Pricing Director Salary
For Pricing Directors, annual average wages total $116K per year. Career duration and the particular city each impact pay for this group, with the former having the largest influence. Almost all enjoy medical while a large number get dental coverage. Vision coverage is also available to a fair number. The majority of Pricing Directors claim high levels of job satisfaction. Male Pricing Directors are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. The figures in this rundown are based on the results of PayScale's salary questionnaire.
Job Description for Pricing Director
Pricing director jobs are generally classified as overhead administrative or sales positions. The pricing director is typically in charge of creating the pricing strategy for a specific product group or for all of the organization’s salable products. The main objective of the pricing director is to create, maintain, and discuss the pricing strategy of the organization and to keep the pricing strategy in line with the organization’s overall pricing structure and policies. Pricing directors work in a large variety of industries including construction, building materials, machinery, electronics, computers, and consumer goods, among others.Read More...
The pricing director is directly responsible for the implementation of the pricing strategy and associated best practices regarding price management, including the creation of price and costing models, the execution of the pricing strategy throughout all levels of the organization, and collaboration with organizational group and division leaders to be sure pricing remains consistent throughout the organization. Additionally, the pricing director is responsible for developing, communicating, and promoting all documentation related to the pricing structure and must ensure that the concepts are properly communicated to other employees of the organization. The pricing director generally manages a team of many different employees including the sales and pricing administration team, which is made up of pricing managers, coordinators, and analysts.
The pricing director's day-to-day responsibilities may vary depending on where they are in the price planning process, but they typically involve working with sales, marketing, and executives to plan out the pricing and market structure and how it will be applied in the current market. The pricing director also participates in the development of new strategies that help the organization grow its business and product lines, as well as maintains and develops the organization’s pricing database.
Pricing director jobs typically require a minimum of a bachelor’s degree in marketing, business management, or a related field, as well as at least eight to 10 years of previous experience. Previous experience with pricing development, strategy, structure, and implementation is required. Pricing directors must be familiar with relevant regulatory requirements and possess knowledge of the auditing procedures.
Pricing Director Tasks
- Develop models to aid sales department in appropriately pricing products and services.
- Design pricing strategies and discounting policies for company's products.
- Analyze market price trends to ensure product prices are set competitively.
- Communicate with product development, marketing, and sales departments to establish pricing policies for products.
Pricing Director Job Listings
Search for more jobs:
Pay by Experience Level for Pricing Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Pricing Directors, experience does not seem to be a major factor in determining pay. Respondents with less than five years' experience take home $100K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $118K. After working for 10 to 20 years, Pricing Directors make a median salary of $138K. Pricing Directors with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $148K.
Related Job Salaries
Key Stats for Pricing Director
Rated 5 out of 5
based on 17 votes.