It's hard to live on $75k in Manhattan, but you can live fairly comfortably on that salary in other boroughs or NJ. I would be very surprised if the offer hadn't gone up substantially since this post was written. Nowadays, new grad offers for well-paying companies (Google, Facebook, etc.) are in the ~$100k range for salary, with a bunch of stock and signing bonus thrown in. Fog Creek wouldn't be getting the top 1% of talent if they weren't matching these offers.