Pricing Analyst in Minneapolis, Minnesota Salary
How much does a Pricing Analyst make in Minneapolis, MN? The average salary for a Pricing Analyst in Minneapolis is $55,402 per year. This is 1% higher than the national average for a Pricing Analyst which is $54,988 per year. Salaries for a Pricing Analyst in Minneapolis range from $44,698 per year to $71,099 annually. Total Annual Pay, which includes salary, bonus, and overtime for a Pricing Analyst in Minneapolis ranges from $34,284 to $71,091 annually. Among those reporting, there is an average job satisfaction rating of 4 out of 5 stars. In Minneapolis, men make up the majority of the workforce (69 percent). Many report receiving medical and dental benefits from their employer.
|Salary||$44,698 - $71,099|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$34,284 - $71,091|
|Total Pay (||$34,284 - $71,091|
Job Description for Pricing Analyst
Pricing analysts study pricing to determine the best target price for their business. While many businesses hire a full-time pricing analyst, some are hired as consultants to work on a single project or for a short amount of time.Read More...
Pricing analysts are expected to determine the best price point of a service or product for their business. They examine the competition and industry standards, identifying any specific strategies that the competition is using. They may graph data indicating pricing trends over time, which help determine if a company can charge more at a specific time of year or during a certain season. This information can also help the company identify the best time to roll out a new product or concept.
While tracking consumer habits is an important aspect of the pricing analyst’s job, they must also observe the internal costs of a product or service. They must take note of the cost it takes to develop, make, and package a product, as well as marketing costs. The quality of a product or service may also increase the price that a consumer is willing to pay.
Pricing analysts typically hold at least a bachelor's degree in business or a related field. Pricing analysis is a specialized field, so people generally do not enter in an entry-level position; pricing analysts are usually employees who have been with a company for many years and receive targeted training to help them work as effectively as possible. (Copyright 2017 PayScale.com)
Pricing Analyst Tasks
- Identify, scope and execute strategic price process improvement projects.
- Proactively communicate metrics and project objectives, status, barriers and results to all levels of the organization.
- Work with cross functional teams to define floor, target and ceiling pricing for project job components.
- Scope the issue then define, build and implement solution to measure price effectively.
Pricing Analyst Job Listings
Key Stats for Pricing Analyst
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