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Does an income share agreement with a bootcamp stall you from getting hired?

3 of Michael's comments in this thread · View thread on Reddit ↗

u/michaelnovati replied · · edited ★ FEATURED
Companies have nothing to do with ISAs so I would be curious to know what’a really the problem. At Formation, we have ISAs for a different purpose - we aren’t a bootcamp, but we train and mentor people (many who went to bootcamps and are now working at their first job) until they get a new job and then they start paying back their ISA. Because we keep working with people until they get that job, no matter how long it takes, everyone has been happy with this model and not once have people been turned away from jobs because of this. People are going to Google, Meta, Amazon, Microsoft, Apple, Dropbox, Figma, and dozens more and not once has an ISA come up. So I have some follow up questions: 1. Why is this even coming up in conversation, no one should know or care about how the person paid for their program? 2. Perhaps the person’s resume hides that they went to a bootcamp? and it’s the reputation of the bootcamp, when discovered, that is ruining opportunities. There are certain schools I shall not name that I’ve heard managers say “we will never hire from that school”. Do you know what bootcamp they went to?

u/starraven wrote (the comment Michael replied to):

>Companies have nothing to do with ISAs In my experience the bootcamp grad had to send a letter to the hiring company alerting them of the ISA.

u/michaelnovati replied ·
Wow that seems so weird, do you know which bootcamp? An ISA is just a contract between you and the program and they can have whatever terms they want in them. Like ISA’s have no standard rules or anything at all and this is one of the reasons people are cautious with them. Very curious to know more about this!

u/starraven wrote (the comment Michael replied to):

>Companies have nothing to do with ISAs In my experience the bootcamp grad had to send a letter to the hiring company alerting them of the ISA.

u/michaelnovati replied ·
Our ISA is very much trust based too in practice. We take a person’s offer letter as proof of base salary and don’t dig into tax records and stuff. It’s possible some programs are doing extreme income verification with the company and alerting them to the fact that their is an ISA?