Pricing Manager
Job Posting for Pricing Manager at Steptoe LLP
Steptoe LLP is seeking a Pricing Manager. This position will work with internal teams and lawyers to develop pricing proposals and manage matters to meet clients' business needs and maximize firm profitability. Work closely with lawyers and with administrative departments such as Finance, Accounting, Marketing and Business Development, New Business Intake, the General Counsel's Office, IT and others.
This position may be based in Chicago or Washington, DC.
Essential Functions
- Collaborate with lawyers to develop pricing strategies that help practice groups and teams win new business while maximizing firm profitability
- Model pricing and staffing scenarios for purposes of assessing alternative fee arrangements
- Track performance of matter economics, including work effort, write-downs, write-offs, vendor expenses, and profitability
- With Director of Pricing, manage the annual client rate setting process
- Manage and track performance of alternative fee arrangements
- Manage timekeeper rate setting process
- Work with LPM to identify relevant area of law and task codes in comparing historical matters for pricing purposes
- Assist lawyers with client analysis and reporting as needed
- Identify best practices and opportunities for streamlining and improving processes to support the Pricing function
- Stay abreast of industry trends
- Negotiate pricing agreements with clients when necessary
- Analyze historical pricing data to identify areas for improvement and optimization
- Prepare reports on pricing performance, profitability, and key performance indicators for presentation to senior management
- Lead pricing efforts in response to client RFPs/RFIs
- Apply critical thinking and creativity to problems requiring solutions
- Provide training and guidance to legal teams on pricing best practices and tools
- Educate and guide junior team members in efficiency and professional development
Non-Essential Functions
- Perform other tasks and projects, as assigned
Minimum Qualifications
- Bachelor's degree required. Five to seven years working in a law firm or professional services firm, preferably in areas related to pricing and legal project management; other similar work experience will be considered
Success Factors
- Outstanding client service skills and responsiveness
- Excellent written and oral communication skills
- High level of proficiency in financial modeling and sophisticated skills in manipulating data
- Strong analytical skills with the ability to synthesize multiple pieces of information clearly and concisely
- Strong organizational skills and attention to detail
- Ability to interact with all levels of the organization, employing a high degree of tact, diplomacy, and professionalism
- Ability to maintain strict confidentiality
- Ability to prioritize, juggle multiple tasks, and work in a fast-paced environment
- Must exhibit a high sense of urgency
- Must be team-oriented
- Must have a strong work ethic and the ability to work nights and weekends as necessary
- Advanced Excel skills; proficiency with Microsoft Word and PowerPoint
- Experience with database tools and financial reporting tools a plus
Work Environment
- Professional services environment
- Non-smoking environment
- Must be available to work beyond regular days and hours
- Must be able to work under tight deadlines & stressful situations
Steptoe LLP is an equal opportunity employer EOE/AA/Minority/Female/Disability/Veteran. All qualified applicants will receive consideration without regard to race, color, religion, gender, national origin, sexual orientation, gender identity and expression, marital status, mental or physical disability, genetic information, or any basis proscribed by applicable statutes.
Salary.com Estimation for Pricing Manager in Washington, DC
$96,776 to $125,088
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