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Pricing specialist hiring summary. Here are some key points about hiring pricing specialists in the United States:
Here's a step-by-step pricing specialist hiring guide:
A pricing specialist is responsible for determining the appropriate pricing and value of the company's goods and services by analyzing the market trends and performing data and statistical analysis. Pricing specialists manage the pricing policies of an organization adhering to the business requirements and state regulations. They adjust pricing strategies according to public and market demands and coordinate with the marketing and sales team to inform and disseminate pricing adjustments to the customers and clients.
Before you start hiring a pricing specialist, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
Hiring the perfect pricing specialist also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
Here's a comparison of pricing specialist salaries for various roles:
| Type of Pricing Specialist | Description | Hourly rate |
|---|---|---|
| Pricing Specialist | $23-53 | |
| Operations Internship | Operations interns learn the management techniques on how to lead and supervise others. Interns usually gain experience by being an unpaid employee in the operational department... Show more | $12-20 |
| Business Developer | A business developer specializes in conducting in-depth business analysis and crafting various strategies that would not just help a business grow, but also strengthen client base and brand awareness. One of their primary responsibilities revolves around identifying areas in need of improvement... Show more | $31-75 |
Including a salary range in your pricing specialist job description helps attract top candidates to the position. A pricing specialist salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a pricing specialist in Nebraska may be lower than in Connecticut, and an entry-level pricing specialist usually earns less than a senior-level pricing specialist. Additionally, a pricing specialist with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Nevada | $89,121 | $43 |
| 2 | District of Columbia | $89,068 | $43 |
| 3 | California | $85,301 | $41 |
| 4 | Oregon | $81,841 | $39 |
| 5 | Indiana | $80,456 | $39 |
| 6 | New York | $79,559 | $38 |
| 7 | Virginia | $79,128 | $38 |
| 8 | Washington | $78,962 | $38 |
| 9 | Iowa | $73,414 | $35 |
| 10 | Ohio | $72,788 | $35 |
| 11 | Georgia | $71,723 | $34 |
| 12 | Texas | $70,559 | $34 |
| 13 | West Virginia | $69,680 | $34 |
| 14 | Colorado | $68,084 | $33 |
| 15 | Missouri | $67,980 | $33 |
| 16 | Utah | $67,720 | $33 |
| 17 | Minnesota | $67,098 | $32 |
| 18 | Oklahoma | $67,097 | $32 |
| 19 | Montana | $67,087 | $32 |
| 20 | North Carolina | $66,307 | $32 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Nokia | $98,345 | $47.28 | 2 |
| 2 | Medline | $94,103 | $45.24 | 14 |
| 3 | Pacifi | $93,905 | $45.15 | 3 |
| 4 | Patterson Companies | $92,815 | $44.62 | 3 |
| 5 | Berkshire Hathaway | $92,805 | $44.62 | 2 |
| 6 | Avon Product | $91,259 | $43.87 | 1 |
| 7 | Amgen | $88,794 | $42.69 | 4 |
| 8 | Marathon Petroleum | $88,296 | $42.45 | 17 |
| 9 | Lemonade | $87,993 | $42.30 | |
| 10 | Intel | $87,332 | $41.99 | |
| 11 | ResMed | $87,021 | $41.84 | 3 |
| 12 | Wellpath | $84,916 | $40.83 | 8 |
| 13 | Westat | $84,750 | $40.75 | |
| 14 | TXU Energy Retail Company | $84,526 | $40.64 | |
| 15 | Spirit AeroSystems | $83,539 | $40.16 | |
| 16 | Parsons | $82,952 | $39.88 | 19 |
| 17 | Accenture | $82,537 | $39.68 | 53 |
| 18 | Thomson Reuters | $81,576 | $39.22 | 3 |
| 19 | Infineon Technologies | $80,862 | $38.88 | |
| 20 | Nationwide | $80,500 | $38.70 | 24 |
A good pricing specialist job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a pricing specialist job description:
There are various strategies that you can use to find the right pricing specialist for your business:
To successfully recruit pricing specialists, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the pricing specialist candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
Once that's done, you can draft an onboarding schedule for the new pricing specialist. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
There are different types of costs for hiring pricing specialists. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new pricing specialist employee.
The median annual salary for pricing specialists is $73,472 in the US. However, the cost of pricing specialist hiring can vary a lot depending on location. Additionally, hiring a pricing specialist for contract work or on a per-project basis typically costs between $23 and $53 an hour.