What does a Pricing Analyst do?
A pricing analyst is responsible for analyzing competitor pricing matched with market expectations to determine the ideal target price for products of the business. Duties include providing thorough analytical breakdowns of pricing structures and sales funnels of similar competitor products and services and identifying specific strategies used in pricing models of the same. Reports are written in order to evaluate the findings and to propose the results to the relevant departments for effect. Depending on the company, pricing analysts may progress into managerial roles involving financial account management and analysis.
A bachelor's degree in business or a related field is often required to be a pricing analyst. As the job requires specialization and experience in the field, it is typical that pricing analysts possess strong working experience in the industry as a pricing analyst or in another relevant position dealing with competitor pricing and sales. Successful candidates often possess strong analytical and research skills with a keen eye for identifying opportunity.
- Perform competitor analysis on similar products and services
- Scope out opportunities based on market trends and industry condition
- Identify ideal pricing structures and sales funnels
- Draft strategic pricing plans and processes to improve existing projects
- Create reports reflecting metrics and project status, objectives and barriers
- Communicate findings effectively to relevant departments of the company
- Work with the sales and marketing team to define pricing structure for company products
- Address issues and concerns raised by team members relating to pricing suggestions
- Experience working as a pricing analyst in the same industry
- Strong knowledge about the industry including competitors and market trends
- Keen eye for identifying opportunity
- Strong analytical and research skills
- Excellent verbal and written communication skills
- Good negotiations and problem-solving skills
- Effective reporting and presentation skills
- Enthusiastic and proactive team player
- Able to sit in front of a computer screen for long hours every day
How much does a Pricing Analyst make?
Base Pay
Additional Pay
$87,358
/ yrPricing Analyst Career Path
Learn how to become a Pricing Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Pricing Analyst Insights
Ryak Consulting“This is one of the most flexible and profitable career paths i have ever been involved.”
The BLS Company“Great training provided that left you satisfied and knowing exactly what you needed to do.”
Zimmer Biomet“The job was enjoyable and the team I worked with become some of my closest friends.”
Dell Technologies“Career opportunity I needed to give 4 stars only because the good work done here is yet not rocognized abroad”
Poly“Good for people seeking long term and steady career path.”
Deloitte“Good Perks and benifits.”
DB Schenker“Good and experienced people to work with.”
PensionBee“As a growing company there is a lot of scope for promotion and career progression.”
Frequently asked questions about the roles and responsibilities of a Pricing Analyst
When working as a Pricing Analyst, the most common skills you will need to perform your job and for career success are Excellent Communication, Microsoft EXCEL, Microsoft Office Suite, Statistics, and Strategic Thinking.
- Financial Analyst
- Financial Manager
- Finance Manager
- Controller
The most common qualifications to become a Pricing Analyst include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.