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Financial Advisor Salary in South Dakota: Is It a Good Career?

South Dakota · 2026 BLS salary data

a Financial Advisor pay in South Dakota

The median wage is $128,720/yr — 23% above the national median. Among U.S. states, South Dakotaranks #5 of 49 states by median pay.

The numbers in South Dakota

Real BLS state-level figures for Financial Advisor.

Median salary
$128,720/yr
Pay range (25th–75th)
$101,200 – $204,320
National median
$105,070/yr
Employed in South Dakota
620

Source: BLS Occupational Employment & Wage Statistics (OEWS), state estimates, May 2025 release.

What that pay is really worth in South Dakota

Salary alone can mislead — South Dakota costs 11% less than the U.S. average. Here's the median adjusted for local prices (real purchasing power).

Cost of living (US=100)
88.6
Nominal median
$128,720
Adjusted for cost of living
≈ $145,282
State income tax
None

Because South Dakota costs 11% less than the U.S. average, its pay stretches further — it ranks #3 of 49 once adjusted for cost of living, up from #5 on raw salary.

South Dakota levies no state income tax, so more of that pay stays in your pocket than in high-tax states.

Cost of living: BEA Regional Price Parities (all items, US=100), 2024. Adjusted pay = nominal median ÷ (RPP/100) — purchasing power vs the U.S. average. State income tax = top marginal rate on wage income (Tax Foundation, 2025); your effective rate is lower and depends on income and deductions.

FAQ

How much do financial advisor professionals make in South Dakota?

The median annual wage is $128,720 (BLS OEWS, state estimates), with the middle 50% earning between $101,200 and $204,320. That's 23% above the national median.

Is South Dakota a good state for financial advisor?

By raw pay, South Dakota ranks #5 of 49 states by median pay. Adjusted for cost of living (South Dakota costs 11% less than the U.S. average), that median is worth about $145,282. Because South Dakota costs 11% less than the U.S. average, its pay stretches further — it ranks #3 of 49 once adjusted for cost of living, up from #5 on raw salary. And with no state income tax, more of that pay stays in your pocket.

Are financial advisor professionals in demand in South Dakota?

About 620 people work in this field in South Dakota (BLS OEWS). Nationally, BLS projects +9.6% employment growth for this field from 2024 to 2034.

The verdict, pros, and cons below apply to Financial Advisor nationally — South Dakota pay is 23% above the national median. See the full a Financial Advisor career guide →

The verdict

Yes if you're a relationship-builder — financial advising offers strong pay, faster-than-average growth, and no specific degree requirement, but early years are a sales grind to build a client book. Worth it for self-starters; hard for those who dislike sales.

Pros & cons

Pros

  • Strong pay with faster-than-average growth
  • No specific degree required (licensing instead)
  • Uncapped, book-of-business upside
  • Flexible and increasingly hybrid/remote
  • Meaningful impact on clients' financial lives

Cons

  • Early years are a sales/prospecting grind
  • Income unstable until your client book is built
  • High washout rate for new advisors
  • Licensing (SIE, Series 7/66) and compliance burden
  • Market downturns pressure both clients and income

Who it's for

✓ A good fit if…

  • Natural relationship-builders and self-starters
  • People comfortable with sales and prospecting
  • Those with a runway to build a client base

✗ Probably not if…

  • People who dislike sales or cold outreach
  • Those who need a stable salary immediately

What people are actually asking

Real Reddit discussions on whether Financial Advisor is worth it — titles link to the original threads.