What is a Pricing Specialist?

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 Does a Pricing Specialist Do

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.

Learn more about what a Pricing Specialist does

How To Become a Pricing Specialist

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.

Learn More About How To Become a Pricing Specialist

Top Pricing Specialist Jobs Near You

Pricing Specialist Career Paths

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.

Top Careers Before Pricing Specialist

Sales Associate (579,849 Jobs)

18.5 %

Cashier (456,110 Jobs)

13.1 %

Customer Service Representative (209,515 Jobs)

12.1 %

Top Careers After Pricing Specialist

Customer Service Representative (209,515 Jobs)

12.0 %

Cashier (456,110 Jobs)

8.7 %

Sales Associate (579,849 Jobs)

8.1 %

Average Salary for a Pricing Specialist

Pricing Specialists in America make an average salary of $73,472 per year or $35 per hour. The top 10 percent makes over $111,000 per year, while the bottom 10 percent under $48,000 per year.

Average Pricing Specialist Salary

$73,472 Yearly

$35.32 hourly

$48,00010%

$73,000Median

$111,00090%

See More Salary Information

What Am I Worth?

Roles and Types of Pricing Specialist

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:

Responsibilitiesinclude the following. Other duties may be assigned. Upload pricing issues into as400 database. Research competitive pricing issues
Develop and prepare complex cost proposals in response to customer requirements. In collaboration with technical staff, prepare budgets (cpff, t&m;,
Work with technical and management subject matter experts to prepare estimates

There are several types of pricing specialist, including:

Operations Coordinator

Role:

Did you know that operations systems became widely applied as early as 4000 B.C? This was the period Egyptians began developing large projects, such as the pyramid which required organization and control of labor. In effect, we know how important operations management is in dividing up tasks and ensuring smooth production flow.

An operations coordinator is primarily responsible for supervising the progress of various departments within an organization. This involves tracking performance goals, monitoring the department's sales, procuring supplies, and negotiating contracts. Besides that, they also train employees, produce reports, and assist in administrative tasks.

Employers generally prefer operations coordinators have a bachelor's degree that is business-related but relevant work experience will be equally important. This role gives good exposure to opportunities such as project management, as well as operations director, after gaining enough experience. The salary earned is, on average, $22 per hour.

Average Salary: $41,934
Degree: Bachelor's Degree

Business Developer

Role:

If you want to earn an average salary of $90,301 per year, you can try working as a Business Developer. With a job growth rate of 8%, you are also given a chance to further your career after some time.

With enough experience and years of working, you can be an Account Manager, a Regional Sales Manager, and a National Sales Manager after beginning as a Business Developer.

As a Business Developer, you will conduct in-depth business analysis and craft different strategies to help businesses grow and raise brand awareness. You will identify areas that need to be improved and come up with new ideas to strengthen your client base.

As a Business Developer, you are expected to be creative, have great interpersonal skills, and possess excellent organizational skills. When you have these skills, there is a big chance that you will land the job and do well in the field.

Average Salary: $101,635
Degree: Bachelor's Degree

Pricing Analyst

Role:

Pricing analysts research the market and analyze data to understand the most profitable prices for the products of their company that stay in sync with market demands and yet allows for achieving sufficient revenues. They contribute to developing pricing models and sales strategies while striving to increase the company's competitiveness.

You will have to assess data from various sources to gain insight into market trends and competitors' pricing, market shares and margins, and customers' preferences. Based on these findings, you will advise your company on appropriate pricing strategies.

As a pricing analyst, you will work in an office and use standard office equipment and software. Your input will be important in forecasting trends and avoiding financial risk, allowing your business to quickly and successfully adapt to changes in the market.

Average Salary: $64,168
Degree: Bachelor's Degree

States With The Most Pricing Specialist Jobs

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.

Average Salary: Job Openings:

Number Of Pricing Specialist Jobs By State

Rank	State	Number of Jobs	Average Salary
1	California	2,246	$80,158
2	Texas	1,739	$70,249
3	Florida	1,370	$65,079
4	New York	1,153	$79,205
5	Pennsylvania	977	$67,275
6	Virginia	918	$77,719
7	Illinois	913	$60,141
8	North Carolina	874	$65,615
9	Georgia	772	$71,517
10	Massachusetts	710	$80,453
11	Ohio	691	$73,425
12	Maryland	620	$89,509
13	New Jersey	592	$86,427
14	Arizona	577	$65,779
15	Michigan	549	$66,113
16	Washington	542	$78,558
17	Colorado	474	$68,106
18	Minnesota	474	$67,105
19	Indiana	426	$80,495
20	Tennessee	411	$59,839
21	Missouri	397	$68,120
22	Wisconsin	377	$60,600
23	Iowa	334	$73,434
24	Oregon	328	$81,866
25	South Carolina	297	$72,760
26	Alabama	296	$59,505
27	Utah	279	$67,840
28	Louisiana	247	$75,920
29	Kansas	231	$60,450
30	Oklahoma	224	$67,558
31	Connecticut	218	$92,193
32	Kentucky	213	$67,336
33	Nebraska	211	$62,306
34	Arkansas	192	$67,463
35	Nevada	184	$84,647
36	New Mexico	156	$64,380
37	New Hampshire	149	$69,860
38	Hawaii	127	$72,560
39	Mississippi	127	$67,124
40	Idaho	126	$76,543
41	North Dakota	125	$66,443
42	Delaware	115	$86,627
43	Rhode Island	111	$75,980
44	Maine	104	$79,553
45	West Virginia	103	$70,720
46	Alaska	96	$78,517
47	Montana	96	$66,125
48	South Dakota	90	$66,361
49	Vermont	76	$74,972
50	Wyoming	70	$63,200

Pricing Specialist Education

Pricing Specialist Majors

Business

35.4 %

Accounting

11.0 %

Finance

9.1 %

Pricing Specialist Degrees

Admissions

Most Popular Majors

Business

Economics

Liberal Arts

Communication

Psychology

Top Skills For a Pricing Specialist

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.

PowerPoint, 11.0%

Work Ethic, 10.2%

Pricing Strategy, 8.2%

Data Entry, 7.3%

Customer Service, 6.4%

Other Skills, 56.9%

Choose From 10+ Customizable Pricing Specialist Resume templates

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.

Pricing Specialist Demographics

Pricing Specialist Gender Distribution

Female

63%

Male

37%

After extensive research and analysis, Zippia's data science team found that:

Among pricing specialists, 63.2% of them are women, while 36.8% are men.

The most common race/ethnicity among pricing specialists is White, which makes up 70.4% of all pricing specialists.

The most common foreign language among pricing specialists is Spanish at 62.1%.

Online Courses For Pricing Specialist That You May Like

Advertising Disclosure

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

Show More Pricing Specialist Courses

Job type you want

Full Time

Part Time

Internship

Temporary

Best States For a Pricing Specialist

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.

1. Delaware

Total Pricing Specialist Jobs: 115

Highest 10% Earn:

$131,000

Location Quotient:

1.14

$86,627

Avg. Salary

View 115 Pricing Specialist Jobs In DE

2. Maryland

Total Pricing Specialist Jobs: 620

Highest 10% Earn:

$135,000

Location Quotient:

1.21

$89,509

Avg. Salary

View 620 Pricing Specialist Jobs In MD

3. Nevada

Total Pricing Specialist Jobs: 184

Highest 10% Earn:

$129,000

Location Quotient:

1.09

$84,647

Avg. Salary

View 184 Pricing Specialist Jobs In NV

Full List Of Best States For Pricing Specialists

How Do Pricing Specialist Rate Their Jobs?

Top Pricing Specialist Employers

Most Common Employers For Pricing Specialist

Rank	Company	Average Salary	Hourly Rate	Job Openings
1	State Street	$85,206	$40.96	135
2	Boeing	$75,450	$36.27	104
3	BNY Mellon	$72,667	$34.94	22
4	Arrow Electronics	$70,740	$34.01	209
5	Shopko Optical	$66,149	$31.80	23
6	Brookshire's	$61,457	$29.55	34
7	Gap Inc.	$55,959	$26.90	60
8	Meijer	$53,413	$25.68	19
9	Target	$41,850	$20.12	67
10	Safeway	$41,657	$20.03	46

Updated February 6, 2023

What is a Pricing Specialist?

What Does a Pricing Specialist Do

How To Become a Pricing Specialist

Pricing Specialist Career Paths

Top Careers Before Pricing Specialist

Top Careers After Pricing Specialist

Recent Job Searches

Average Salary for a Pricing Specialist

Roles and Types of Pricing Specialist

Operations Coordinator

Business Developer

Pricing Analyst

States With The Most Pricing Specialist Jobs

Number Of Pricing Specialist Jobs By State

Pricing Specialist Education

Pricing Specialist Majors

Pricing Specialist Degrees

Top Colleges for Pricing Specialists

1. Western Carolina University

2. University of Southern California

3. San Diego State University

4. Ball State University

5. University of Pennsylvania

6. New York University

7. Bowling Green State University

8. Georgetown University

9. Howard University

10. Northwestern University

Top Skills For a Pricing Specialist

Choose From 10+ Customizable Pricing Specialist Resume templates

Pricing Specialist Demographics

Pricing Specialist Gender Distribution

Online Courses For Pricing Specialist That You May Like

Best States For a Pricing Specialist

How Do Pricing Specialist Rate Their Jobs?

Top Pricing Specialist Employers

Most Common Employers For Pricing Specialist

Pricing Specialist Related Careers

Pricing Specialist Related Jobs

What Similar Roles Do

Resume For Related Jobs