Senior pricing analysts' position primarily involves developing pricing strategies to optimize sales and profit margins for their company. This involves researching their industry and market, analyzing customer habits and behaviors, and determining the optimal operations to maximize profits. Tasks performed by these analysts include tracking a number of business metrics for analysis, price testing, communication with partners and other departments, and determining optimal marketing practices. Senior pricing analysts are required to carefully document and present the findings to executives and other management teams.
These professionals generally work indoors in an office environment. They often work independently, but communication and collaboration with other departments is important. Additionally, the company may also require teleconferencing or travel to remote locations. Physical requirements are generally limited to working on computers and moving around the office.
Senior pricing analyst positions are common within many service and product providers, ranging from smaller businesses to large corporations. Some industry-specific positions may require specific knowledge or training. The general requirements for this position include at least a bachelor’s degree, typically in accounting, finance, business, or a related field. This is usually a senior-level position that requires at least five years of relevant experience.
Sr. Pricing Analyst Tasks
Track and monitor manufacturing and distribution costs.
Calculate costs, gross returns, and estimates for various production models and timings.
Analyze competitors, material, and other costs and market demand to develop pricing models.