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Loan Officer Salary Information in South Dakota

The average annual and hourly salaries for loan officers in the state of South Dakota are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of loan officers amongst South Dakota areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1 & 2. Annual & Hourly Salary of Loan Officers in South Dakota

Percentile BracketAverage Annual Salary
10th Percentile Wage
$43,830
25th Percentile Wage
$50,740
50th Percentile Wage
$60,180
75th Percentile Wage
$74,380
90th Percentile Wage
$90,500

Table 1 shows the average annual salary for loan officers in South Dakota in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $90,500. The median (50th percentile) annual salary is $60,180. The average annual salary for the bottom 10 percent is $43,830.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of loan officers from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$60,180
-2.64% 10.45%
2016
$61,770
1.98% -
2015
$60,550
1.17% -
2014
$59,840
8.10% -
2013
$54,990
2.00% -
2012
$53,890
- -

Table 3. Median Annual Salary of Loan Officers in South Dakota Cities

Table 3 shows the median annual salary of loan officers in some South Dakota cities and metropolitan areas. We note that the median annual salary of loan officers in state of South Dakota ranges from $58,170 to $70,160. The highest paying area for loan officers in South Dakota is Sioux City with a median annual salary of $70,160. The second highest paying city/area in South Dakota State is Eastern South Dakota nonmetropolitan area (mean annual salary $62,850). The lowest paying area is Central South Dakota nonmetropolitan area with a median annual salary of $58,170.

Cities/Areas Median Annual Salary
Sioux City
$70,160
Eastern South Dakota nonmetropolitan area
$62,850
Western South Dakota nonmetropolitan area
$62,010
Rapid City
$59,610
Sioux Falls
$58,480
Central South Dakota nonmetropolitan area
$58,170




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