u/NubLicker wrote (the comment Michael replied to):
TC could be hard to normalize for CIRR. A lot of codesmith grads go to startups, where equity can be hard to accurately quantify in terms of dollar amounts. I don't think they need to market higher numbers though. A lot of people are already skeptical of the deflated numbers publ
u/michaelnovati replied · ★ FEATURED
Yeah tell me about it. At Formation we were trying to do this and decided to excluded private stock and options that had no primary or secondary market value in our numbers - which obviously lowers them, but in Codesmith's "Where are they now" report (which is not CIRR based) says they include all that in their numbers ("signing/annual bonus, stock options, equity, and relocation expenses") so presumably they have a way.
But I totally agree it's impossible for early stage private equity and options. The outcome is a range of probabilities and maybe they have some consistent way of calculating a mean.
Disclaimer, the following might appear critical of Codesmith, but I want to focus on the HOW IT HAPPENS instead of the WHAT HAPPENS. I also need to reiterate that it's a great program with great outcomes and a heck of a lot of fantastic alumni who are are hard working, professional and great.
I think the reason salaries are higher are 1. higher bar of entry, someone said it well that you can probably get a $60K job BEFORE Codesmith if you meet the entrance bar. 2. The OSP projects branded as work experience are not a secret and bundled with the negotiation advice of "Just ask for $150K and a $30K signing bonus and let them counter if they don't think you're work it", many people have expressed that this is a bit sketchy and you can go either way on it on your opinion on the matter. I don't judge people where they land on this, but you have to acknowledge the controversial aspect.
I don't mean to piss people off but the lectures and curriculum are nothing significantly different than other programs to justify the results. The teachers are all alumni - some who stay on full time, and aren't magical teachers with magical powers to teach or else maybe they should make a bootcamp that teaches teachers how to teach. Like Codesmith is a well run ship and the might have the BEST curriculum and the BEST teaching out of any bootcamp, but that's not the secret sauce that creates outcomes that are 20%+ higher than everyone else.... it's the two points above in my opinion and what they uniquely do better than anyone else is in learning how to get people jobs - and that's what a lot of people want in a bootcamp!!