How To Become A Pricing Specialist: What It Is and Career Path

What is a pricing specialist and how to become one

Updated January 8, 2025

3 min read

Quoted expert

Dr. Paige Novak P.E. (Minnesota), BCEE

Pricing specialists are known as market research analysts who work together with the sales department and management to determine the ideal price for products or services. Pricing specialists are tasked with researching various market trends and pricing strategies, tracking customer engagements on products and services to determine and develop efficient pricing strategies, and creating formal proposals for cost reduction in services. Also, you are to work together with sales reps and ensure customers comply with pricing changes and are paying the right amount for products. You will also need to keep records, write reports, and sometimes perform managerial duties such as financial account management.

As a pricing specialist, you need to possess a bachelor's or master's degree in mathematics, statistics, economics, business administration, or a related field. You must also have in-depth knowledge of pricing strategies, data analysis, and statistical methods. With these qualifications, you will earn an average of $59,372 per year or $29 per hour.

What general advice would you give to a pricing specialist?

Dr. Paige Novak P.E. (Minnesota), BCEE

Department Head and Joseph T. and Rose S. Ling Chair in Environmental Engineering, University of Minnesota - Twin Cities

Ask questions, stay curious and open minded, take opportunities to learn and develop new skills.

ScorePricing SpecialistUS Average

Salary

5.7

Avg. Salary $73,472

Avg. Salary $59,228

Stability level

Growth rate 19%

Growth rate 0.3%

Diversity

4.3

Race

American Indian and Alaska Native 0.43%

Asian 8.83%

Black or African American 6.36%

Hispanic or Latino 9.39%

Unknown 4.56%

White 70.43%

Gender

female 63.16%

male 36.84%

Age - 43

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 43

Complexity level

1.8

Complexity level is simple

7 - challenging

Key steps to become a pricing specialist

Explore pricing specialist education requirements

Most common pricing specialist degrees

Bachelor's

60.4 %

Associate

16.3 %

High School Diploma

11.8 %

Start to develop specific pricing specialist skills

Skills	Percentages
PowerPoint	10.95%
Work Ethic	10.15%
Pricing Strategy	8.17%
Data Entry	7.27%
Customer Service	6.36%

Research pricing specialist duties and responsibilities

Utilize VBA to automate tasks and increase productivity by significantly decreasing report completion time.
Perform research of all bad debt accounts, outstanding checks, statements, bank information and all wire transfers including ACH.
Process all derivative trades to valuation systems.
Review and report stopped items base on OFAC regulations.

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