Business & Finance Brookings, SD Pop. 24,194

Loan Officer Salary in Brookings, South Dakota

The median loan officer salary in Brookings, SD is $56,536 per year, which is 14% below the national median and 2.3% below the South Dakota state average.

City Median
$56,536
vs State Avg
$-1,315
vs National
$-9,204
Cost of Living
86%

Loan Officer Salary in Brookings by Experience

In Brookings, an entry-level loan officer earns around $32,680, while experienced professionals earn up to $111,800 per year. The local cost of living index is 86% of the national average.

Entry Level (0-2 yrs)
$32,680
$-5,320 vs national
Mid Level (3-7 yrs)
$56,760
$-9,240 vs national
Senior Level (8+ yrs)
$111,800
$-18,200 vs national

Salary Percentiles in Brookings, SD

Percentile Brookings
10th Percentile $30,272
25th Percentile $39,044
Median (50th) $56,536
75th Percentile $86,000
90th Percentile $132,268

Loan Officer Salary in Other South Dakota Cities

Sioux Falls, SD
$60,481
Pop. 192,517
Rapid City, SD
$59,166
Pop. 74,703
Aberdeen, SD
$55,222
Pop. 28,324
Mitchell, SD
$53,907
Pop. 15,660

How to Become a Loan Officer in Brookings

Education

Most loan officer positions require a bachelor's degree. Brookings 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 Brookings may vary based on local industry and population growth.

Find Loan Officer Jobs in Brookings

Browse open loan officer positions in Brookings, SD:

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Frequently Asked Questions: Loan Officer Salary in Brookings

How much does a Loan Officer make in Brookings, SD? ▼
The median loan officer salary in Brookings, South Dakota is $56,536 per year, which is 14% below the national median of $65,740. Salaries range from $30,272 (10th percentile) to $132,268 (90th percentile).
How much does a Loan Officer make per hour in Brookings? ▼
Based on the median annual salary of $56,536, a loan officer in Brookings earns approximately $27 per hour assuming a standard 2,080-hour work year.
How does Brookings compare to the South Dakota state average for loan officer pay? ▼
Brookings's median loan officer salary of $56,536 is 2.3% below the South Dakota state average of $57,851. The local cost of living index is 86% of the national average.
What is the cost of living in Brookings, SD? ▼
Brookings has a cost of living index of 86% compared to the national average. This means a loan officer salary of $56,536 in Brookings has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a loan officer in Brookings? ▼
Most loan officer positions in Brookings 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.