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The differences between funding specialists and business development specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a business development specialist has an average salary of $57,410, 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 development specialist are work ethic, CRM, and customer service.
| Funding Specialist | Business Development Specialist | |
| Yearly salary | $43,459 | $57,410 |
| Hourly rate | $20.89 | $27.60 |
| Growth rate | -3% | 10% |
| Number of jobs | 47,806 | 182,116 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 73% |
| 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 development specialist is an expert who determines opportunities for marketing strategy optimization and business growth. The specialists perform business process and financial analysis, effective network creation, and business plan implementation. Being a good business development specialist requires knowledge and experience in managing a business. The skillset for the position includes a strong command in English, information technology, attention to detail, and written and verbal communication.
Funding specialists and business development specialists have different pay scales, as shown below.
| Funding Specialist | Business Development Specialist | |
| Average salary | $43,459 | $57,410 |
| Salary range | Between $30,000 And $62,000 | Between $38,000 And $85,000 |
| Highest paying City | Urban Honolulu, HI | Jersey City, NJ |
| Highest paying state | Hawaii | Wisconsin |
| Best paying company | Northern Trust | Corsair |
| Best paying industry | Finance | Finance |
There are a few differences between a funding specialist and a business development specialist in terms of educational background:
| Funding Specialist | Business Development Specialist | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | Western Carolina University | Western Carolina University |
Here are the differences between funding specialists' and business development specialists' demographics:
| Funding Specialist | Business Development Specialist | |
| Average age | 44 | 44 |
| Gender ratio | Male, 36.9% Female, 63.1% | Male, 50.7% Female, 49.3% |
| 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% |