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.

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Pricing Specialist Responsibilities

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

  • 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.
  • Review all OFAC hits and process all false hits.
  • Research and clear quality issues for FHA and conventional loans.
  • Scan bar codes of all merchandise for POS and inventory purposes.
  • Train new associates on all company standards, sales goals and POS.
  • Balance HUD-1 before sending the wire or authorizing funding and resolve post-closing issues.
  • Support the sales teams in delivering pricing for RFP responses and non-RFP sales opportunities.
  • Utilize VBA programs to extract data from vendor database for the client's use.
  • Create formal request for proposals (RFP) for cost reduction and improvement in serviceability.
  • Facilitate and complete all RFQ's to maintain current customers as well as gain new business.
  • Used the FHA connection to retrieve FHA numbers as well as disbursing funds to FHA for FHA insurance.
  • Maintain and enter costing in AS400 to be calculate depending on where the product are picked up from vendors.

Pricing Specialist Job Description

When it comes to understanding what a pricing specialist does, you may be wondering, "should I become a pricing specialist?" The data included in this section may help you decide. Compared to other jobs, pricing specialists have a growth rate described as "much faster than average" at 20% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of pricing specialist opportunities that are predicted to open up by 2028 is 139,200.

A pricing specialist annual salary averages $73,472, which breaks down to $35.32 an hour. However, pricing specialists can earn anywhere from upwards of $48,000 to $111,000 a year. This means that the top-earning pricing specialists make $40,000 more than the lowest-earning ones.

As is the case with most jobs, it takes work to become a pricing specialist. Sometimes people change their minds about their career after working in the profession. That's why we looked into some other professions that might help you find your next opportunity. These professions include an operations internship, business developer, operations coordinator, and operations associate.

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Pricing Specialist Skills and Personality Traits

We calculated that 11% of Pricing Specialists are proficient in PowerPoint, Work Ethic, and Pricing Strategy. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.

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

  • PowerPoint, 11%

    Analyzed business results data and communicated the results using Word documents and PowerPoint presentations for many programs within the organization.

  • Work Ethic, 10%

    Exhibit well-rounded and strong work ethic with ability to work quickly and productively with different personalities.

  • Pricing Strategy, 8%

    Participated in pilot programs that evaluated the effectiveness of the corporate pricing strategy.

  • Data Entry, 7%

    Followed established data entry procedures and policies to provide good system control and backup files to safeguard company information.

  • Customer Service, 6%

    Operated cash management system in a timely, friendly, professional manner placing high priority on delivering excellent customer service.

  • Strong Analytical, 6%

    Team player and individual contributor with strong analytical skills.

Choose From 10+ Customizable Pricing Specialist Resume templates

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Some of the skills we found on pricing specialist resumes included "powerpoint," "work ethic," and "pricing strategy." We have detailed the most important pricing specialist responsibilities below.

  • Analytical skills can be considered to be the most important personality trait for a pricing specialist to have. According to a pricing specialist resume, "market research analysts must be able to understand large amounts of data and information." Pricing specialists are able to use analytical skills in the following example we gathered from a resume: "complete comprehensive product line analysis for viability. "
  • Another trait important for fulfilling pricing specialist duties is communication skills. According to a pricing specialist resume, "market research analysts need strong communication skills when gathering information, interpreting data, and presenting results to clients." Here's an example of how pricing specialists are able to utilize communication skills: "check and change prices, clearance markdowns, provided quality customer service, effective communication, and team skills"
  • Pricing specialists are also known for detail oriented, 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 specialist resume: "market research analysts must be detail oriented because they often do precise data analysis." We also found this resume example that details how this skill is put to the test: "used historical data and engineering tasks and hardware descriptions to develop detailed estimates. "
  • See the full list of pricing specialist skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a pricing specialist. We found that 60.4% of pricing specialists have graduated with a bachelor's degree and 6.8% of people in this position have earned their master's degrees. While most pricing specialists 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 seven pricing specialists were not college graduates.

    The pricing specialists who went onto college to earn a more in-depth education generally studied business and accounting, while a small population of pricing specialists studied finance and marketing.

    Once you've obtained the level of education you're comfortable with, you might start applying to companies to become a pricing specialist. We've found that most pricing specialist resumes include experience from Deloitte, CCA Global Partners, and Intel. Of recent, Deloitte had 86 positions open for pricing specialists. Meanwhile, there are 24 job openings at CCA Global Partners and 18 at Intel.

    If you're interested in companies where pricing specialists make the most money, you'll want to apply for positions at Nokia, Medline, and Pacifi. We found that at Nokia, the average pricing specialist salary is $98,345. Whereas at Medline, pricing specialists earn roughly $94,103. And at Pacifi, they make an average salary of $93,905.

    View more details on pricing specialist 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 Apple, United States Army Corps of Engineers, and JPMorgan Chase & Co. These three companies have hired a significant number of pricing specialists from these institutions.

    The industries that pricing specialists fulfill the most roles in are the finance and professional industries. But the highest pricing specialist annual salary is in the finance industry, averaging $73,421. In the technology industry they make $72,107 and average about $68,241 in the manufacturing industry. In conclusion, pricing specialists who work in the finance industry earn a 72.6% higher salary than pricing specialists in the retail industry.

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

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    What Operations Internships Do

    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. They should possess skills like attention to detail, excellent verbal and written communication skills, and strong phone presence. The operations internship objectives include career path exploration, work experience, skills development and refinement, and confidence buildup. The majority of the activities interns are absorbed by the company where they serve an internship.

    We looked at the average pricing specialist annual salary and compared it with the average of an operations internship. Generally speaking, operations interns receive $40,115 lower pay than pricing specialists per year.

    While the salaries between these two careers can be different, they do share some of the same responsibilities. Employees in both pricing specialists and operations interns positions are skilled in work ethic, data entry, and customer service.

    These skill sets are where the common ground ends though. A pricing specialist responsibility is more likely to require skills like "powerpoint," "pricing strategy," "strong work ethic," and "excellent interpersonal." Whereas a operations internship requires skills like "operations intern," "patients," "project management," and "administrative tasks." Just by understanding these different skills you can see how different these careers are.

    Operations interns receive the highest salaries in the government industry coming in with an average yearly salary of $40,232. But pricing specialists are paid more in the finance industry with an average salary of $73,421.

    The education levels that operations interns earn is a bit different than that of pricing specialists. In particular, operations interns are 1.5% more likely to graduate with a Master's Degree than a pricing specialist. Additionally, they're 0.3% more likely to earn a Doctoral Degree.

    What Are The Duties Of a 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. They come up with new services that will boost customer satisfaction, examining the potential for revenue and figuring out new opportunities from trends or other pre-existing programs within the company. All of this is conducted according to the vision, mission, and policies of the organization.

    Now we're going to look at the business developer profession. On average, business developers earn a $28,163 higher salary than pricing specialists a year.

    Not everything about these jobs is different. Take their skills, for example. Pricing specialists and business developers both include similar skills like "work ethic," "customer service," and "market research" on their resumes.

    While some skills are similar in these professions, other skills aren't so similar. For example, several resumes showed us that pricing specialist responsibilities requires skills like "powerpoint," "pricing strategy," "data entry," and "strong analytical." But a business developer might use skills, such as, "healthcare," "crm," "excellent presentation," and "linkedin."

    On average, business developers earn a higher salary than pricing specialists. There are industries that support higher salaries in each profession respectively. Interestingly enough, business developers earn the most pay in the manufacturing industry with an average salary of $118,082. Whereas, pricing specialists have higher paychecks in the finance industry where they earn an average of $73,421.

    When it comes to the differences in education between the two professions, business developers tend to reach higher levels of education than pricing specialists. In fact, they're 5.9% more likely to graduate with a Master's Degree and 0.3% more likely to earn a Doctoral Degree.

    How an Operations Coordinator Compares

    An operations coordinator's role is to oversee the progress of various departments in a company or organization, ensuring that all operations meet the set goals and adhere to the company's policies and regulations. An operations coordinator may also be responsible for supervising the procurement of supplies, contract negotiations, sales monitoring, and even maintenance operations within the company. Furthermore, they can also perform administrative duties such as communicating with clients through telephone and email, arranging schedules and appointments, producing reports and evaluations, training new employees, and serving as the bridge of information between different departments.

    The operations coordinator profession generally makes a lower amount of money when compared to the average salary of pricing specialists. The difference in salaries is operations coordinators making $31,538 lower than pricing specialists.

    By looking over several pricing specialists and operations coordinators resumes, we found that both roles utilize similar skills, such as "powerpoint," "work ethic," and "data entry." But beyond that the careers look very different.

    Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from pricing specialist resumes include skills like "pricing strategy," "strong analytical," "strong work ethic," and "market research," whereas an operations coordinator might be skilled in "logistics," "excellent organizational," "patients," and "payroll. "

    Additionally, operations coordinators earn a higher salary in the government industry compared to other industries. In this industry, they receive an average salary of $43,723. Additionally, pricing specialists earn an average salary of $73,421 in the finance industry.

    When it comes to education, operations coordinators tend to earn similar education levels than pricing specialists. In fact, they're 0.9% more likely to earn a Master's Degree, and 0.2% more likely to graduate with a Doctoral Degree.

    Description Of an Operations Associate

    An operations associate is responsible for performing administrative and clerical tasks to support the organization's daily operations. An operations associate must have excellent organizational skills to perform various duties for different business functions under the supervision of an operations manager. Operations associates respond to clients' inquiries and concerns, prepare meeting reports, schedule appointments, assisting on payroll release, update employees' information on the database, process contract agreements, and help the senior management to identify business opportunities that would generate revenues.

    Now, we'll look at operations associates, who generally average a lower pay when compared to pricing specialists annual salary. In fact, the difference is about $20,769 per year.

    According to resumes from both pricing specialists and operations associates, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "powerpoint," "work ethic," and "data entry. "

    While some skills are shared by these professions, there are some differences to note. "pricing strategy," "market research," "rfq," and "rfp" are skills that have shown up on pricing specialists resumes. Additionally, operations associate uses skills like basic math, portfolio, math, and cleanliness on their resumes.

    Operations associates reach similar levels of education when compared to pricing specialists. The difference is that they're 0.4% more likely to earn a Master's Degree less, and 0.3% more likely to graduate with a Doctoral Degree.