u/rollingdev2 wrote (the comment Michael replied to):
hey so how is more bootcamp grads better for your business if you only take a cut if they place? or are you charging everyone who doesnt place after x months? i cant find this on your website
u/michaelnovati replied · ★ FEATURED
You can pay month to month like a gym membership (this is typically senior engineers who have interviews lined up already and a short timeframe as it's very costly if you did month to month for a long time) or a $5K upfront and variable fee based on how much you increase your base salary from your last job when placed ($0 to $15K extra).
We haven't taken fresh bootcamp grads with no experience since 2023 and earlier (with a a single digit handful of except cases).
I really wish I wasn't doom and gloom but we (not just me but my entire team) have robust networks, and it's insanely hard for bootcamp grads right now.
So it's good for Formation because bootcamp grads have to take whatever job they can get right now, and then in a few years they have various gaps that we are perfect to help fill in gaps they need for really great tech job they wanted but couldn't get initially.
Not everyone wants this but most people went to a bootcamp with a dream of working in an awesome company (not necessarily FAANG) and aren't able to get that in their first or second job.