Loans Manager Salary in Sioux Falls, South Dakota

What is the salary range of Loans Manager?

As of December 01, 2024, the average annual pay of Loans Manager in Sioux Falls, SD is $160,082. While Salary.com is seeing that Loans Manager salary in Sioux Falls, SD can go up to $198,690 or down to $109,882, but most earn between $133,805 and $180,291. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Loans Manager in the United States.

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Salary range for a Loans Manager

$133,805 to $180,291

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What is a Loans Manager?

The Loans Manager is responsible for overseeing the loan department of a financial institution, including managing a team of loan officers and ensuring that loan applications are processed efficiently and accurately. They are also responsible for developing and implementing loan policies and procedures, as well as ensuring compliance with all relevant regulations and guidelines. The Loans Manager is also involved in evaluating loan applications, making lending decisions, and monitoring the performance of the loan portfolio. Additionally, they may be responsible for developing and maintaining relationships with clients and promoting loan products and services to potential customers. Overall, the Loans Manager plays a crucial role in the success of the loan department and the overall financial institution.

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What does a Loans Manager do?

Common responsibilities of a Loans Manager

Oversee the loan department and ensure that all loan processes and procedures are followed accurately and efficiently.

September 06, 2023

Provide training and support to loan officers and other staff members to ensure a high level of customer service and loan quality.

September 13, 2023

Monitor and manage loan delinquencies and work with borrowers to develop repayment plans.

September 22, 2023

Analyze credit reports and financial statements to assess the creditworthiness of loan applicants.

October 09, 2023

Stay informed about changes in lending regulations and industry trends to ensure compliance and best practices.

October 29, 2023

Develop and maintain relationships with external partners such as credit bureaus, appraisers, and legal counsel.

November 02, 2023

Work with loan officers to provide guidance and support in structuring and underwriting loans.

November 08, 2023

Review and approve loan applications, ensuring that all necessary documentation and information is provided.

November 09, 2023

Manage and monitor the loan portfolio to ensure that loans are performing according to established guidelines.

November 18, 2023

Develop and implement loan policies and procedures to ensure compliance with regulatory requirements.

November 19, 2023

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Loans Manager Salary By Experience Levels in Sioux Falls, SD

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Loans Manager Salary By Level of Education in Sioux Falls, SD

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Average Salary Range for Loans Manager in Sioux Falls, SD

Average Base Salary

Core compensation

133805

180291

160082

Average Total Cash Compensation

Includes base and annual incentives

147381

223498

182392

What is the average salary for Loans Manager in 2024?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Loans Manager in Sioux Falls, SD. The base salary for Loans Manager ranges from $133,805 to $180,291 with the average base salary of $160,082. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $147,381 to $223,498 with the average total cash compensation of $182,392.

View Average Salary for Loans Manager as table

	Average Salary	Average Salary Range
Base Salary	$160,082	$133,805 - $180,291
Bonus	$22,310	$13,576 - $43,208
Total Pay	$182,392	$147,381 - $223,498

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Loans Manager Salary Near Sioux Falls, SD

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Sioux Falls, SD
CITY, STATE Brookings, SD	AVERAGE SALARY RANGE $130,077 - $175,267	COMPARE TO Sioux Falls, SD
CITY, STATE Sioux City, IA	AVERAGE SALARY RANGE $127,925 - $172,368	COMPARE TO Sioux Falls, SD
CITY, STATE Watertown, SD	AVERAGE SALARY RANGE $130,077 - $175,267	COMPARE TO Sioux Falls, SD
CITY, STATE Norfolk, NE	AVERAGE SALARY RANGE $126,599 - $170,581	COMPARE TO Sioux Falls, SD
CITY, STATE Fremont, NE	AVERAGE SALARY RANGE $137,112 - $184,746	COMPARE TO Sioux Falls, SD
CITY, STATE Aberdeen, SD	AVERAGE SALARY RANGE $121,942 - $164,307	COMPARE TO Sioux Falls, SD

See salaries for Loans Manager in locations close to Sioux Falls, SD. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Sioux Falls, South Dakota

Sioux Falls (/ˌsuː ˈfɔːlz/) (Lakota: Íŋyaŋ Okábleča Otȟúŋwahe; "Stone Shatter City") is the most populous city in the U.S. state of South Dakota and the 143rd-most populous city in the United States. It is the county seat of Minnehaha County and also extends into Lincoln County to the south, proximate with the Minnesota state line. It is the 47th-fastest-growing city in the United States and the fastest-growing metro area in South Dakota, with a population increase of 22% between 2000 and 2010. As of 2019, Sioux Falls had an estimated population of 187,200. The metropolitan population of 259,0...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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JOB TITLE Underwriting Manager - Mortgage Loans	LOCATION Sioux Falls, SD	MINIMUM SALARY $81,000	MAXIMUM SALARY $113,900
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