Pricing Consulting

Pricing Analyst Job Description Template

Pricing analysts inform their businesses with analytics around the profitability of their products and services, in addition to building strategies on how to correctly price them.

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Ever wondered why:

  1. Products are priced with a 0.99 denomination instead of rounded up?
  2. Supermarkets stock their own-brand goods on the bottom shelf?
  3. An incredibly expensive item will be shown at the top of a menu, followed by more “reasonably” priced ones?

That will have been a decision made by a pricing analyst, a role in a company that manages the delicate art of balancing economics and psychology. They will have a complete understanding of all the inputs needed to cost and mark up a product and how to marry them with the company’s desired margins and consumers’ willingness to pay. Within B2B and/or service-selling positions, the pricing analyst may also be deployed dynamically within the negotiation of contracts. As such, they can often be a direct member of the sales team.

In competitive and segmented markets, there are many demographics and psychographics of customers that exist. As a result, uniform and static pricing can be both uncompetitive and unprofitable. There will exist opportunities for price discrimination and seasonal flux to boost margins. The pricing analyst must monitor all facets of this market and understand the implication of pricing on both the customers and competition.

Pricing Analyst - Job Description and Ad Template

Copy this template, and modify it as your own:

Company Introduction

{{Write a short and catchy paragraph about your company. Provide information about the company’s culture, perks, and benefits. Mention office hours, remote working possibilities, and anything else that makes your company interesting.}}

Job Description

The pricing analyst is a key resource to provide pricing solutions to {{company name’s}} customers through the sales and account management channels. The pricing analyst uses information resources regarding customer needs, historical data, market conditions, and internal margin/revenue targets to {{prepare pricing quotes and/or internal proposals regarding pricing strategies for future campaigns/seasons/segments}}.

Responsibilities

  • Develop and maintain pricing tools {{for example: elasticity of demand calculators}} and profitability models

  • Grow total gross margin dollars by identifying pricing actions that encourage higher sale values, conversion rates, inelasticity, margin rates, and customer satisfaction

  • Forecast margins to help the business understand the impact of promotional and seasonal pricing

  • Monitor input costing changes and develop sensitivity analysis thresholds to provide reporting on potential changes to finished {{product/service}} prices

  • Present pricing analysis at a monthly strategy meeting, with insights, trends, and suggestions

  • Communicate and help implement pricing changes bi-directionally through the command chain

  • Lead pricing-related projects including establishing timelines, defining deliverables, and drafting communications or presentations

  • Maintain knowledge and stay abreast of developments in the industry via information obtained from financial publications and services, government agencies, company sources, and personal interviews

  • Assist R&D efforts with market views and feedback

  • {{Add other relevant responsibilities here}}

Skills and Requirements

  • Bachelor’s degree in finance, operations, research, statistics, math, economics, or related analytical discipline preferred

  • Financial management experience with planning, forecasting, and business analysis

  • Experience within {{preferred industry}}

  • Work cross-functionally throughout the organization to drive analysis-driven change

  • Demonstrates complex problem resolution proficiency and the ability to identify/implement process and system enhancements

  • Proficiency with analytical and presentation tools {{(Excel pivot tables, SQL queries, graphing, PowerPoint)}}

  • In-depth knowledge of BI tools {{(Tableau, Cognos, Business Objects or SPSS)}} and practical experience analyzing data, program metrics, and performance

Recent Pricing Consulting Articles by Toptal Finance Experts

How to Hire a Great Pricing Consultant

Pricing is the subtlest of financial decisions. In a world where online options have empowered customers more than ever, companies wrestle with how a slight rise or drop could translate into real growth or devastating losses. Hiring pricing consultants with the right understanding of your company, your product, and your customers can make all the difference. Here's how to find them.

Read Hiring Guide

Hire a Top Pricing Consultant Now

Toptal is a marketplace for top pricing consultants, experts, and specialists. Top companies and startups hire pricing analysis freelancers from Toptal for their mission critical projects.

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William H. White

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Will is an executive consultant with a wealth of experience supporting startups and mid-sized business growth. He has successfully led M&A transactions for $350 million, developed pricing and GTM strategies for emerging-technology startups, and supported clients through VC pitches. Will has a genuine passion for helping businesses navigate volatility, uncertainty, complexity, and ambiguity (VUCA) to fundraise, refine their strategy, and ultimately accelerate growth.

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Dalibor is a CFO who has led management teams at companies with annual sales ranging from $25-$80 million, including Lafarge. He has spent 16 years in corporate finance, investment management, pricing management, and business development with specific expertise in construction materials, agriculture, and food industries. Dalibor sees freelancing as an opportunity to apply and leverage his experience to a range of business fields.

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Noman is an MBA and CPA qualified professional with over 15 years of experience. He's a dependable and focused professional with strong interpersonal, communication, problem-solving, and leadership skills. Noman specializes in forecasting, annual operating plans, sales planning, financial analysis to support strategic goals, close periods, internal controls, and internal audits.

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Pala is an award-winning entrepreneur who founded three tech companies, growing one to 250+ people and leading another to an exit that generated a 16x return. He serves on the boards for startup and growth-stage eCommerce, market research, job pairing, and analytics companies. Pala has expertise in business strategy, financial models, marketing, customer, competition research and analytics, go-to-market and pricing strategies, and growth consulting.

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Alexandros Siormpas

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Alexandros is a highly committed and results-driven pricing professional with a track record of significant top and bottom-line impact across Tier 1 eCommerce, marketplaces, and consumer goods businesses (Samsung, Philips, and eBay). He now freelances to contribute his 10+ years of deep expertise in engaging and challenging pricing and financial modeling projects.

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Michael Ang

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An MIT MBA graduate, Michael served large corporations at Bain and helped build new businesses at firms backed by top-tier VCs (Kleiner Perkins, Mayfield, Softbank). He's led pricing work at a Silicon Valley firm acquired for $185 million and joined Toptal to work on challenging business problems. His work has led to the discovery of multimillion-dollar business optimization opportunities and contributed to a client’s multi-fold revenue increase.

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Michael Yarmo

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As an experienced investment banker, Mike has led the M&A, raising capital, and balance sheet restructuring of dozens of mid-sized North American-based companies. Before his investment banking career, Mike was the president and majority owner of a multi-million dollar frozen foods manufacturer sold to a competitor after doubling the revenue and asset base. Mike has left investment banking to focus on his other investments and working on exciting new projects.

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Julio C. Ortiz

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United StatesFreelance Pricing Consulting Consultant Since February 18, 2021

Julio has diversified experience as a finance VP for multinationals based in the US and Latin America in the financing, pharmaceutical, luxury goods, and personal care sectors and distribution channels, such as retail, wholesale, and travel retail. Julio's expertise includes financial planning and modeling, investment banking, commercial real estate, fundraising, business plan development, logistics, company valuation, and strategic and visionary leadership based on innovation and creativity.

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