Coding Bootcamps: What Employers Need to Know
Some MSPs and IT service providers are building out or acquiring application development teams. The big question: Where can those MSPs find today’s job candidates and tomorrow’s programmers?
One potential answer involves coding bootcamps — which remain a popular alternative and/or supplement to traditional college and university degrees.
To shed more light on coding bootcamp trends and outcomes, Career Karma recently published a study that analyzed over 130,000 coding bootcamp graduates and their outcomes.
The report was reviewed in “collaboration with the CIRR, Bill & Melinda Gates Foundation, Ryan Craig from University Ventures, Opportunity@Work and other figures in the space,” Career Karma says. Still, ChannelE2E doesn’t know just how deeply those third-party organizations were involved in the research effort.
Coding Bootcamp Research: Key Findings and Data Points
According to Career Karma, here are nine findings from the report.
1. Market size. In 2019, 33,959 students attended one of the 105 coding bootcamps studied in this market analysis, representing a 4.38% growth since 2018. In 2020, we expect the bootcamp sector to grow to an estimated 35,446 students.
2. Revenue. Tuition revenue in 2019 was approximately $460,733,000, a 4.81% increase from $439,581,000 in 2018.
3. Bootcamp costs and financing. The average in-person bootcamp cost $13,293 in the US in 2019. The most expensive full-time programs charged over $20,000 in tuition.
4. Online bootcamps. In 2019, 6,995 students graduated from an online coding bootcamp, a 31.44% increase since 2018. The average tuition for these courses was $14,623.
5. Income Share Agreements (ISAs). In 2019, 27 US bootcamps offered ISAs to their students. The average terms were a 38 month term (length), $42,476 minimum income threshold, 13.8% income-share percentage, and a $32,754 payment cap.
6. Bootcamp graduate locations. The top five metropolitan areas in 2019 in terms of how many bootcamp grads are employed in each city were New York City (46 bootcamps), San Francisco (33 bootcamps), Los Angeles (21 bootcamps), Seattle (18 bootcamps), and Washington, D.C. (16 bootcamps).
7. Top employers. The five top companies who have hired the most bootcamp graduates as of 2019 were Google, Microsoft, Amazon, Facebook, and JPMorgan Chase & Co.
8. Largest bootcamps. The 10 largest bootcamps in terms of the total size of their student body in 2019 were General Assembly, Hack Reactor/Galvanize, Flatiron School, Ironhack, Bloc, Lambda School, App Academy, Springboard, Thinkful, and Fullstack Academy.
9. Largest acquisitions. The top three acquisitions in the bootcamp sector in 2019 were 2U’s acquisition of Trilogy Education Services ($750 million), Chegg’s acquisition of Thinkful ($80 million+), and Bridgepoint Education’s acquisition of Fullstack Academy ($17.5 million + 2.5 million shares).
Next Steps: If you’ve hired coding bootcamp graduates and want to describe the business outcomes, feel free to email me (Joe@AfterNines.com).