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The differences between funding specialists and business developers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business developer has an average salary of $101,635, which is higher than the $43,459 average annual salary of a funding specialist.
The top three skills for a funding specialist include data entry, excellent organizational and ACH. The most important skills for a business developer are healthcare, CRM, and customer service.
| Funding Specialist | Business Developer | |
| Yearly salary | $43,459 | $101,635 |
| Hourly rate | $20.89 | $48.86 |
| Growth rate | -3% | 10% |
| Number of jobs | 47,806 | 193,469 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A Funding Specialist is in charge of facilitating the funding procedures of a company. They mainly function by identifying the funding needs of projects and programs, conducting extensive research and analyses, and developing plans and strategies to secure funding, all while adhering to the company's policies and regulations. Moreover, aside from planning, a funding specialist is also responsible for liaising with internal and external parties, establishing budget guidelines, preparing and processing documents, and resolving issues promptly and efficiently should any arise.
A business developer specializes in conducting in-depth business analysis and crafting various strategies that would not just help a business grow, but also strengthen client base and brand awareness. One of their primary responsibilities revolves around identifying areas in need of improvement. They come up with new services that will boost customer satisfaction, examining the potential for revenue and figuring out new opportunities from trends or other pre-existing programs within the company. All of this is conducted according to the vision, mission, and policies of the organization.
Funding specialists and business developers have different pay scales, as shown below.
| Funding Specialist | Business Developer | |
| Average salary | $43,459 | $101,635 |
| Salary range | Between $30,000 And $62,000 | Between $66,000 And $156,000 |
| Highest paying City | Urban Honolulu, HI | San Francisco, CA |
| Highest paying state | Hawaii | California |
| Best paying company | Northern Trust | Apple |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a funding specialist and a business developer in terms of educational background:
| Funding Specialist | Business Developer | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | Western Carolina University |
Here are the differences between funding specialists' and business developers' demographics:
| Funding Specialist | Business Developer | |
| Average age | 44 | 44 |
| Gender ratio | Male, 36.9% Female, 63.1% | Male, 65.8% Female, 34.2% |
| Race ratio | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% | Black or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 11% | 11% |