ABBOTT LABORATORIES Pricing and Contracting Analyst - Structural Heart Salary in the United States

How much does a Pricing and Contracting Analyst - Structural Heart make at companies like ABBOTT LABORATORIES in the United States? The average salary for Pricing and Contracting Analyst - Structural Heart at companies like ABBOTT LABORATORIES in the United States is $108,838 as of March 26, 2024, but the range typically falls between $93,997 and $123,680. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.  View the Cost of Living in Major Cities2

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What does a Pricing and Contracting Analyst - Structural Heart do at companies like ABBOTT LABORATORIES?

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 103,000 colleagues serve people in more than 160 countries.

Primary Job Function

Working in support of the Medical Devices US Sales Division, the Business Analyst will interface with Sales, Sales Management, Sales Operations, Marketing, and Finance to apply business management principles and financial concepts that maximize the company’s performance against sales and profit goals and minimize risk.  Position will support the stand-alone facilities and local Integrated Delivery Networks (IDNs) within Medical Device Division of Structural Heart (SH).  The ideal candidate must proactively research, analyze, and interpret data to produce substantiated recommendations and to work effectively in a high-pressure, high-demand sales support environment. 
 

Core Job Responsibilities

  • Pricing Strategy Development and Decision Making.
  • Contract Development and Execution.
  • Customer-service oriented mind frame and skill sets to support the field sales team and their price/contract needs.
  • Supports the Strategic Pricing and Contracting Manager with the development and implementation of price approvals / financial impact analysis and contract creation / maintenance.  Work within audit guidelines for contract approval and contract creation.
  • Must have well-honed sense of urgency and ability to work under pressure.
  • Works directly with field sales and assists with deal evaluation and creation of analytical deliverable from master financial model.
  • Assists with training field sales, typically on a day-to-day, deal-to-deal basis, on tools, policies, and procedures.
  • Perform quantitative analysis and provide recommendations and consultative support to area and regional Sales Leaders to achieve desired goals.
  • Execute analysis of net contract sales, market share, and contract pricing.
  • Owns contract creation from start to finish – collaborative effort with sales team to define price needs, analysis to determine financial impact, execution of required internal review for price approval, documentation of proper approval, and final creation of outbound contract offering to end customer (inclusive of Consignment Agreements). 
  • Review and redline business terms and coordinate with Legal on contract redlines.
  • Execution of formal requests for proposals (RFP)s that may be needed in the of customer-specific contract templates and special formatting and information required of the RFP, including product cross references.
  • Perform comparisons to industry/company benchmarks to identify contracting opportunities and best practices.
  • Provides reports and analysis to department and senior management as requested.
  • Along with business operations partners, execute improvement programs to streamline the flow of various system operations.
  • Follows all management approved processes and procedures; alerts management when circumstances require deviation to the approved processes and procedures.

Supervisory/Management Responsibilities

  • None

Position Accountability / Scope

  • Reports to Manager, Strategic Pricing and Contracting
  • Role will be based out of Austin, TX or Alpharetta, GA

Minimum Education

  • Bachelor’s degree
  • A 4-year college degree and three to five years’ experience in business, financial, or strategic pricing and contracting is required. 
  • Desired Qualification:  Preferred degree in Finance, Industrial Engineering, or Business (or work experience equivalent to the knowledge obtained in one of these fields).  Advanced degree in business, previous experience in the medical device industry, and Six Sigma green belt or black belt certification a plus. 

Minimum Experience/Training Required

  • Minimum of 3 - 5 years of experience in business, finance or strategic pricing and contracting is required.
  • Excellent written and oral communications skills with attention to detail, ability to work under pressure, ability to work with general supervision, must be autonomous.
  • Leadership, problem solving, and negotiation skills
  • Strong analytical, strategic and problem-solving skills required
  • Proficient in the use of MS Word, Excel, SAP, Business objects and PowerPoint presentations
  • Demonstrated ability to work seamlessly with remote sites & business partners including building relationship with Sales personnel to be highly effective
  • Demonstrated ability to manage multiple projects simultaneously
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$93,997 Low Average $108,838 High $123,680

Understand the total compensation opportunity for Pricing and Contracting Analyst - Structural Heart at companies like ABBOTT LABORATORIES, base salary plus other pay elements

Average Total Cash Compensation

Includes base and annual incentives

$93,997
$123,680
$108,838
The chart shows total cash compensation for the ABBOTT LABORATORIES Pricing and Contracting Analyst - Structural Heart in the United States, which includes base, and annual incentives can vary anywhere from $93,997 to $123,680 with an average total cash compensation of $108,838. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
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