiency in all aspects of the production process. They also develop and implement different strategies to ensure the stabilization of the product.

      Now, we'll look at assistant product managers, who generally average a lower pay when compared to pricing managers annual salary. In fact, the difference is about $26,427 per year.

      While both pricing managers and assistant product managers complete day-to-day tasks using similar skills like market research, competitive analysis, and product management, the two careers also vary in other skills.

      Each job requires different skills like "analytics," "strategic pricing," "customer service," and "sql," which might show up on a pricing manager resume. Whereas assistant product manager might include skills like "product development," "powerpoint," "skus," and "overseas vendors."

      In general, assistant product managers make a higher salary in the telecommunication industry with an average of $75,403. The highest pricing manager annual salary stems from the technology industry.

      Assistant product managers reach similar levels of education when compared to pricing managers. The difference is that they're 0.4% more likely to earn a Master's Degree more, and 0.6% less likely to graduate with a Doctoral Degree.