Pricing Analyst Job Description: Top Duties and Qualifications

A Pricing Analyst, or Cost Pricing Analyst, is responsible for determining the appropriate pricing for company products based on a variety of factors. Their duties include conducting market research to learn more about competitor pricing for similar items, reviewing previous sales data and company revenue needs and deciding a market price for a range of products based on their findings.

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Pricing Analyst Duties and Responsibilities

Pricing Analysts use mathematics and statistics to understand pricing. They typically have the following responsibilities:

  • Analyze pricing data from industry standards, previous sales trends and competitors and report data to decision-makers
  • Identify marketing strategies to increase profits
  • Develop measurement tools to identify changing market trends
  • Identify appropriate sales and clearance prices to increase customer traffic
  • Compare sales trends to previous periods and determine the cause for decrease or increase

Pricing Analyst Job Description Examples:

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Pricing Analyst

VetsEZ (Veterans EZ Info, Inc.), a verified Service-Disabled Veteran-Owned Small Business (Sdvosb), is a leading provider of information technology services to commercial and government markets. VetsEZ is a company of Subject Matter Experts with deep expertise in Healthcare IT and Benefits Delivery. VetsEZ strongly believes in making complexity EZ by providing tangible solutions that improve day-to-day business transactions, maximize efficiencies, eliminate risks, and reduce costs for our clients. For more information, visit us at [website] [website] VetsEZ is seeking a dynamic, energetic individual for the position of Proposal Pricing Analyst. This is a full-time remote position supporting our capture management team. The candidate must function in a fast-paced proposal environment and collaborate to develop pricing and win strategies while ensuring compliance and schedule adherence. Responsibilities: Develop pricing for proposal submissions by working closely with the capture manager, solutions architect, and proposal manager. Utilize quantitative and mathematical skills to provide effective financial modeling Develop and communicate potential pricing scenarios for consideration directly impacting company win rate Perform reviews of proposals priced by other pricing analysts for quality assurance purposes Utilize Microsoft excel for developing price volumes Prepare Schedule B tables and/or required customer templates for submission. Maintain complete files to include required supporting documentation Manage the distribution of pricing data calls to subcontractors and respond to pricing data calls by prime contractors Requirements: Bachelor's Degree in accounting, mathematical or related business field At least 2 years of pricing experience in pricing federal proposals A proven history working in a financial and/or accounting position Expert at using Microsoft Excel and Excel advanced features (Pivot Table, Functions, Vlookups, etc.) Experience and knowledge in developing pricing for CPFF, Fixed Price, T&M opportunities Familiarity with government contracting to include pricing, financial analysis, and contracts federal agencies such as VA, NIH, HHS, FDA, and DOD Detail-oriented, highly organized, with the ability to handle pricing for multiple proposals simultaneously Demonstrated ability to work in a fast-paced, deadline-driven environment handling multiple proposals simultaneously. Knowledge and deep understanding of Indirect rates Experienced in creating price to win strategies and competitor analysis Experienced in the government contracting FAR clauses and regulations Experienced in creating both small and large contract business proposals for federal government RFPs Experience with VA's T4NG pricing volumes is a huge plus. Benefits: 401k with Employer Match PTO + Federal Holidays Corporate Laptop Training opportunities Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status. Sorry, we are unable to offer sponsorship currently.
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Pricing Analyst

Ansys is the global leader in engineering simulation, helping the world's most innovative companies deliver radically better products to their customers. By offering the best and broadest portfolio of engineering simulation software, Ansys helps companies solve the most complex design challenges and engineer products limited only by imagination. Summary The Pricing Analyst is responsible for the analysis, reporting and execution of the pricing strategies in support of each Business Unit and Company pricing financial goals and objectives. The position is responsible for supporting pricing integrity (price accuracy) decision implementation across the entire pricing lifecycle including initial pricing, promotional pricing, and discounting. The Pricing Analyst supports the organization by data mining and presenting those findings as they build corporate strategies. Responsibilities
  • Provide reports and analysis on pricing, particularly with respect to the effect of pricing changes on sales volume and revenue
  • Conduct regional and customer-specific analysis
  • Support management decision making through analysis and process improvement
  • Produce financial models and projections, specifically for promotional programs, and present to management
  • Conduct Price/Volume/Mix, Discounting, and ad hoc analyses as needed by management
  • Evaluate market and competitive data to optimally align pricing strategies within the market space
  • Oversee historical promotional pricing programs, including up-front analysis and back-end reporting Minimum Qualifications
  • Bachelor's Degree in Accounting or Finance
  • 2-5 years of financial analysis experience
  • Strong analytical skills
  • Prior experience working with CRM systems, preferably Siebel or SalesForce
  • Advanced Microsoft Excel skills: vlookups, pivot tables, etc.
  • Strong organizational and project management skills, including the ability to meet demanding and evolving deadlines Preferred Qualifications
  • Experience developing and delivering presentations to various audience levels within an organization
  • Ability to effectively articulate insights and recommended actions
  • Prior experience building pricing models or analyzing promotional programs is beneficial
  • Advanced business or language degree is a plus Culture AND Values Culture and values are incredibly important to Ansys. They inform us of who we are, of how we act. Values aren't posters hanging on a wall or about trite or glib slogans. They aren't about rules and regulations. They can't just be handed down the organization. They are shared beliefs - guideposts that we all follow when we're facing a challenge or a decision. Our values tell us how we live our lives; how we approach our jobs. Our values are crucial for fostering a culture of winning for our company: Customer focus Results and Accountability Innovation Transparency and Integrity Mastery Inclusiveness Sense of urgency Collaboration and Teamwork Working AT ANSYS At Ansys, you will find yourself among the sharpest minds and most visionary of leaders, collectively aiming to change the world with innovative technology and remarkable solutions. With the prestigious reputation in servicing well-known, world-class companies, standards at Ansys are high, met by those willing to rise to the occasion and meet those challenges head-on. Because at Ansys, it's about the learning, the discovery and the collaboration. It's about the "what's next" as much as the "mission accomplished". It's about the melding of disciplined intellect with strategic direction and results that have, can and will impact real people in real ways, forged within a working environment built on respect, autonomy and ethics. At Ansys, you will find yourself among those eager to drive the world towards the next best thing with hands planted firmly on the wheel. Our team is passionate about pushing the limits of world-class simulation technology so our customers can turn their design concepts into successful, innovative products faster and at lower cost. As a measure of our success in attaining these goals, Ansys has been recognized as one of the world's most innovative companies by prestigious publications such as Bloomberg Businessweek and Fortune magazines. Ansys is an S&P 500 company and a component of the Nasdaq-100. For more information, please visit us at [website] Ansys is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other protected Ansys does not accept unsolicited referrals for vacancies, and any unsolicited referral will become the property of Ansys. Upon hire, no fee will be owed to the agency, person, or entity. Nearest Major Market: Pittsburgh
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    Pricing Analyst

    Job Description: Essential Job Functions Analyzes pricing requirements and creates pricing models in response to requests for proposals (RFPs) on all major types of contracts (Firm Fixed Price, Time & Materials, etc) for large and/or complex projects to ensure that adequate support is provided for business Leads project planning and analysis. Develops and maintains product and pricing information on business systems, and participates in the development of quotation and deal evaluation methods to ensure consistent use across business unit. Reviews analyses of RFPs to identify and approve pricing and contractual requirements to ensure feasibility of projects with respect to company costs and budget. Manages the development and production of cost volumes to meet company needs. Assists in ensuring that the company solution and financial provisions are consistent. Interfaces with all levels of operational staff in developing and pricing staffing profiles and coordinates subcontractor pricing targets and cost proposals. Works closely in coordination with members of the business development team in order to successfully address proposal requirements. Reviews various cost modeling methodologies, tools and techniques and software to determine appropriate uses and needs for upgrading. Determines pricing costs and creates and maintains departmental pricing reports. Analyzes and reports trends on pricing and develops recommendations based on findings. Supports all major phases of the solicitation process such as, specialized and/or more complex requests for information (RFI), complex RFP responses, and complex aspects of negotiations, to determine feasibility and areas of financial risk. Interfaces with vendors and merchandising associates to determine pricing costs and related information to ensure that all material is obtained in a cost-effective manner. Interfaces with customer contracting officials in responding to solicitations and performs due diligence on prospective clients and new outsourcing opportunities to enhance profit opportunities. Analyzes and monitors competitor pricing and/or data and recommends price changes to ensure competitiveness of proposals. Provides leadership and work guidance to less experienced personnel. Basic Qualifications Bachelor's degree or equivalent combination of education and experience Bachelor's degree in business administration, finance, accounting or related field preferred Twelve or more years of cost analysis accounting or pricing experience Experience working with company products and services Experience working with all phases of solicitation processes such as, request for information (RFI), RFP responses and negotiations Experience working with relevant programming languages and software to conduct pricing analyses Experience in negotiations, contracting, pricing and purchasing Other Qualifications Strong communication skills Strong analytical skills to identify and analyze cost factors for proposals Strong organization, time management and creative problem solving skills Good leadership skills to guide and mentor the work of less experienced personnel Ability to work with relational databases and business solutions software skills Ability to work independently and as part of a team Ability to create and maintain formal and informal networks Work Environment Office environment

    What Does a Pricing Analyst Do?

    Pricing Analysts typically work for corporations across industries to establish market prices for products that allow corporations to profit while also staying competitive. They work closely with the sales, marketing, finance and product engineering teams to determine how to price company products effectively. Their job is to evaluate product quality, competitor pricing and customer reviews to create appropriate market prices for products or services. They may also be responsible for establishing sales prices and working with the sales and marketing teams to develop ideas for seasonal sales opportunities.

    Pricing Analyst Skills and Qualifications

    Successful Pricing Analyst possess several skills and qualifications, including:

    • Analytical: Strong analytical skills are necessary to compare sales trends and determine market data.
    • Communication: Excellent written and verbal communication skills are important, as pricing analysts work with team members at all levels, including store associates, office staff and executive team members.
    • Detail-oriented: The ability to pay close attention to detail while remaining accurate is crucial in the analysis of large collections of data. 
    • Problem-solving: Pricing analysts use problem-solving skills to identify declining sales trends and devise strategies to improve them.

    Pricing Analyst Salary Expectations

    The average yearly salary for a Pricing Analyst is $60,984 per year. Pricing Analyst salaries may range depending on geographical location, the size of the organization and the experience of the analyst. A Pricing Analyst that works for a large organization making recommendations on pricing for large ticket items will typically earn more than one who works for a smaller company and is one of many analysts. The industry in which the analyst works will further affect salary expectations. Analysts who work in an industry with specialized business-to-business experience can expect to earn a higher salary.

    Pricing Analyst Education and Training Requirements

    A minimum of a bachelor’s degree is often a requirement to become a Pricing Analyst. Some hiring managers prefer that candidates have a master’s degree, especially if they will be in charge of the pricing for higher-priced items. Students interested in pricing analysis can expect to major in market research, business administration or finance. They can expect to take classes in statistics, mathematics, market research and marketing. Many students will receive industry training while completing an internship in their bachelor’s or master’s degree program.

    Pricing Analyst Experience Requirements

    Hiring managers will often expect candidates to have some previous experience as a pricing analyst. Previous experience working in a similar industry might also be a requirement. Some candidates will come from related industries like data research or finance. Entry-level Pricing Analyst might work on a team with other analysts as they develop important field skills and experience, and they may later take on additional responsibilities. They might also pursue a career as a Pricing Analyst in a different industry.

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    Frequently asked questions about Pricing Analysts

     

    What is the difference between a Pricing Analyst and a Marketing Analyst?

    The difference between a Pricing Analyst and a Marketing Analyst is their job focus and the types of environments they work in. For example, Marketing Analysts typically work as members of the marketing department. Their job duties include conducting market research to learn more about a company’s target audience and demographics. They also review marketing campaign data and compile reports regarding future marketing initiatives. 

    In contrast, Pricing Analysts typically work in collaboration with the marketing team and other departments. Their main focus is to conduct market research to determine the correct market price for company products.

     

    What are the daily duties of a Pricing Analyst?

    On a typical day, a Pricing Analyst starts by checking their email and voicemail to see if they have missed messages from members of the finance, sales or marketing departments. Throughout the day, they participate in meetings with customer service, sales, marketing and product engineering professionals to discuss revenue needs and changes to product pricing. 

    During downtime in their office, Pricing Analysts look at competitor pricing, consumer trends and customer feedback. They use this information to compile reports and confirm market prices for company products. They also take the time to review product materials and features to determine their market value.

     

    What qualities make a good Pricing Analyst?

    A good Pricing Analyst is someone who has an investigative nature. This quality inspires them to conduct market research and ask important questions to develop accurate pricing for products. They have excellent interpersonal communication, allowing them to work with different employees from a variety of departments including marketing, sales, finance and product engineering. Further, a good Pricing Analyst stays up-to-date on trends and competitors within their employer’s industry to aid their pricing decisions. 

    A good Pricing Analyst also follows an ethical code that motivates them to set price ranges for products that align with product quality and consumer needs.

     

    Who does a Pricing Analyst report to?

    Pricing Analysts report to different people depending on the organizational structure of their employer. For example, Pricing Analysts can report to the Sales Department Manager, Marketing Manager or Finance Manager. Pricing Analysts performing freelance work may report directly to the Sales or Marketing Director within a corporation.

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