Loan Officer salary in Sioux Falls, SD-MN
Loan Officers in the Sioux Falls, SD-MN metro area earn a median of $81,380 a year ($39.13 an hour), based on BLS data for 690 workers.
Pay ranges from $60,600 for the lowest-paid 10% to $130,360 for the top 10%. That is 6% higher than the national median of $76,690. Pay here is 2% higher than the South Dakota statewide median of $79,920. There are 3.8 loan officers per 1,000 jobs here — the job is 2.2× more common than nationally. The average (mean) salary is $90,800, above the median because a few high earners pull it up.
Pay range for loan officers in Sioux Falls, SD-MN
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $60,600 | $29.13 |
| 25th percentile | $69,180 | $33.26 |
| Median | $81,380 | $39.13 |
| 75th percentile | $103,800 | $49.90 |
| 90th percentile (top earners) | $130,360 | $62.67 |
| Average (mean) | $90,800 | $43.66 |
Half of loan officers earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $6,781.67 |
| Semi-monthly (24 a year) | $3,390.83 |
| Biweekly (26 a year) | $3,130 |
| Weekly | $1,565 |
| Hourly | $39.13 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Loan Officer salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | $102,200 | 3,910 |
| Rochester, MN | $98,110 | 170 |
| Mankato, MN | $94,850 | 130 |
| Fargo, ND-MN | $93,640 | 390 |
| Grand Forks, ND-MN | $92,820 | 100 |
| St. Cloud, MN | $92,570 | 300 |
| Sioux City, IA-NE-SD | $81,780 | 140 |
| Rapid City, SD | $78,470 | 220 |
| La Crosse-Onalaska, WI-MN | $76,370 | 170 |
| Duluth, MN-WI | $73,240 | 200 |
Highest-paying states for loan officers
| State | Median salary |
|---|---|
| Massachusetts | $101,600 |
| Connecticut | $95,730 |
| New York | $95,710 |
| Minnesota | $95,170 |
| Colorado | $94,520 |
| Oregon | $94,440 |
| New Jersey | $92,920 |
| District of Columbia | $92,890 |
| Vermont | $88,710 |
| Kansas | $86,970 |
See Loan Officer pay in every state or the South Dakota statewide figures.
Related jobs in Sioux Falls, SD-MN
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $80,920 | $38.91 |
| Financial and Investment Analysts | $99,140 | $47.66 |
| Personal Financial Advisor | $121,350 | $58.34 |
| Credit Analyst | $66,000 | $31.73 |
| Insurance Underwriter | $77,160 | $37.10 |
| Property Appraisers and Assessors | $67,750 | $32.57 |
| Tax Preparer | $52,530 | $25.26 |
| Financial Examiner | $95,100 | $45.72 |
| Financial Risk Specialist | $80,360 | $38.64 |
| Tax Examiners and Collectors, and Revenue Agents | $70,050 | $33.68 |
| Management Analyst | $84,930 | $40.83 |
| Market Research Analysts and Marketing Specialists | $66,060 | $31.76 |
| Human Resources Specialist | $68,230 | $32.80 |
| Claims Adjusters, Examiners, and Investigators | $78,900 | $37.93 |
More: Business and Financial Operations Occupations · all salaries in Sioux Falls, SD-MN
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2072. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a loan officer make in Sioux Falls, SD-MN?
The median salary for loan officers in the Sioux Falls, SD-MN metro area is $81,380 a year, or $39.13 an hour. Pay ranges from $60,600 for the lowest-paid 10% to $130,360 for the top 10%.
How much do the highest-paid loan officers make in Sioux Falls, SD-MN?
The top 10% of loan officers in the Sioux Falls, SD-MN metro area earn at least $130,360 a year. The top 25% earn $103,800 or more.
What is the starting pay for loan officers in Sioux Falls, SD-MN?
Entry-level pay (the 10th percentile) is about $60,600 a year, and a quarter of loan officers earn $69,180 or less.
How many loan officers work in Sioux Falls, SD-MN?
About 690 loan officers are employed in the Sioux Falls, SD-MN metro area, not counting the self-employed.