What do you think about this lens? Is it a good investment for a novice? I've read some good reviews about it.

Yes, it's good for a beginner!  But I have also heard the 1.8 is really good as well, and much cheaper!  I have it (1.4) & like it, but just don't reach for it much these days now that I have a few L lenses :)

I used to have the canon 50mm 1.4 and sold it for the sigma 50mm 1.4 and never looked back. This being said, there are some bad seeds in the sigma 50mm 1.4 family. I was lucky to get a tack sharp copy.

I'm a novice, and I purchased the 50mm 1.8, since the price difference was pretty significant. I use it now and again, but not on a regular basis.

I actually like the Nikkor 50mm 1.8 more than the 1.4. And it was cheaper.

hmm ... lots to think about. I have the kit lens, but I'm looking for a better quality everyday lens. I'm still in college, so the 70-200 2.8 is out of the question. I'm looking for a more budget conscious option. What would y'all recommend? What is your everyday lens?

I have the kit lens (18-55 I think), a 75-200, and the 50mm 1.8

Honestly, I use my kit lens 96% of the time. I hardly ever use the 75-200. I do use the 50mm lens when I'm trying to do specific shots with my son. I like it for the shallow DOF, but when he's wiggling, the fact that it's fixed is tough sometimes.

Another thing to think about is 'generic' brands. My 75-200 is by Tamron, they make canon compatible lenses for much less than the name brand

@ajfisher, that's interesting.  Can you share what you like better about 1.8?  Is it the image quality, or just the price?

mainly the price. When I tried both out, I got almost identical images, with the 1.8 slightly sharper. I also like the lighter weight of the 1.8. My other lenses are heavy, so it's a nice break. 

I'll probably end up purchasing the 1.4 later, but probably the Sigma brand not the Nikkor.

I highly recommend getting a fast lens. I have both the 1.4 and the 1.8. The 1.8 is great if you're a hobbyist, but if you want to do anything pro or semi pro I would recommend investing in the 1.4. It's pretty fabulous! And you'll get a lot of use out of it personally as well - parties, dark locations, shallow dof, etc.