The salary of 7000 and to 8000 is not bad and as you plan to save 5000 from what you earn is a good thaught and i wish every body things this way and develope themselfs and their family by good planning and living to their means . You could do it if you are really prepared . you may get a sharing room at 700 t0 800 , transport at 500 to 600 a month and you may mange your food and other personal expenese at 800 to 1000.
I am sure you can save 4000 if not 5000, when you get 7000, when you join . Please go ahead but make sure that the compay pays you what is commited . God bless