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How to hire a funding specialist

Funding specialist hiring summary. Here are some key points about hiring funding specialists in the United States:

  • HR departments typically spend 15% of their expenses on recruitment.
  • It usually takes about 12 weeks for a new employee to reach full productivity levels.
  • It typically takes 36-42 days to fill a job opening.
  • The median cost to hire a funding specialist is $1,633.
  • Small businesses spend an average of $1,105 per funding specialist on training each year, while large companies spend $658.
  • There are currently 6,251 funding specialists in the US and 47,806 job openings.
  • New York, NY, has the highest demand for funding specialists, with 5 job openings.
  • Arlington, TX has the highest concentration of funding specialists.

How to hire a funding specialist, step by step

To hire a funding specialist, you should create an ideal candidate profile, determine a budget, and post and promote your job. Here's a step-by-step guide on how to hire a funding specialist:

Here's a step-by-step funding specialist hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a funding specialist job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new funding specialist
  • Step 8: Go through the hiring process checklist

What does a funding specialist do?

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.

Learn more about the specifics of what a funding specialist does
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  1. Identify your hiring needs

    The funding specialist hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

    Determine employee vs contractor status
    Is the person you're thinking of hiring a US citizen or green card holder?

    You should also consider the ideal background you'd like them a funding specialist to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a funding specialist that fits the bill.

    This list presents funding specialist salaries for various positions.

    Type of Funding SpecialistDescriptionHourly rate
    Funding Specialist$14-29
    Operations CoordinatorAn operations coordinator's role is to oversee the progress of various departments in a company or organization, ensuring that all operations meet the set goals and adhere to the company's policies and regulations. An operations coordinator may also be responsible for supervising the procurement of supplies, contract negotiations, sales monitoring, and even maintenance operations within the company... Show more$14-27
    Business DeveloperA 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... Show more$31-75
  2. Create an ideal candidate profile

    Common skills:
    • Data Entry
    • Excellent Organizational
    • ACH
    • Quality Customer Service
    • Escrow
    • Loan Packages
    • Loan Applications
    • Federal Laws
    • General Ledger
    • Account Maintenance
    • Wire Transfers
    • Financial Transactions
    • Computer System
    • Bank Statements
    Check all skills
    Responsibilities:
    • Manage a variety of operational tasks for moderately complex securities transactions that require knowledge of vary systems and processes.
    • Assist the quantitative analyst in improving the work efficiency by optimizing VBA codes for the fund analysis.
    • Work daily with equities, fix income, futures, swaps, options, FX and other derivative instruments.
    • Facilitate month-end close processes, invoicing, journal entries and account reconciliations
    • Perform extensive market research in Bloomberg terminals and Capital-IQ to analyze companies.
    • Prepare PowerPoint presentations and updates of financial spreadsheets for internal and external distribution.
    More funding specialist duties
  3. Make a budget

    Including a salary range in your funding specialist job description is one of the best ways to attract top talent. A funding specialist can vary based on:

    • Location. For example, funding specialists' average salary in montana is 52% less than in hawaii.
    • Seniority. Entry-level funding specialists 52% less than senior-level funding specialists.
    • Certifications. A funding specialist with certifications usually earns a higher salary.
    • Company. Working for an established firm or a new start-up company can make a big difference in a funding specialist's salary.

    Average funding specialist salary

    $43,459yearly

    $20.89 hourly rate

    Entry-level funding specialist salary
    $30,000 yearly salary
    Updated January 23, 2026

    Average funding specialist salary by state

    RankStateAvg. salaryHourly rate
    1Hawaii$63,565$31
    2California$63,296$30
    3Arizona$50,787$24
    4Florida$50,558$24
    5Rhode Island$49,759$24
    6Delaware$49,331$24
    7Texas$48,380$23
    8Pennsylvania$47,754$23
    9Alaska$46,100$22
    10Oregon$45,508$22
    11Massachusetts$44,737$22
    12Kansas$43,357$21
    13New York$43,281$21
    14Maryland$42,923$21
    15Georgia$41,715$20
    16North Carolina$41,515$20
    17Wisconsin$38,891$19
    18Illinois$38,049$18
    19Arkansas$37,737$18
    20Indiana$37,468$18

    Average funding specialist salary by company

    RankCompanyAverage salaryHourly rateJob openings
    1Northern Trust$85,497$41.103
    2University of California-Berkeley$65,752$31.61
    3Baxter & Woodman$63,451$30.51
    4Credit Suisse$59,671$28.69
    5BNY Mellon$58,228$27.993
    6Woodard & Curran$56,519$27.17
    7BOK Financial$55,245$26.5617
    8American Beacon Advisors$53,727$25.83
    9Self Help Africa USA$53,696$25.82
    10Home Bancshares Inc.$53,635$25.7928
    11American National Bank & Trust$51,447$24.73
    12Washington State University$50,853$24.45
    13Alaska USA$49,943$24.01
    14Alamar Biosciences$48,733$23.432
    15Jacobs Enterprises$48,724$23.433
    16PulteGroup$48,592$23.365
    17UW Credit Union$48,472$23.302
    18Cardinal Financial$47,989$23.075
    19Premium Merchant Funding$47,277$22.73
    20UNIFY Financial Credit Union$46,381$22.30
  4. Writing a funding specialist job description

    A good funding specialist job description should include a few things:

    • Summary of the role
    • List of responsibilities
    • Required skills and experience

    Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of a funding specialist job description:

    Funding specialist job description example

    ***$750 Sign-on Bonus Available***

    When you think about important qualities for your next employer to have, do growth, originality, enthusiasm, and investment in people and infrastructure come to mind? If so, then HPI is the place for you. If you want to join a team that values integrity, flexibility, loyalty, compassion and dedication, we want to meet you.

    What you’ll do

    We’re looking for an analytical thinker with an eye for detail to join our team as a funding specialist. As the funding specialist, you’ll coordinate daily account activity for employer groups who self-fund their health, dental and short-term disability benefit programs. You’ll have the opportunity to work with multiple departments to ensure client accounts maintain a positive balance and adhere to contract guidelines.

    In this role, you’ll also:

    • Manage information for clients in the areas of funding, billing and reporting of financial transactions
    • Compile and audit various monthly activity reports
    • Maintain and reconcile client cash accounts
    • Coordinate and schedule payments to providers and other payees on behalf of client
    • Communicate with clients regarding funding requirements

    The ideal candidate has:

    • A high school diploma (required)
    • Proficiency in Microsoft Word and Excel or similar PC based programs
    • The ability to multitask, meet deadlines, and recognize the need for follow-up
    • Strong communication skills, both verbally and in writing

    What we do

    Delivering the best possible service to our clients and their employees is a top priority and we work together at all levels to accomplish it.

    HPI is unique. It’s a 38-year-old company that maintains a forward-thinking, entrepreneurial spirit in an industry not known for changing with the times. By joining HPI, you’ll be part of a team of professionals that strive to make a difference by offering better health insurance and outside-the-box solutions to companies and their employees nationwide. This drives HPI to be an industry leader in innovation, modernization and organizational growth year over year. There isn’t a challenge we won’t accept and we’re looking for people who have a passion to take it on.

    What we have to offer

    Our employees work in a newly renovated, open, and collaborative environment. At HPI you can brainstorm in one of our team break-out rooms, stretch out at your ergonomic desk, take a break to chat in the onsite café, or get in a quick workout at one of the campus gyms. We offer competitive pay and several great locations, including our headquarters in Westborough right off of Route 9, Route 495 and the Mass Pike, with shuttle service available from the Westborough Commuter Rail Station to our office park via the Worcester Regional Transit Authority (WRTA). Our benefits package includes incredible health plan options, opportunities to volunteer and support community projects, a quarterly bonus program, and so much more.

    So, think you want to join the HPI team? We hope to hear from you!

    You can read more about us at healthplansinc.com/our-story/careers/

    EEO/AA/M/F/Vet/Disability Employer

  5. Post your job

    There are a few common ways to find funding specialists for your business:

    • Promoting internally or recruiting from your existing workforce.
    • Ask for referrals from friends, family members, and current employees.
    • Attend job fairs at local colleges to meet candidates with the right educational background.
    • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.
    Post your job online:
    • Post your funding specialist job on Zippia to find and recruit funding specialist candidates who meet your exact specifications.
    • Use field-specific websites.
    • Post a job on free websites.
  6. Interview candidates

    During your first interview to recruit funding specialists, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

    Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

    The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

  7. Send a job offer and onboard your new funding specialist

    Once you have selected a candidate for the funding specialist position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

    It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

    After that, you can create an onboarding schedule for a new funding specialist. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a funding specialist?

There are different types of costs for hiring funding specialists. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new funding specialist employee.

You can expect to pay around $43,459 per year for a funding specialist, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for funding specialists in the US typically range between $14 and $29 an hour.

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