Securing the funds that your company needs is what your job is all about as a funding specialist. As part of this effort, a funding specialist may be involved in determining funding needs and different ways to acquire funding.
Many funding specialists also specialize in making sure that all the paperwork related to funding is in place, including ensuring client information is properly submitted in work orders and notifying clients of financial responsibility if necessary. Funding specialists must also gather information for funding packages and ensure the completeness and accuracy of any documentation needed to secure authorizations for equipment and services.
If you'd like to be a funding specialist, you need to be a dedicated, punctual, detail-oriented person. That's because you'll frequently need to obtain timely authorizations and meet strict deadlines. You also need to have strong mathematical, analytical, and problem-solving skills. To become a funding specialist, you'll typically need a high school diploma or equivalent, plus some work experience with loans.
What is a Funding Specialist?
What Does a Funding Specialist Do
There are certain skills that many funding specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, communication skills and math skills.
How To Become a Funding Specialist
If you're interested in becoming a funding specialist, one of the first things to consider is how much education you need. We've determined that 60.6% of funding specialists have a bachelor's degree. In terms of higher education levels, we found that 6.5% of funding specialists have master's degrees. Even though most funding specialists have a college degree, it's possible to become one with only a high school degree or GED.
Funding Specialist Career Paths
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a funding specialist can determine their career goals through the career progression. For example, they could start out with a role such as specialist, progress to a title such as team leader and then eventually end up with the title practice manager.
Average Salary for a Funding Specialist
What Am I Worth?
States With The Most Funding Specialist Jobs
Mouse over a state to see the number of active funding specialist jobs in each state. The darker areas on the map show where funding specialists earn the highest salaries across all 50 states.
Number Of Funding Specialist Jobs By State
| Rank | State | Number of Jobs | Average Salary |
|---|---|---|---|
| 1 | California | 2,971 | $62,399 |
| 2 | Texas | 2,261 | $47,289 |
| 3 | Florida | 1,779 | $48,453 |
| 4 | New York | 1,530 | $42,811 |
| 5 | Illinois | 1,286 | $37,916 |
| 6 | Pennsylvania | 1,251 | $46,355 |
| 7 | North Carolina | 1,134 | $42,151 |
| 8 | Ohio | 996 | $37,445 |
| 9 | Georgia | 970 | $42,336 |
| 10 | Virginia | 947 | $42,399 |
| 11 | Arizona | 889 | $50,565 |
| 12 | Massachusetts | 840 | $44,886 |
| 13 | Michigan | 811 | $38,834 |
| 14 | New Jersey | 783 | $55,543 |
| 15 | Maryland | 737 | $42,831 |
| 16 | Washington | 716 | $36,239 |
| 17 | Colorado | 660 | $36,514 |
| 18 | Minnesota | 653 | $33,943 |
| 19 | Indiana | 614 | $37,567 |
| 20 | Missouri | 542 | $35,128 |
| 21 | Tennessee | 515 | $37,752 |
| 22 | Oregon | 429 | $46,475 |
| 23 | Iowa | 421 | $37,394 |
| 24 | Wisconsin | 409 | $38,628 |
| 25 | South Carolina | 368 | $39,047 |
| 26 | Alabama | 363 | $35,594 |
| 27 | Utah | 353 | $37,701 |
| 28 | Kansas | 330 | $42,119 |
| 29 | Kentucky | 321 | $36,188 |
| 30 | Connecticut | 300 | $47,527 |
| 31 | Louisiana | 290 | $49,173 |
| 32 | Oklahoma | 272 | $38,416 |
| 33 | Nebraska | 268 | $32,933 |
| 34 | Nevada | 250 | $55,203 |
| 35 | Arkansas | 222 | $37,767 |
| 36 | New Mexico | 200 | $40,727 |
| 37 | New Hampshire | 174 | $34,765 |
| 38 | Idaho | 172 | $39,601 |
| 39 | Mississippi | 172 | $40,672 |
| 40 | Delaware | 157 | $49,231 |
| 41 | North Dakota | 157 | $32,226 |
| 42 | Maine | 155 | $36,510 |
| 43 | Hawaii | 153 | $63,620 |
| 44 | Rhode Island | 143 | $49,455 |
| 45 | South Dakota | 132 | $32,748 |
| 46 | West Virginia | 131 | $38,659 |
| 47 | Montana | 124 | $30,409 |
| 48 | Alaska | 110 | $46,157 |
| 49 | Wyoming | 99 | $31,659 |
| 50 | Vermont | 84 | $35,338 |
Top Colleges for Funding Specialists
1. Western Carolina University
Cullowhee, NC • Private
2. University of Southern California
Los Angeles, CA • Private
3. University of Pennsylvania
Philadelphia, PA • Private
4. San Diego State University
San Diego, CA • Private
5. Georgetown University
Washington, DC • Private
6. Ball State University
Muncie, IN • Private
7. New York University
New York, NY • Private
8. Northwestern University
Evanston, IL • Private
9. Howard University
Washington, DC • Private
10. Bowling Green State University
Bowling Green, OH • Private
Top Skills For a Funding Specialist
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 11.2% of funding specialists listed data entry on their resume, but soft skills such as organizational skills and communication skills are important as well.
Choose From 10+ Customizable Funding Specialist Resume templates
Zippia allows you to choose from different easy-to-use Funding Specialist templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Funding Specialist resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Funding Specialist Demographics
Funding Specialist Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among funding specialists, 63.1% of them are women, while 36.9% are men.
- The most common race/ethnicity among funding specialists is White, which makes up 73.9% of all funding specialists.
- The most common foreign language among funding specialists is Spanish at 60.0%.
Work Experience Programs For Funding Specialists
Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!
Company: Herbert Smith Freehills
Cost: Free
Duration: 5-6.5 hours
Company: Goldman Sachs
Cost: Free
Duration: 4-5 hours
Company: Standard Bank
Cost: Free
Duration: 5.5 hours
Company: Fidelity International
Cost: Free
Duration: 5 hours
Online Courses For Funding Specialist That You May Like
Adjusting entry creation, posting adjusting entries to a worksheet, creating financial statements from the trial balance...
Learn the complete accounting cycle -recording business transactions to presenting the Balance Sheet & Income Statement...
I am an award winning finance professor with work experience modeling companies @Goldman Sachs, hedge fund Citadel & VC...
Best States For a Funding Specialist
Some places are better than others when it comes to starting a career as a funding specialist. The best states for people in this position are Hawaii, California, New Jersey, and Nevada. Funding specialists make the most in Hawaii with an average salary of $63,620. Whereas in California and New Jersey, they would average $62,399 and $55,543, respectively. While funding specialists would only make an average of $55,203 in Nevada, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Hawaii
$63,620
Avg. Salary
2. Nevada
$55,203
Avg. Salary
3. Arizona
$50,565
Avg. Salary
How Do Funding Specialist Rate Their Jobs?
Top Funding Specialist Employers
Most Common Employers For Funding Specialist
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | Fifth Third Bank | $89,598 | $43.08 | 29 |
| 2 | State Street | $72,041 | $34.64 | 10 |
| 3 | AIG | $71,262 | $34.26 | 17 |
| 4 | Reliance Trust | $68,713 | $33.04 | 12 |
| 5 | Merrill Lynch | $64,312 | $30.92 | 15 |
| 6 | Citi | $58,833 | $28.29 | 25 |
| 7 | JPMorgan Chase & Co. | $50,055 | $24.06 | 35 |
| 8 | TD Auto Finance | $49,503 | $23.80 | 11 |
| 9 | BMW Financial Services | $48,747 | $23.44 | 12 |
| 10 | Dst Inc | $48,747 | $23.44 | 11 |
Funding Specialist Videos
