[macosxnerd101]

Don't go for a more formal job; go for an internship. A lot of colleges, at least in my state, offer some sort of assistance to help CS students land internships. In addition, if these jobs require experience, the best thing you can do is write programs. If you have an especially large or good project you worked on and are proud of, put it in your portfolio to show. This could be a school project, a volunteer project, or just a personal project you are working on. The important thing is to show employers you can produce.

Quote

How easy is it to land a job out of college?

I just landed an internship as a programmer at a local IT firm, so I may not be the best person to testify to this. While the interview went so well that I got hired on the spot, I called almost every other place in town before I got an interview. That is the hardest part.

Quote

How long are the hours? I feel like I will end up working 80hr/week, and have no life outside

Depends on your job. If you are a lead developer or project manager, this is more likely. However, if you are a standard developer, you'll probably work maybe 40-50 hours a week, clocking in and clocking out.

Quote

How important is your academic transcript / GPA

The degree you get and the rigor of the curriculum speak more to a potential employer than a transcript. That being said, graduating with honors doesn't hurt either.

[nooblet]

To answer the OP's question, this question highly depends on numerous factors and there is no right or wrong way to go about this. For starters, salary depends tremendously where you're located. The pay range is so broad, it's impossible to pinpoint. Second, hiring does not depend just on number of years of experience on the job, etc. It depends highly on YOUR skills. As an employer, I've reviewed several thousand resumes and I can tell you that when assessing skill set, I've rejected people who've so-called worked or have programmed for 30 years but have hired people who have never held a programming job professionally. It highly depends on how good of a programmer you are, not just because you scored some degree, although many companies will take into account whether or not you have the degree. Academic will play a role but they're not everything. Hours will vary depending on the company you work for and role you're in. Again, this is a very broad question without a set of exact answers. Overall though, I still believe it is a lucrative field to be in.