The annual salary statistics of loan officers in Sioux City, South Dakota is shown in Table 1. The wage statistics of loan officers in Sioux City is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $46,010 |
| 25th Percentile Wage | $59,580 |
| 50th Percentile Wage | $71,660 |
| 75th Percentile Wage | $99,090 |
| 90th Percentile Wage | $116,510 |
Table 1 shows the average annual salary for loan officers in Sioux City, South Dakota in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $116,510. The median (50th percentile) annual salary is $71,660. The average annual salary for the bottom 10 percent earners is $46,010.
The table and chart below show the trend of the median salary of loan officers from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $71,660 | 10.73% | 27.84% |
| 2021 | $63,970 | -0.16% | - |
| 2020 | $64,070 | 2.40% | - |
| 2019 | $62,530 | 11.63% | - |
| 2018 | $55,260 | -26.96% | - |
| 2017 | $70,160 | -1.65% | - |
| 2016 | $71,320 | 1.70% | - |
| 2015 | $70,110 | 33.90% | - |
| 2014 | $46,340 | -1.49% | - |
| 2013 | $47,030 | -9.95% | - |
| 2012 | $51,710 | - | - |
From Table 3 we note that with a median annual salary of $71,660, Sioux City is the second highest paying city for loan officers in state of South Dakota, following the highest paying city Eastern South Dakota nonmetropolitan area (median annual salary of $76,510). Compared with Eastern South Dakota nonmetropolitan area, the median annual salary of loan officers in Sioux City is 6.3 percent (6.3%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Eastern South Dakota nonmetropolitan area | |
| Sioux City | |
| Rapid City | |
| Western South Dakota nonmetropolitan area | |
| Sioux Falls | |
| Central South Dakota nonmetropolitan area |