Anyone here work in pricing?
Back in December I accepted an FP&A role at a F500 biotech company for after I graduate. About two weeks ago I received another phone call from HR saying they had a “networking” opportunity for me and set up a phone call with a finance manager in pricing.
I thought nothing of it, just a informational phone call, but today they called me again and the pricing manager wants me in her group.
I accepted the offer to go into pricing because it sounded more interesting to me. She basically said it’s a new team and that she currently doesn’t have anyone with a finance background or Excel skills, and she needs someone to help with the pricing models, and to be able to understand how each deal would actually affect the company from a financial standpoint.
Now, my internship was in FP&A and I don’t really have a clue what goes into being a pricing analyst. If there’s anyone that could give me a run down on the day to day, necessary skills, what I should brush up on before starting, etc. would be appreciated.
Hi Trader_Joe, check out these links:
If we're lucky, maybe I can guilt some users to help you out: Victoria-Salazar @cjwwalker1" Tiago.lopes.sequeira
Fingers crossed that one of those helps you.
To be a good pricing analyst, you need to have a good understanding of cost accounting principles and you should be good to great with Excel. I occasionally work on pricing efforts and the important thing is getting all the pieces of information necessary to accurately capture costs. This requires you to communicate with business development and operational leaders, which is great, because you usually gain exposure to senior leadership.
This is often true, but I've seen true pricing teams that dont touch costing. They leave all costing up to the accountants.
Pricing can be VERY different in healthcare because of regulation/governmental pricing. It is extremely crucial to the business and would be great to understand, but I dont know that I would like the bureaucracy of it all. Hopefully your experience doesnt mirror the pricing that I had seen at my previous F500 healthcare company.
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