Business & Finance Aberdeen, SD Pop. 28,324

Loan Officer Salary in Aberdeen, South Dakota

The median loan officer salary in Aberdeen, SD is $55,222 per year, which is 16% below the national median and 4.5% below the South Dakota state average.

City Median
$55,222
vs State Avg
$-2,629
vs National
$-10,518
Cost of Living
84%

Loan Officer Salary in Aberdeen by Experience

In Aberdeen, an entry-level loan officer earns around $31,920, while experienced professionals earn up to $109,200 per year. The local cost of living index is 84% of the national average.

Entry Level (0-2 yrs)
$31,920
$-6,080 vs national
Mid Level (3-7 yrs)
$55,440
$-10,560 vs national
Senior Level (8+ yrs)
$109,200
$-20,800 vs national

Salary Percentiles in Aberdeen, SD

Percentile Aberdeen
10th Percentile $29,568
25th Percentile $38,136
Median (50th) $55,222
75th Percentile $84,000
90th Percentile $129,192

Loan Officer Salary in Other South Dakota Cities

Sioux Falls, SD
$60,481
Pop. 192,517
Rapid City, SD
$59,166
Pop. 74,703
Brookings, SD
$56,536
Pop. 24,194
Mitchell, SD
$53,907
Pop. 15,660

How to Become a Loan Officer in Aberdeen

Education

Most loan officer positions require a bachelor's degree. Aberdeen and the surrounding South Dakota area have institutions offering relevant programs.

Key Skills

Credit AnalysisMortgage LendingCustomer ServiceRegulatory ComplianceSalesFinancial Software

Job Outlook

Nationally, loan officer employment is projected to grow 3% over the next decade (as fast as average). Demand in Aberdeen may vary based on local industry and population growth.

Find Loan Officer Jobs in Aberdeen

Browse open loan officer positions in Aberdeen, SD:

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Frequently Asked Questions: Loan Officer Salary in Aberdeen

How much does a Loan Officer make in Aberdeen, SD? ▼
The median loan officer salary in Aberdeen, South Dakota is $55,222 per year, which is 16% below the national median of $65,740. Salaries range from $29,568 (10th percentile) to $129,192 (90th percentile).
How much does a Loan Officer make per hour in Aberdeen? ▼
Based on the median annual salary of $55,222, a loan officer in Aberdeen earns approximately $27 per hour assuming a standard 2,080-hour work year.
How does Aberdeen compare to the South Dakota state average for loan officer pay? ▼
Aberdeen's median loan officer salary of $55,222 is 4.5% below the South Dakota state average of $57,851. The local cost of living index is 84% of the national average.
What is the cost of living in Aberdeen, SD? ▼
Aberdeen has a cost of living index of 84% compared to the national average. This means a loan officer salary of $55,222 in Aberdeen has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Aberdeen? ▼
Most loan officer positions in Aberdeen require a bachelor's degree. Key skills include Credit Analysis, Mortgage Lending, Customer Service, Regulatory Compliance. The job market is projected to grow 3% nationally over the next decade.