Business & Finance Sioux Falls, SD
Pop. 192,517
Loan Officer Salary in Sioux Falls, South Dakota
The median loan officer salary in Sioux Falls, SD is $60,481 per year, which is 8% below the national median and 4.5% above the South Dakota state average.
City Median
$60,481
vs State Avg
+$2,630
vs National
$-5,259
Cost of Living
92%
Loan Officer Salary in Sioux Falls by Experience
In Sioux Falls, an entry-level loan officer earns around $34,960, while experienced professionals earn up to $119,600 per year. The local cost of living index is 92% of the national average.
Entry Level (0-2 yrs)
$34,960
$-3,040 vs national
Mid Level (3-7 yrs)
$60,720
$-5,280 vs national
Senior Level (8+ yrs)
$119,600
$-10,400 vs national
Salary Percentiles in Sioux Falls, SD
| Percentile | Sioux Falls |
|---|---|
| 10th Percentile | $32,384 |
| 25th Percentile | $41,768 |
| Median (50th) | $60,481 |
| 75th Percentile | $92,000 |
| 90th Percentile | $141,496 |
Loan Officer Salary in Other South Dakota Cities
How to Become a Loan Officer in Sioux Falls
Education
Most loan officer positions require a bachelor's degree. Sioux Falls 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 Sioux Falls may vary based on local industry and population growth.