Average starting salary for CS undergrads today is $57,000. He did say "entry level dev gig".
If you live alone in a major city, have student loans, and don't have great healthcare benefits from your employer, you'd be lucky to save much of anything on that salary. Banking $10k is a pipe dream.
I made $70k / year for the past 7 years (finally got a raise at the start of this year), so ages 23 - 30. My work health insurance covered me, but not my wife, for most of that. We had our first daughter a week after I turned 27 and twins a week after I turned 29.
MY wife worked at a coffee shop until we had our daughter. Making around $20k / year.
In that time, we grew our net worth to $250k.
That's not a lot by some standards, but it is a hell of a lot more than most people our age have. Even people in similar income brackets as us. All it takes is living below your means.
At UMD, a good but normal state school, that figure is a little above $85k.
I would be surprised if the $57k figure was accurate for people living in major cities.
I would also be surprised if the average CS graduate is competitive enough for roles in major cities. The most desirable roles are only going to be realistic for the most qualified candidates.
If you live alone in a major city, have student loans, and don't have great healthcare benefits from your employer, you'd be lucky to save much of anything on that salary. Banking $10k is a pipe dream.