Loan Officer Salary in South Dakota
The median loan officer salary in South Dakota is $57,851 per year, which is 12% below the national median of $65,740.
Loan Officer Salary Overview in South Dakota (2026)
South Dakota ranks #43 out of 50 states for loan officer compensation. Loan Officer salaries in South Dakota are below the national median, though the lower cost of living can offset the difference. At $57,851 per year, loan officers in South Dakota earn $7,889 less than the national median of $65,740.
A key advantage of working in South Dakota is its below-average cost of living (88% of the national index). This means the $57,851 salary has the purchasing power of roughly $65,740 in an average-cost area.
The salary spread in South Dakota is significant: loan officers at the 10th percentile earn $30,976, while those at the 90th percentile bring home $135,344 — a $104,368 gap that reflects differences in experience, specialization, employer type, and metro area. The highest-paying city in South Dakota for this role is Sioux Falls, where the median reaches $60,481.
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). This steady growth indicates stable demand for loan officers across the country.
Loan Officer Salary in South Dakota by Experience
In South Dakota, an entry-level loan officer earns around $33,440, while experienced professionals earn up to $114,400 per year. The cost of living index in South Dakota is 88% of the national average.
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Check Your Rate — No Credit Impact →Salary Percentiles in South Dakota
| Percentile | SD Salary |
|---|---|
| 10th Percentile | $30,976 |
| 25th Percentile | $39,952 |
| Median (50th) | $57,851 |
| 75th Percentile | $88,000 |
| 90th Percentile | $135,344 |
Loan Officer Salary by City in South Dakota
The largest employment areas for loan officers in South Dakota include Sioux Falls, Rapid City, Aberdeen, and Brookings. Salaries vary by city based on local cost of living and demand.
How to Become a Loan Officer in South Dakota
Education
Most loan officer positions require a bachelor's degree. South Dakota has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in South Dakota
Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). South Dakota's demand may vary based on local industry trends.
Negotiate Your Way to Senior Pay
Data shows Loan Officers who negotiate earn 7–15% more. A single negotiation could add $56,549 over your career trajectory.
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