A Wireless Sensor Network (WSN) consists of a large number of randomly deployed sensor nodes. These sensor nodes organize themselves into a cooperative network and perform the three basic functions of sensing, computations and communications. Research in WSNs has become an extensive explorative area during the last few years, especially due the challenges offered, energy constraints of the sensors being one of them. In this paper, the need for effective utilization of limited power resources is emphasized, which becomes pre-eminent to the Wireless Sensor Networks. Organizing the network to achieve balanced clusters based on assigning equal number of sensors to each cluster may have the consequence of unbalanced load on the cluster heads. This results in an unbalanced consumption of energy by the nodes, cumulatively leading to minimization of network lifetime. In this paper, we put forth a Sink administered Load balanced Dynamic Hierarchical Protocol (SLDHP) to balance the load on the principal nodes. Hierarchical layout of the sensors endows the network with considerable minimization of energy consumption of nodes leading to an increased lifespan. Simulation results indicate significant improvement of performance over Base station Controlled Dynamic Clustering Protocol (BCDCP).