Loan Officer salary in South Dakota
Loan Officers in South Dakota earn a median of $79,920 a year ($38.42 an hour), based on BLS data for 1,820 workers.
Pay ranges from $58,480 for the lowest-paid 10% to $125,080 for the top 10%. That is 4% higher than the national median of $76,690. South Dakota ranks 18th of 51 states for loan officers pay. There are 4.0 loan officers per 1,000 jobs here — the job is 2.3× more common than nationally. The average (mean) salary is $85,970, above the median because a few high earners pull it up.
Pay range for loan officers in South Dakota
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $58,480 | $28.12 |
| 25th percentile | $65,570 | $31.52 |
| Median | $79,920 | $38.42 |
| 75th percentile | $99,750 | $47.96 |
| 90th percentile (top earners) | $125,080 | $60.14 |
| Average (mean) | $85,970 | $41.33 |
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 | $6,660 |
| Semi-monthly (24 a year) | $3,330 |
| Biweekly (26 a year) | $3,073.85 |
| Weekly | $1,536.92 |
| Hourly | $38.42 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $79,920 salary, see how much house you can afford in South Dakota at today's mortgage rates, or work out a payment with the mortgage calculator.
Loan Officer salary in cities in South Dakota
| Metro area | Median salary | Workers |
|---|---|---|
| Sioux City, IA-NE-SD | $81,780 | 140 |
| Sioux Falls, SD-MN | $81,380 | 690 |
| Rapid City, SD | $78,470 | 220 |
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 |
Related jobs in South Dakota
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $78,880 | $37.92 |
| Financial and Investment Analysts | $99,150 | $47.67 |
| Personal Financial Advisor | $128,720 | $61.89 |
| Property Appraisers and Assessors | $63,350 | $30.46 |
| Credit Analyst | $73,040 | $35.11 |
| Tax Preparer | $52,530 | $25.26 |
| Insurance Underwriter | $83,130 | $39.97 |
| Financial Examiner | $88,690 | $42.64 |
| Financial Risk Specialist | $78,960 | $37.96 |
| Budget Analyst | $79,180 | $38.07 |
| Tax Examiners and Collectors, and Revenue Agents | $63,790 | $30.67 |
| Financial Specialists, All Other | $86,260 | $41.47 |
| Credit Counselor | $48,890 | $23.50 |
| Management Analyst | $83,620 | $40.20 |
More: Business and Financial Operations Occupations · all salaries in South Dakota
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 South Dakota?
The median salary for loan officers in South Dakota is $79,920 a year, or $38.42 an hour. Pay ranges from $58,480 for the lowest-paid 10% to $125,080 for the top 10%.
How much do the highest-paid loan officers make in South Dakota?
The top 10% of loan officers in South Dakota earn at least $125,080 a year. The top 25% earn $99,750 or more.
What is the starting pay for loan officers in South Dakota?
Entry-level pay (the 10th percentile) is about $58,480 a year, and a quarter of loan officers earn $65,570 or less.
How many loan officers work in South Dakota?
About 1,820 loan officers are employed in South Dakota, not counting the self-employed.