Ya'll really think bootcamps are rolling in dough. They don't get federal money and good talented instructors, infrastructure, offices, benefits, salaries as well as taxes decimate profits.
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Instructors who have $150k-$200k salaries have benefits and taxes atop those sa
u/michaelnovatireplied·· edited
Yeah everyone is struggling. Both Rithm and Codesmith have been reducing the number of future cohorts too. And Codemsith has almost 20% layoffs so it's not really handling the climate amazingly and people are nervous, but it's surviving.
u/staylucid1 wrote (the comment Michael replied to):
**Galvanize / Hack Reactor has ceased running all part-time programs starting today.** All active students were just told tonight at start of class.
u/michaelnovatireplied·
Thanks for sharing, do you have any primary sources you can share?
u/Practical-Ad3920 wrote (the comment Michael replied to):
I don’t understand how they could be loosing money. My Hack Reactor cohort had 60-80 people. That’s $1.4 million for 19 weeks. By far the largest expense is going to be instructor salaries. At any given time you have 3 instructors so that’s roughly $150k for instructors. Double t
u/michaelnovatireplied·· edited
I can go into more details, but if you pay via loan or ISA the program has complex agreements with the loan providers to receive portions of the loan/ISA upfront themselves. But all of this is contingent on how those providers are predicting outcomes and the math for how much interest they'll make all said and done. If those providers start seeing worse outcomes then they expected they might pull financing or change it in a way where the bootcamp won't get enough money upfront to be able to run the program anymore. They would have to choose between other forms of debt, in hopes that the outcomes are better than expected, or give up and take the loss.
It's a lot more complicated than it seems though.
u/retrac1324 wrote (the comment Michael replied to):
https://i.imgur.com/5beuvG8.png
u/michaelnovatireplied·
Thanks! Also just to clarify, I wasn't questioning the validity, I just firmly stand behind using primary evidence where possible because if you turn on the TV, you see how messy things are.
u/Tbh_idk______ wrote (the comment Michael replied to):
You think the bootcamp education is low quality?
u/michaelnovatireplied·
It’s the nature of bootcamps that I think they could never offer the overall quality to compete with a good CS degrees education quality.
That doesn’t mean you shouldn’t do a bootcamp, that they are all bad, or that there aren’t good specific instructors out there at bootcamps.
For example, one of the top bootcamps, their DS&A has a as a day or two on data structures just covering all topics at once and then a day or two on algorithms, just dumping it all on you. And the instructors have never worked in industry and graduated from the program.
Versus my degree where my first 16 week course was data structures and algorithms taught by one of the best teachers at the school who is an industry leading researcher and professor, and then did 20 more courses after that. including an entire other course on advanced data structures and complexity analysis.
u/BudgetSense8077 wrote (the comment Michael replied to):
I called it. I knew it. I made the original post on this sub 4 months ago stating
Out of my 38 graduating cohort of HR. Only 7-8 are currently employed 8months later(at that time)
>And then I wrote a paragraph about how “if this continues I cannot possibly grasp how this progr
u/michaelnovatireplied·
It's Reddit after all haha!
u/Lost-Nobody728 wrote (the comment Michael replied to):
lol, you think instructors are getting paid $50k?
u/michaelnovatireplied·
52 weeks in year / 19 weeks per cohort = 2.7.
$50K for cohort = $135K per year.
So that's reasonable, but you do need to gross up benefits and taxes, and it assumes continuous 19 week cohorts.