Best Income Sharing Bootcamps 2020
Coding bootcamps are a revolutionary way to train for a career, and they offer notable benefits over traditional education. But what’s an income sharing bootcamp, and how does income sharing help students get the most from their education? Income sharing bootcamps make education affordable and hold schools responsible for providing the best education possible.
Income share agreements (or ISAs), pioneered by coding bootcamps, are new education financing programs that put the majority of the risk on schools instead of students. These programs defer the cost of tuition until after students graduate and find a job in the industry they trained for. Once employed, students agree to pay a percentage of their income for 2-3 years—then they’re free and clear of debt. If students can’t find a job (despite their best efforts) they don’t have to pay.
Income sharing bootcamps often have a minimum salary cutoff, preventing students from making payments unless they can afford it. The cutoff is usually between $50,000 and $60,000. These programs hold schools accountable for providing up to date curriculum and provide students with peace-of-mind.
The popularity of income sharing bootcamps is on the rise. After a decade or so of testing in the coding bootcamp scene, students and schools are satisfied—and more programs adopt the system every year. Schools benefit because more students can afford an education, and students benefit because schools are accountable to help them become competitive in the workplace.
As the career landscape changes in this country, bootcamps are becoming an ever more viable education option. With income sharing bootcamps, it’s now possible for students from more financial backgrounds to take control of their career prospects and get an education. Schools are more accountable than ever, and students can enjoy a host of new payment options that aren’t available from traditional institutions.
Best Income Sharing Bootcamps 2020
Why Choose an Income Sharing Bootcamp?
So, why choose an income sharing bootcamp? It depends—but income sharing bootcamps offer many benefits over traditional education (and even other bootcamp programs). When a school offers an income share agreement to most of its students, it’s a good sign that the program is confident in its students. After all, most ISAs forgive tuition if students can’t find a job—which means that a school only profits if its graduates find a job.
When choosing a bootcamp, most people consider affordability to be an important factor. Income sharing bootcamps are the champions of affordability, as they don’t charge tuition until you’re employed and making enough to pay for the program. Plus, payments are based on a flat percentage—often 15% of your new income—which means your payments are fairly based on how much you make. This system offers obvious benefits over traditional financing and helps break down the barrier-to-entry that once prevented thousands of motivated individuals from attending a bootcamp.
Compared to college, income sharing bootcamps can be infinitely more affordable and deliver results faster for many students. Remember—if you don’t get a job, they don’t get paid. And it seems to work, as the programs gain popularity with more schools each year.
Income sharing bootcamps are available in a variety of subjects and schedules. Some programs offer self-paced and part-time schedules, making it easy for most people to find a bootcamp that fits. Thanks to ISAs, it’s never been easier to get an education and train for a career in tech. We’ll get into more detail about ISAs and income sharing bootcamps, along with what to expect in a typical course.
Income Sharing Bootcamp Curriculum
Income sharing bootcamps are available for most coding careers. Each program has a slightly different curriculum, but most courses focus on a similar set of subject-specific coding languages. The subjects you learn will depend entirely on the technology field you choose. The most popular bootcamp subjects are software engineering, data science, cybersecurity, web development, and data analysis.
We’ll focus on data science to give you a better idea of what to expect from an income sharing bootcamp. Data science is a popular and high paying field that many bootcamps cover. In the United States, data scientists earned an average base salary of $113,309 according to Glassdoor. Keep in mind that many large national bootcamps offer income share agreements, and the curriculum is the same for all students.
We compiled a list of the most popular data science coding languages. And while each school compiles its curriculum differently, the majority of data science bootcamps cover most (or all) of these coding languages and tools. If you’re in the market for a tech education with an income sharing bootcamp, this list should give you a better idea of what course load to expect.
And while this coding language course load may not seem as heavy as software engineering, it is—data science is an analytical position, and intense training is required to master these languages. Remember, coding language curriculum varies between subjects and schools, so each engineering position requires different training.
During the course, students often begin with a conceptual introduction to get an idea of what to expect in the position. Students begin coding almost immediately after, and the complexity of subjects increases over time. By the midpoint of the program, students often work on real-world coding problems.
Collaboration is a major part of coding bootcamp curriculum. This is because coding jobs require many engineers to work together, so learning how to work on a development team is essential to student success. Some income sharing bootcamps call it ‘peer projects’ and it’s common practice in the bootcamp education world.
Students have an opportunity to work on a large final project during these programs. This project, called a ‘capstone project’ is often the first portfolio example students create. These full-scale creations help students demonstrate their skills and find jobs after graduation.
Popular Income Sharing Bootcamp Courses
Income sharing bootcamps cover a range of subjects across all typical bootcamp fields. However, some programs—such as software engineering and web development—are particularly popular. Small bootcamps that offer income share agreements often specialize in one or two fields, but popular programs are available from most major bootcamps. We put together a list of some of the most popular income sharing bootcamp programs.
Income Sharing Bootcamp Interview Process
Signing up for a coding bootcamp doesn’t mean you’ll be admitted automatically. Like colleges, coding bootcamps can be selective about who they admit. After all, bootcamps need to ensure that its students are capable and committed to the program. Luckily, coding bootcamp admissions usually has little to do with high school or college grades. Coding bootcamps evaluate students based on ability, goals, and other holistic factors.
Nonetheless, there is usually an interview and testing process involved with bootcamp admissions. First, students submit an application with basic information, and perhaps some personal information related to coding experience and career goals. If the admissions staff approves the application, students are invited to an in-person or online interview.
During the initial interview, students have an opportunity to get to know the program. Additionally, the admissions staff can gauge the student to see if their school is a good fit. During the initial interview, students often receive a basic coding test. Many schools provide resources to study for the test, and everything you need to learn is available online.
Income share agreements generally require additional screening during the interview process. ISAs are a big financial risk for schools, so (predictably) the standards can change. Students are sometimes required to submit to a credit check. Other factors are considered as well. Each school’s income share agreement standards differ, so be sure to inquire about the details with your chosen bootcamps.
Income Sharing Bootcamp Structure
Midway through the program, most students have a few weeks (or more) of coding experience under their belts. Peer projects are a common way to help students apply their new skills practically. During this portion of the program, students explore many advanced concepts and high-level programming languages.
Towards the end of the bootcamp, students begin working on complex projects. The capstone project is a highlight of the final phase of bootcamp. Students use this project as a chance to demonstrate their skills to the class and potential employers. Many capstone projects are group-based, but students split responsibilities evenly to create a functioning product. Most bootcamps offer career counseling or job placement services at this point as well.
Alumni Projects and Portfolios
Alumni bootcamp projects are particularly interesting, as they demonstrate how far students come in the program. Capstone projects are a time for students to apply themselves on an assignment of their choice—and many people create amazing programs. We found an income sharing bootcamp alumni project that’s a good representative of these assignments.
One interesting bootcamp alumni project from Lambda School makes uploading video lectures easier. Before we get into the specifics, here’s some background on the program. The Lambda School is an online income sharing bootcamp with a growing community of graduates. The school uses Zoom, a video meeting service, to hold live lectures in place of in-person class time. Each lecture is uploaded to YouTube to help students’ study, but the process is arduous and time-consuming. To solve the problem and make access easier, Lambda students created a unique new program.
The software, called Arc_Hive, uses the APIs from Zoom, Slack, YouTube, and AirTables to streamline the uploading process and make it easier for students to access lectures. When instructors finish recording a Zoom lesson, the program automatically uploads the video to YouTube, sends a link to the student Slack channel, and systematically archives the video in AirTables. This capstone project is an excellent demonstration of how automation can save countless hours of labor and make our lives better.