u/metalreflectslime wrote (the comment Michael replied to):
Does anyone know how many students are in the current cohort? A current Hack Reactor Remote student told my brother that the current West Coast 16-week cohort started with 7 people but it now only has 5 people. The current East Coast 16-week cohort started with 4 people but it no
u/michaelnovati replied Β· DELETED Β· archived copy β
FEATURED
I can't disclose exact things nor do I proactively reach out to people about it. From what people told me the numbers aren't good.
They removed all their highest paid employees and pay very low now. They fired the most expensive people and hired people in their place and paid them a lot less for the same job.
Codesmith is $22,500 so if you have 10 people every 8 weeks, thats $225,000 or about $100,000 a month.
Their staff right now:
1 instructor: $10,000 (they are paid a lot less now)
3 mentors/combined fellow: $30,000 (fellow is multiple people part time)
1 coordinator: $6,000
1 admissions: $6,000
1 outcomes: $6,000
Marketing/Career Support: $6,000
Overhead = 20% $13,000
Total: is like $80,000 or so?
I think this is why they are clinging to life, they convince loyal alumni to work for a fraction of what they should be paid... like those MLMs that run off of the labor of the leaf nodes.