u/Efficiu wrote (the comment Michael replied to):
So your main evidence to question switchups credibility is based on their static web form to submit reviews not being updated since 2020…. (even though it’s literally a generic form for students to submit reviews)? Do you think we’re all idiots here? How does that have anything
u/michaelnovati replied · ★ FEATURED
I don't think anyone here is an idiot, no.
Remember all those sports card price magazines and pokemon card price magazines and beanie baby price magazines, that are all gone... they only survive if the underlying thing survives, and many of them have been accused of inflating the value of the cards and of the beanie babies to keep the hype going.
According to Crunchbase (I can't disclose confidential non-public info): Rithm is backed by Slow Ventures and Codesmith is backed by a serial entrepreneur, film producer, and investor Chad Troutwine.
We publish some salary data of outcomes on our website and have for a while.
Happy to try to answer these questions, they are extremely reasonable questions:
“average percentage of students that finds a job within 3-6 months of program”
\- I'm not sure what this means. Of STARTING Formation or of when? Everyone starts Formation at a different point - could be zero experience, could be 10+ years as a SWE. If I was a candidate I wouldn't want to be mislead by aggregate time of placement. We try to give people 1-1 estimates based on non-statistically significant number of people similar to them.
“Overall percentage of students who find employment”
\- We work with people for how every long it takes to sign an offer that meets their goals, whether it's a month or a year. I don't know the exact numbers but a small number of people leave in the first week because Formation was more intense than they expected, or they expected more handholding, or other misalignments. A smaller number of people leave because of changing life circumstances, like long term medical or person issues, or changing goals/direction. So I'm hesitant to say 100% without the caveats but as long as you show up and do what we ask you to do, it's 100% without any guaranteed timeframe.
“Base pay averages” without TC And “overall pay with TC”
\- This is on our website, please read the disclaimers on how we calculate it there. Most importantly private stock and options are excluded entirely, which brings down the averages:
(May 2021 to July 2022)
EXPERIENCE / BASE / 1ST YR TC
No Experience / $119K / $134K
1-2 YOE / $137K / $181K
3+ YOE / $155K / $204K
All of the data since July 2022 continues to bring up the averages (especially Amazon and and we're hoping to update soon!
Our overall goal is to accelerate your career. Several people start with $200K TC and end up with $300K/$400K, others start with no job post bootcamp and end up with $130K TC, others have zero experience and end up making $90K. We constantly collect feedback on how satisfied people are with every aspect of Formation so we can create the best experience we can for Fellows, and helping them meet their goals, whatever they may be, is our #1 priority.