We are pleased to share the third edition of Totum’s Pricing Report. We hope you enjoy the report and find it useful and engaging. We also wish to thank everyone who participated in the survey for making it as informative as it is.

When we first launched Totum’s pricing report in 2018, pricing was emerging as a key area of focus within firms: growing in headcount, structure, and strategic influence. Since then, the function has continued to evolve rapidly, playing an increasingly pivotal role in shaping commercial success. In this latest edition, we explore how pricing teams are developing, the skills in highest demand, and the trends redefining this critical discipline today.

As the pricing function continues to evolve, so does our report. Our insights now reflect a majority of respondents at larger firms, with  91% reporting a global revenue of more than £201m per year. This year’s survey has a higher number of respondents from the biggest firms than before, with nearly half (47%) coming from firms with a global revenue of more than £1bn, compared with 21% in 2022.

Key highlights:

• In our 2022 report, the average headcount in the pricing function was seven –  almost doubled from four in 2018. This year, an equal number of firms report having between 4-6 employees (31%) and 7-9 (31%).
• According to our survey, 91% believe commercial/strategic thinking will be a key future skill, 56% see internal relationship management as vital, and 50% view the ability to engage and work with clients as a key future capability.
• As the function has grown, the impact of data, more sophisticated pricing software and an increased focus on strategic and value-based pricing has seen the function’s remit move from one of number cruncher to trusted advisor.
• Despite the breadth of other responsibilities facing the pricing leader, one particular focus stands out – this being commercial finance. 
• We have seen pricing teams transform from less generalist positions to more specialists roles as the function grows. More than two-thirds (69%) of pricing team members are now in pricing-specific roles, with just 24% having a combined remit. This is a significant change from our 2022 survey, which had a fairly even spread between specific (50%) and combined (43%).
• At Totum, we have seen a trend in US firms placing pricing leaders in the UK, specifically in London. This was reflected in our survey, with the US being the most common geographic location for overseas-based pricing employees (65%), followed by Europe (35%) and then Asia (24%) and Australia (24%).
• At Totum, we’re seeing a consolidation in the pricing market, with teams having grown sufficiently over recent years and now needing to bed in. In light of this new trend, our survey reports a third of firms are not expecting their pricing teams to grow in the next 12 months.
• Another significant pricing recruitment trend is an ongoing need to hire from outside of legal. In 2022, 61%  of respondents had recruited from outside the sector. In 2025, the percentage has grown to 74%.
• Just 13% currently use AI to analyse pricing data, with the vast majority (64%) planning on implementing AI in the next 6-24 months.

For more insights from top pricing leaders and more data around salary and bonuses, read our full Pricing Report 2025 here.

If you’d like to discuss the survey in more detail or if you’re a firm seeking to hire, or a candidate exploring your next opportunity in finance, please contact either [email protected] or [email protected]