New college grad salary/cost of living question

[Anonymous]

My D is graduating college in May and accepted a job here in DC. Starting base salary is 40k plus commission (there is a slight sales bent to the position) so she could realistically make 45k+. Time will tell. She has ZERO debt. She had been planning to live at home but some friends are talking about moving to DC but rent is so expensive. I don't feel comfortable asking my friends about their kid's salaries but it does seem many of them do pay rent and make it work. After taxes and such, I am unsure if a 45k-ish salary is enough.

Can anyone share the approximate salary of their recent college grad who does pay rent???

[Anonymous]

I lived in DC from 2005-2011, worked as a waitress/bartender and made about 15000 a year. I managed to pay rent, lived alone on Capitol Hill and shared an apartment in Dupont Circle. It can be done.

[Anonymous]

She can do it. She just can't get a super fancy high rise apartment in a trendy neighborhood, unless she has roommates, and even then, those places are designed so that you are still paying out the nose. You can get a reasonable place close in for a reasonable amount, shared. Or she can go it alone and live in some place that's gentrifying - I hear Anacostia is getting some nice places now. I chose South Arlington and never left!

[Anonymous]

Anonymous wrote:She can do it. She just can't get a super fancy high rise apartment in a trendy neighborhood, unless she has roommates, and even then, those places are designed so that you are still paying out the nose. You can get a reasonable place close in for a reasonable amount, shared. Or she can go it alone and live in some place that's gentrifying - I hear Anacostia is getting some nice places now. I chose South Arlington and never left!

This. Let her go on her own. She'll figure it out and hopefully thrive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:She can do it. She just can't get a super fancy high rise apartment in a trendy neighborhood, unless she has roommates, and even then, those places are designed so that you are still paying out the nose. You can get a reasonable place close in for a reasonable amount, shared. Or she can go it alone and live in some place that's gentrifying - I hear Anacostia is getting some nice places now. I chose South Arlington and never left!

This. Let her go on her own. She'll figure it out and hopefully thrive.

+2
Best learning experience ever. Moved to DC from southeast in 2006 on $42k salary. Lived alone in studio in Arlington. Took bus to metro and metro to work. Paid all my own bills AND had student loans. It was tight but it was fantastic.
Let her do it.

[Anonymous]

Extremely conservative takehome is around 2,000 probably more like 2,500 but to be safe

Rent 1,000 (Roommates/craigslist etc) this is key don't go over 1k for rent
Food 250
Fun 250
Savings 250
Other 250

Its doable and like others have said tons of people are doing it and many on less per month

[Anonymous]

OP here. Great responses, thank you! It is her decision 100% so I am happy with whatever she decides. Thanks!!

[Anonymous]

This is such an exciting time for her! Living with roommates in a city and learning how to make it all work on your starting salary is a rite of passage.

She shouldn't have any trouble with that salary and roommates. Just let her know where the good happy hour specials are and it's never okay to pay $10 for your mixed drink.

[Anonymous]

She can most likely find a room in a group house for less than $1k in rent. Really, the way I made it work (on about $38k) was finding a place in Arlington with a roommate where I paid about $550 in rent. I had lived at home for 2 years waiting tables (and making more like $45k) so I had a nice savings account as a back up. That helped a lot.

I do think some college grads have parental help to pay rent. I knew several who lived in gorgeous places because their "daddies" didn't want them to live anywhere dangerous or without a door man...

[Anonymous]

When I was her age, I shared a 4-bedroom apartment with nine people. We had a blast. It's fun to be young and live with roommates.

(Later, in my 30s, when I was still broke and living in a group house, that felt less fun. But I digress!)

[Anonymous]

Yes, absolutely. This is a ridiculous question.

-signed, young professional in DC who has been out of college for 3 years and makes under $40k

[Anonymous]

Not only can she do it, but you should encourage her to and not back her up financially. You should push her to not live at home. I know that there are lots of valid voices out there saying "save money" but the life skills and memories and networks one can create by being young and poor in the city is invaluable.

I also am (in hindsight) grateful for calling my mom and crying, "I only have $75 to get through this week to the next paycheck." and her going, "You will figure it out!" And I did.

[Anonymous]

Absolutely.

I graduated from a DC university in '07, making $32k for bills (which included debt) and waiting tables on the side to afford fun and food. I was lucky enough to not have roommate but super cheap rent for 7 years until I moved out when I got married.

She'll be fine and if she needs money, I'm sure she'll ask you but maybe encourage her to get a second job instead of giving it to her. My single years in DC "making it" were some of my best.

[Anonymous]

Group house is the way to go. Built in social life and cheap .

[Anonymous]

I didn't live in DC but my first job out of college was 34k/year and I spent about $700/month on rent in a shared apartment with one roommate. That was totally doable. That included a $250/month car payment plus retirement savings. After a few years, I was putting away a grand a month in savings for a downpayment b/c I had stuck to keeping my rent low by keeping a roommate.

I would encourage her to stick with roommates as long as possible in order to save money for when the day inevitably comes where she'll want to be on her own.