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Career Story: Strategic Pricing Analyst For A Biomedical Products Company

Strategic Pricing Analyst For A Biomedical Products Company

Job Title: Strategic Pricing Analyst

Type of Company: Our company manufactures and markets glass and plastic life sciences products for research.

Education: BS, Marketing, Bentley College

Previous Experience: I started my career as a marketing assistant for an insurance company then moved into an office manager role. I switched into working for a life sciences company eight years ago, starting as a marketing specialist. I was subsequently promoted to marketing project manager, assistant product manager and strategic pricing analyst, the job I do today.

Job Tasks: One of my current responsibilities is to manage pricing contracts between our sales reps and customers/distributors. I do this by reviewing and analyzing the incoming contracts and making sure they adhere to our established pricing policy guidelines. Another key functions is managing our yearly price change, which includes both our list prices (the equivalent of a suggested retail price) and our distributor prices (the cost we sell our products to distributors for). I manage all of the activities related to this annual task by working with product managers (who are each responsible for pricing their own product line) and our channel team (who are responsible for managing our distributor price contracts). I also work with IT to load subsequent price lists into our internal system for order taking.

I'm also responsible for other ad hoc activities related to pricing and analysis for our marketing and sales departments. Currently I'm working on a large project aimed at implementing a new pricing process and new support software. This project uses Six Sigma, which is a project model for achieving performance excellence. The project is high-profile in that our entire division -- my company has four core divisions; life sciences is just one of them -- is counting on it to ensure accurate pricing in the marketplace and to require less manual work for the people who are affected by pricing daily.

Best and Worst Parts of the Job: The best part of my job is that it's flexible. I'm able to work just twenty-five and a half hours a week with little to no travel. I can work from home if necessary. I also have pretty good job security because I'm one of only two employees (other than my manager and temporary help) in my department. As pricing becomes more of a high-profile issue in this tough economy, I'm in a position to demonstrate key analysis skills and get recognized by my company as a valuable contributor.

The worst part of my job is that there's little room for growth and the tasks (to me) are boring.

Job Tips: If anyone wanted this job as a source of decent income and needed the flexibility of being able to make your own hours and possibly work from home at times, it's a great job to pursue. Knowing Excel inside and out is key for this position. It's not really math, but functionality and knowing a few basic equations that will make your job easier.

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