Whereas some fields still require lengthy formal education, such as medicine, other fields are beginning to relax the constraints on employment.
Fueled by the high demand for talent, technology companies are beginning to look at other ways in which they can fill entry-level positions apart from targeting those that are graduating from computer science programs.
There has been an explosion in the number of so-called “coding bootcamps” over the last decade.
The premise is simple: students pay to enroll and are given a crash course in computer programming using the most common languages and tools in the industry.
Courses typically last 6 months to a year, and those that perform well have a good chance of landing a well-paid job at a technology company, without having to have spent the time and money required to go through a university degree.
The cost of enrolling in a coding bootcamp is still high, however: according to Course Report, bootcamp tuition fees can range from $9,000 to $21,000.
This is still not as expensive and time consuming as college, given that many offer their tuition online, but it is still expensive enough for it to be a considered life decision for many to enroll.
One of the highest profile coding bootcamps is Lambda School, a San Francisco based bootcamp offering courses in computer science combined with either full-stack Web, Android or iOS development.
Students can also task courses in Data Science or UX Design.
These are all highly in-demand skills in the technology industry.
Entry level positions in these roles in tech-centric US cities such as San Francisco and New York City can net six-figure starting salaries.
This bootcamp model seems to be working: Lambda School announced in January that it raised $30 million in Series B funding from venture capital firms such as Google Ventures, and renowned startup incubator Y Combinator amongst others, giving it a post-money valuation of around $150 million.
In addition to having no physical campus with courses being delivered online, Lambda School is offering an extremely attractive financial arrangement for those that enroll: as an alternative to paying the $20,000 tuition fee up front, students can opt to enter an income share agreement.
This allows them to defer payment until they are earning over $50,000 annually for two years.
At that point, 17% of their salary is paid back to Lambda School until the debt is paid off.
If students are unable to find a job with this level of compensation after five years, they owe nothing.
For students from disadvantaged backgrounds, or those wanting to make a complete career switch, this offer is seriously enticing.
Via their Twitter accounts, current and past Lambda School students share their stories of success.
There are numerous tweets highlighting graduates that have landed full time programming jobs, with some earning around $100,000 a year.
“I make more than both of my parents combined,” writes one anonymous user in a screenshot from their Slack account.
“Also my family situation requires me home a lot, which was a huge motivator for the switch to tech anyway.
”According to the self-reported outcomes webpage, graduates have gone on to work for well-known technology companies such as Stripe and Uber.
Of their first four cohorts for the Full Stack Web Programming bootcamp, 100%, 88%, 71% and 75% have gone on to find jobs, respectively.
At the time of writing, Course Report gives Lambda School an average rating of 4.
91 from 65 reviews, and SwitchUp reports a similar average from 143 reviews.
But are students happy?However, searching online for the experiences of students doesn’t come up all roses.
Clusters of reviews on Reddit offer a different picture of the student experience.
“I’m going to say this course is not worth it and I don’t recommend it,” says user SpecialistManner.
“It’s a scam with a business plan.
It’s basically a MOOC [Massively open online course] without the organization, a Slack channel, and 8,000x the brogrammer snark,” reports another user.
Various posts highlight concerns, such as unprofessional staff, the disorganization of Slack communications, and inability to cater for the learning styles of individuals.
“They have still neglected to report their hiring stats to CIRR since forever,” writes a participant on Reddit.
The CIRR, or the Council on Integrity in Results Reporting by its full name, provides a standardized system for reporting student outcomes for courses.
This omission has since been rectified by Lambda School, and the graduate outcomes for January — June 2018 are available.
It states that 71 students graduated in the reported time period, with 51.
4% graduating on time, and 78.
5% graduating within 150% of the length of the program.
After 180 days, 85.
9% of students had achieved full-time employment, with a median salary of $60,000.
8% of students had landed jobs paying $80,000 or more.
Lambda School isn’t alone in reporting similar success rates.
Hack Reactor Austin reports 94.
5% of 50 students in full-time employment earning a median pay of $76,500 and Codesmith NYC reports 91.
2% of 31 students employed at a median pay of $112,500.
It is worth noting that most, if not all, schools and colleges have their fair share of bad reviews.
According to StudentCrowd, the University of Oxford and the University of Cambridge, currently ranked as world number one and two in the Times Higher Education university rankings, have reviews of 4.
4 (20 respondents) and 4.
17 (33 respondents) respectively.
“As a PhD graduate from Cambridge University, I can say that this is the most racist place on earth.
All they want is internal student’s money!” writes user rtert.
Despite the prestigiousness of the institution, there will always be people experiencing the full spectrum of human behavior, good and bad.
As Lambda School is the poster child for online coding bootcamps, the burning heat of the media spotlight holds it to a certain amount of scrutiny.
However, it is worth remembering that the school is a for-profit private institution that does not need to conform to the same kinds of governmental or state regulation that traditional schools are held to.
In fact, in 2014, the Californian Bureau for Private Postsecondary Education sent cease and desist letters to a number of coding bootcamps as they were deemed to be operating without approval in states that have authorization requirements for private education.
Regardless of state authorization requirements, the most worrying aspect of the explosion in online coding bootcamps is that their content is unregulated by an external body, meaning that bad actors or courses of poor quality can sell a dream to students which never comes true.
At worst, students could find themselves out of pocket and out of luck as the market begins to rapidly expand and other bootcamps try to get in on the action.
“False hope and exaggeration is something these camps thrive on,” writes an anonymous source.
“I have become increasingly agitated by articles that completely contradict my own experience and the experiences of my fellow students.
” With many people considering to invest serious amounts of money into these programs, how can they guarantee that it’ll be worthwhile?What does the future of education hold?We cannot argue that coding bootcamps are offering real opportunities to people.
We also cannot argue that websites like Khan Academy and Udemy are having success in designing and delivering online curriculums.
The futurist can ponder whether there is a universal education that is delivered to students worldwide via the Internet, rather than via the physical classroom.
Could we imagine a future where students can learn at their own pace, in self-selected areas of interest, and have software and AI monitor their progress and suggest additional materials and guidance if they are getting stuck?.After all, plenty of technology work is now fully remote.
In his tweet storm, Naval Ravikant, CEO of AngelList paints a compelling picture of technology-based education.
“A generation of autodidacts, educated by the Internet and leveraged by technology, will eventually starve the industrial-education system,” he writes.
“Eventually, the tide of the Internet and rational, self-interested employers will create and accept efficient credentialing… and wash away our obsolete industrial-education system.
” It is a bold view, highlighting the gap between a traditional degree and the skills that an employer wants.
Yet, one could argue that the sole purpose of university is not to push all students into employment, it is just one of the outcomes in a journey of self-discovery, the joyous opportunity to explore a subject deeply, and the ability to mix with a vast cohort of like minded individuals.
Perhaps instead we could see a greater diversity in the institutions in which students are able to get their education.
Coding bootcamps have some parallels to vocational education whereas a university education is more abstract and academic.
Both are valid routes to employment.
Students of all ages needing daily support from teachers, either because of their individual needs or their personal preference, may always have a place in traditional school systems.
However, one could imagine an alternative self-led education system for the autodidact, taught primarily online.
Such education could reach people who may not have access to quality schools in their local area.
Technology could connect with world’s best teachers with the world’s most needing students.
Whether this can begin to replace traditional education at the K-12 level remains to be seen, as school is also implicit childcare for busy and working parents.
But as Ravikant says, “The best teachers are on the Internet.
The best books are on the Internet.
The best peers are on the Internet.
” We should be working on more ways to connect these teachers, books and peers together for the good of society.