1. Western Carolina University
Cullowhee, NC • Private
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.
There are certain skills that many pricing specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and detail oriented.
If you're interested in becoming a pricing specialist, one of the first things to consider is how much education you need. We've determined that 60.4% of pricing specialists have a bachelor's degree. In terms of higher education levels, we found that 6.8% of pricing specialists have master's degrees. Even though most pricing specialists have a college degree, it's possible to become one with only a high school degree or GED.
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of pricing analyst you might progress to a role such as senior finance analyst eventually. Later on in your career, you could end up with the title manager finance planning and analysis.
What Am I Worth?
The role of a pricing specialist includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general pricing specialist responsibilities:
There are several types of pricing specialist, including:
Mouse over a state to see the number of active pricing specialist jobs in each state. The darker areas on the map show where pricing specialists earn the highest salaries across all 50 states.
|Rank||State||Number of Jobs||Average Salary|
High School Diploma
Cullowhee, NC • Private
Los Angeles, CA • Private
San Diego, CA • Private
Muncie, IN • Private
Philadelphia, PA • Private
New York, NY • Private
Bowling Green, OH • Private
Washington, DC • Private
Washington, DC • Private
Evanston, IL • Private
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 11.0% of pricing specialists listed powerpoint on their resume, but soft skills such as analytical skills and communication skills are important as well.
Zippia allows you to choose from different easy-to-use Pricing Specialist templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Pricing Specialist resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
After extensive research and analysis, Zippia's data science team found that:
1. Customer Value in Pricing Strategy
The traditional approach to pricing based on costs works to pay the bills, but it leaves revenue on the table. You can, in fact, price your products in a way that increases sales--if you know what your customers are willing to pay and can leverage psychology to create better deal and discount plans. In this course, we'll show you how to price a product based on how your customers value it and the psychology behind their purchase decisions. Developed at the Darden School of Business at the...See More on Coursera
2. Cost and Economics in Pricing Strategy
How much should you charge for your products and services? Traditionally, businesses have answered this question based on the cost to produce or provide their goods and services. This course shows you the economic factors behind pricing based on cost and the pros and cons of a cost-based pricing approach. Developed at the Darden School of Business at the University of Virginia, and led by top-ranked Darden faculty and Boston Consulting Group global pricing experts, the course provides the...See More on Coursera
3. Pricing Strategy
Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on...See More on Coursera
Some places are better than others when it comes to starting a career as a pricing specialist. The best states for people in this position are Connecticut, Maryland, Delaware, and New Jersey. Pricing specialists make the most in Connecticut with an average salary of $92,193. Whereas in Maryland and Delaware, they would average $89,509 and $86,627, respectively. While pricing specialists would only make an average of $86,427 in New Jersey, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
|Rank||Company||Average Salary||Hourly Rate||Job Openings|