UP doesn't seem to care where you're living in relation to the hiring location, but NS does (I was conditinally hired with both but chose the thoroughbred). Although I know some folks from NS have applied and were hired at a location far from their home, I think that's the exception rather than the rule. I applied in a few places with NS and didn't get the green light until a location 30 miles away from my address showed up online.
NS pays $100 dollars per day while in Phase 1 training, but your first check won't be until about 21-28 days after starting, so keep that in mind. In Phase 2-4, you'll make $500 per week, but the training away from home terminal helps as you're reimbursed mileage at 48.5 cents per mile. Sure makes a nice supplement to the $700-$750 you make per check (once per two weeks) after taxes are taken out.
We're way short on conductors in my home terminal so the money should start rolling in big time once I'm qualified and marked up. Yes, as was mentioned it's all safety out here and nothing less. If you have any safety related jobs prior to hiring, make sure you stress that on your resume and during the interview itself.