You can define Prices (Billing Rate, Cost Rate) for Resources.  Here you define the prices for each resource with optional overwrite per Account, Project, etc. - check details.

Often, project pricing is based on Roles (e.g. Junior, Senior, Manager, ...). This allows for maintaining generic role rates rather than individual rates.  The role rates are used if no resource-specific rate is found.

Once set up, you can use the Rate Management page to easily view, create, and maintain resource prices easily.

Note, that the Role based price has the lowest priority.  If there is a price specified for a particular Resource, that will be used.  This allows to define fine-grained pricing.

Setup

Setup Roles

The role of a Resource is defined in the Resource record and overwritten with the role in the Project Allocation and the role in the Activity Type.

Resource Roles

in Setup > Picklist Value Set - edit Resource Roles

Add the names of the roles you are using.

You can specify a default Role.

Resource

For the individual Resource, select the typical Role in a project, etc.

Project Allocation

In the Project Allocation, you assign resources to a project.  Here, you can optionally overwrite the Role the user has in this specific Project.

Activity Type  

You can use the Activity Type to overwrite the Role of the user.

Role Prices

From any Resource record - or the Role Pricing resource - select the action Rate Management:

(Technically, the Role Pricing Resource owns all the role based prices; the resource is inactive and should not be changed)

Role Rates

In the Rate management (for any resource), click the Query Role button

You will see the defined and not-defined role rates.  Only the active Roles are displayed.

Just enter or update the Billing Rate and the Cost Rate (optional) and click the Create/Update button.

Project Role Rates

You can overwrite the Role rates for a particular project. In the Project record, select the action Rate Management

... and click the Query Role button

You will see the rates defined for the Role and you can enter/update the rates for the resource role and project.

Create Role Prices manually

You can create Role prices manually:

1) Go to the Resource with the name Role Pricing

2) Create a new Role Price via the dropdown butten New in the Resource Prices related list - or to modify click on any resource price (or clone an existing price)

Select a Resource Role (2) and the Billing Rate and optionally Cost Rate.

You can restrict the price to be valid only for an Account, Activity Type, ...