Business & Finance Rapid City, SD
Pop. 74,703
Loan Officer Salary in Rapid City, South Dakota
The median loan officer salary in Rapid City, SD is $59,166 per year, which is 10% below the national median and 2.3% above the South Dakota state average.
City Median
$59,166
vs State Avg
+$1,315
vs National
$-6,574
Cost of Living
90%
Loan Officer Salary in Rapid City by Experience
In Rapid City, an entry-level loan officer earns around $34,200, while experienced professionals earn up to $117,000 per year. The local cost of living index is 90% of the national average.
Entry Level (0-2 yrs)
$34,200
$-3,800 vs national
Mid Level (3-7 yrs)
$59,400
$-6,600 vs national
Senior Level (8+ yrs)
$117,000
$-13,000 vs national
Salary Percentiles in Rapid City, SD
| Percentile | Rapid City |
|---|---|
| 10th Percentile | $31,680 |
| 25th Percentile | $40,860 |
| Median (50th) | $59,166 |
| 75th Percentile | $90,000 |
| 90th Percentile | $138,420 |
Loan Officer Salary in Other South Dakota Cities
How to Become a Loan Officer in Rapid City
Education
Most loan officer positions require a bachelor's degree. Rapid City 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 Rapid City may vary based on local industry and population growth.