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Old 02-26-2010, 04:50 PM
 
248 posts, read 614,711 times
Reputation: 105

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60.5k salary for software engineer job just got thrown my way. I'm single and 24 years old
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Old 02-26-2010, 04:57 PM
 
Location: Loudoun County, VA
1,148 posts, read 3,369,992 times
Reputation: 402
I think you'd be more than fine, depending where you want to live.
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Old 02-26-2010, 05:10 PM
 
Location: Reston, VA
10 posts, read 15,652 times
Reputation: 14
I'm 23 and living alone on a $42,000 salary. I'm clipping coupons, not buying new clothing, and living frugally, but I get by. At $60,500 you should be able to live more than comfortably, depending on where you live and what lifestyle you prefer to maintain. Generally speaking a decent 1-BR apartment in the Dulles Tech Corridor (Reston/Herndon/Chantilly) will run you around $1,100-$1,200/month. Expect to pay slightly less further out (Leesburg, Ashburn, Manassas, Gainesville) and slightly more closer to the District (Vienna, Falls Church, Oakton). Once you get inside the Beltway be prepared to fork over $1,400/month for a typical 1-BR in most parts of Arlington and Alexandria, especially closer to $1,600/month for a prime location near a Metrorail station.

If I'm "surviving" paying just over $1,100/month on a $42,000 salary, then you should be able to afford a bit more on your salary. I also have a $200/month car payment for my Mazda, a combined renter's/auto insurance payment of just over $100/month, Internet/cable of around $100/month, student loan payments of $220/quarter, and credit card debt payments of $100/month.

Then again also bear in mind that a lot of people here are very materialistic. While I consider myself living "comfortably" living in a 1-BR apartment in a car-centric suburb and driving an economy sedan others in our peer group would need to drive a BMW, live in a loft, and wear Armani Exchange and Urban Outfitters to feel like they "belong." You will be judged by some people, whether you like it or not, by what you have (or don't have) and by what you do for a living (or don't do), so bear that in mind. At age 24 you should be proud of yourself to be earning $60,500. I feel like a semi-failure to be making $42,000 myself at age 23 because so many of my peers earn so much more. Congratulations on your new position, and welcome in advance to the area!
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Old 02-26-2010, 05:12 PM
 
Location: Virginia
8,121 posts, read 12,692,975 times
Reputation: 3771
Yep. You're good.
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Old 02-26-2010, 05:15 PM
 
3,378 posts, read 3,243,736 times
Reputation: 709
You should have no problem on that salary as long as you spend wisely.
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Old 02-26-2010, 05:59 PM
 
372 posts, read 1,012,538 times
Reputation: 213
Good for you?

Depends on your experience and qualifications.

Able to live comfortably?

Depends on how you spend money.

Most people, can live comfortably on that kind of salary.
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Old 02-26-2010, 09:16 PM
 
677 posts, read 1,019,363 times
Reputation: 603
If your wise with your money you should be allright. I know people that can't make it on twice that, just goes to show its not about how much you make as much as how well you know how to budget yourself and live within your means.
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Old 02-28-2010, 08:37 AM
 
Location: Northern Virginia
4,489 posts, read 9,585,325 times
Reputation: 3656
Are you willing to have a roommate? Where in NoVA are you looking to live?

I only have experience inside the beltway, but I make just slightly more than you do and would not be comfortable without a roommate (luckily I have a built in roommate in my husband!) If you want to live on your own in Arlington, for example, it's going to be tricky to save much money. If you want to live further out, or are willing to pick up a roommate, you should be fine.
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Old 02-28-2010, 08:41 AM
 
49 posts, read 90,700 times
Reputation: 77
are you kidding? 64K for a 24year old and you are asking if this is good for me??
you will have plenty, there are a lot of folks even older and with families who don't make that much.
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Old 02-28-2010, 09:01 AM
 
Location: Virginia
8,121 posts, read 12,692,975 times
Reputation: 3771
Quote:
Originally Posted by applepick View Post
are you kidding? 64K for a 24year old and you are asking if this is good for me??
you will have plenty, there are a lot of folks even older and with families who don't make that much.
I agree. My wife is 39 w/ a masters degree on step 14 with the schools and she doesn't make much more than that. I know, I know it is a teacher's scale, but the point is: "can you make it on that salary?" Definitely. I am assuming you would expect your salary to increase over the next few years too, is that correct?
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