Tips to survive on a GS-5 salary in NoVA? (insurance, mortgage)

[Nemesis16]

Originally Posted by The Dissenter

A little info for all.

I just had a preliminary interview for a financial position that well. One problem the starting range for the position is $26-30K. I'm thinking that it may be wise to pass on this one if pay can't be negotiated higher since this position does not have a Bachelor's degree requirement so technically I would be underemployed and other similar banks have paid higher. Heck, I may fetch better value going back to my old employer.

I've done some research and I'm confident about being able to stretch a low salary like $34-37k into a comfortable lifestyle provided I can find a good room situation.

$26-$30k for a finance major? That's crazy. Majoring in finance will at least get you $50k in this area. Where have you been looking for jobs on?

[The Dissenter]

Originally Posted by Nemesis16

$26-$30k for a finance major? That's crazy. Majoring in finance will at least get you $50k in this area. Where have you been looking for jobs on?

I'm actually a Business Management major but have financial experience and coursework. I've done the USAjobs, all the contractors I can find, and the big banks.

[Nemesis16]

Originally Posted by The Dissenter

I'm actually a Business Management major but have financial experience and coursework. I've done the USAjobs, all the contractors I can find, and the big banks.

What kind of applicable finance experience? Business Management is considered an easier degree than Accounting and Finance so that could be why you're not getting any looks. You should try applying to Deloitte, Accenture, KPMG, etc. They'll probably start you off at $55k with a possible bonus.

[Denton56]

Originally Posted by Carlingtonian

The three biggest things you can do to save money:

1. Ditch the car and avail yourself of the free public transit (at least, free up to $120/month) courtesy of Uncle Sam. (That does most likely mean taking a bus, as living near a rail station will mean high rents.) 2. Eat out rarely, and don't drink at bars at all. 3. As others have suggested, get roommates.

Other things willl help (e.g., scrapping the landline and cable TV), but the three things above will have the biggest impact.

Best of luck.

Sorry, no car, no bars, and no eating out doesn't sound like living to me, and I doubt it will to any young people.

[Mike10]

Originally Posted by Denton56

Sorry, no car, no bars, and no eating out doesn't sound like living to me, and I doubt it will to any young people.

lol.

[Deeman804]

Originally Posted by Denton56

Sorry, no car, no bars, and no eating out doesn't sound like living to me, and I doubt it will to any young people.

Exactly! The age is showing on many of the posters in this thread. My advice, compromise on car, bar, and eating out. You can eliminate one, but you can always cheap-it-out on the other two (Thank god for the cheap Aristocrat drinks at Adams Morgan). Really, if it comes down to it, some of my friends add roommates until they get to the price down to where they want it. It's not easy, but I dont think it would be much different than a 12/hr job in Louisville (unless your are living with parents...then I take that back).

[The Dissenter]

Originally Posted by Nemesis16

What kind of applicable finance experience? Business Management is considered an easier degree than Accounting and Finance so that could be why you're not getting any looks. You should try applying to Deloitte, Accenture, KPMG, etc. They'll probably start you off at $55k with a possible bonus.

Basically I worked in retail banking (mostly in the branches) for 3 years at different banks. Plus four or five finance classes in college.

I actually applied for management position with my old employer among other financial institutions, who I did leave on favorable terms. We'll see how that turns out.

Exactly! The age is showing on many of the posters in this thread. My advice, compromise on car, bar, and eating out. You can eliminate one, but you can always cheap-it-out on the other two (Thank god for the cheap Aristocrat drinks at Adams Morgan). Really, if it comes down to it, some of my friends add roommates until they get to the price down to where they want it. It's not easy, but I dont think it would be much different than a 12/hr job in Louisville (unless your are living with parents...then I take that back).

I could give up the bar easy since I rarely do it anyway, even then 3 or 4 $4-5 beers aren't that much to me. The car is paid off so basically I doubt it would cost me much money if it is sitting in a parking space while I use metro to commute. Eating out would be the most difficult to cut back on but gotta do what you gotta do. I figure I can stand roomates for a while since my apt is small anyway and not all that private.

[The Dissenter]

Okay some GOOD news.

I just accepted a banking position in Arlington at a salary of $35k with sales incentives. My start date is going to be Jul 2. I will be in town the weekend of Jul 22 to sign some paper work and look for a room.

[khuntrevor]

hope you don't have to sell bond funds to customers with money.

[Fern435]

Originally Posted by The Dissenter

Okay some GOOD news.

I just accepted a banking position in Arlington at a salary of $35k with sales incentives. My start date is going to be Jul 2. I will be in town the weekend of Jul 22 to sign some paper work and look for a room.

Congratulations! That's great news!