Are coding bootcamps worth it? The data says "yes." According to a 2014 Course Report survey, the majority of graduates of coding bootcamps are finding full-time employment, and 75% of graduates surveyed report being employed in a full-time job requiring the skills learned at bootcamp, with an average salary increase of 44%. That's a $25,000 salary increase!
But while the average bootcamp graduate can justify tuition, you should think critically about your personal financial situation and how it may affect your bootcamp Return on Investment. This means you should be considering factors like opportunity cost, student debt, and financing fees. Here are two tools to use in your research from our friends at Earnest and Bloc:
Start with This Bootcamp Finance Worksheet
Earnest, a technology-enabled lender that works directly with a number of bootcamps, created this worksheet for students. It will force you to think about the basic expectations you should have when you graduate.
Try this Calculator
Bloc recently released a calculator that compares the return on investment of bootcamps in 9 different cities, based on factors like length of program, location, and opportunity costs like lost wages.
Heads up: this calculator is a side-by-side ROI comparison of ~20 bootcamps in large US cities, but since Bloc is the only one of those bootcamps that can be done online and part-time, lost wages are never an issue, so expect to see Bloc at the top of your results when using this calculator. Still, we think this is a great tool to use in your research!
Wondering about financing and loan options? Check out our Ultimate Guide to Coding Bootcamp Loans & Financing.