Caddying is cush, no doubt. Just keep in mind (OP, anyone else looking for a job) that as the new guy, you're going to be at the bottom of the caddymaster/starter's list, so there will be some slow days where you'll probably show up and then not go out. Also, $50/bag is somewhat unrealistic if you're new to caddying, especially if you don't play golf fairly seriously. As you develop the right rhythm, and get good at anticipating the players' needs, your tips will go up. Especially if you're good at watching balls fly through the air. If you can save a player embarrassment in front of his friends/business associates/whatever by seeing where exactly his shot landed, instead of having to spend 5 minutes looking for it getting frustrated and taking a drop penalty, he will appreciate it. And you will get paid. If you can read greens, you're going to be rolling in it.
But yeah, it's awesome. I used to caddy at a club where I was getting $75, even $100 a bag from guys who knew me. That's when the job gets great, when players start asking for you.