According to a recent article in nerdwallet, “The average college graduate with a bachelor’s degree left school with $28,446 in student debt in 2016, according to data from the Institute for College Access & Success. There are 44.5 million student loan borrowers in the U.S., and they owe a collective $1.5 trillion as of March 2018, according to the Federal Reserve.”
A recent article in Bloomberg focuses on how student loan debt has set new records. The decision to acquire debt for higher education is very serious. In addition, you need to consider what careers are in high demand and offer excellent salaries when investing in education.
According to a recent article in U.S. News & World Report:
Thanks to high salaries and increased demand for their services, health care professions dominate the Best Jobs of 2018 list. But even though they account for 20 of the 25 top careers, no doctor or nurse position beat the best profession of the year: software developer. The ubiquity of digital technology has made these career coders critical to modern life.
Source: U.S. News & World Report
Most people look at 2 paths to become an IT Developer: 4 Year College Degree or a Coding Bootcamp.
There are many considerations to make when choosing whether to learn to code at a coding bootcamp, or by doing a computer science degree at university. Coding bootcamps are around 3 to 6 months long, intensive, teach you very practical, applicable, up-to-date skills, and give you career coaching, but are not usually accredited, so you do not get a qualification. If you attend a coding bootcamp you will need to prove your skills through your portfolio. CS degrees are around 4 years long, cover in-depth theoretical material, teach you established programming practices, and provide you with a degree to show for it, but you will still need to prove your skills in a technical interview. Coding bootcamps cost between $10,000-$20,000 all up front, whereas CS degrees can cost up to $20,000 per semester.
Whenever you make a purchase whether it’s a car, home or an educational program, it’s always wise to calculate your ROI. While traditional college graduates are facing unparalleled unemployment rates throughout the nation with no end in sight, most coding graduates secure a job within 3 months of graduation. Since these accelerated learning programs thrive on their job placement rates, it’s equally important to schools that graduates are placed.
Timewise, ROI’s a no-brainer – most coding bootcamp graduates invest 3-6 months in a program, while college students invest 4 years. But what about the financial investment? The average starting salary of a coding bootcamp graduate is $70,698. A CS degree graduate can expect an average salary of $50k-106K. For a fraction of the time investment, coding bootcamp graduates will earn nearly as much as computer science graduates.
When it comes to ROI, coding bootcamps require less time, less money and offer nearly equal earnings when compared to a CS degree.
Source: Course Report
Not sure if a Coding Bootcamp is right for you?
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