In this era of rapidly evolving technology, coding skills have become increasingly crucial across various industries. A coding bootcamp, often viewed as a more cost-effective and time-efficient alternative to a traditional four-year degree, has emerged as an appealing pathway to enhance one’s skills. This blog post aims to discuss the return on investment for a coding bootcamp, highlighting its potential for higher income and better job prospects.
The Cost of a Coding Bootcamp vs a Four-Year Degree
Attending a coding bootcamp is usually less expensive than a traditional four-year degree. The average cost of a bootcamp is around $13,000, a fraction of the cost of a bachelor’s degree, which can easily exceed $100,000. Furthermore, coding bootcamps are typically completed in three to six months, allowing participants to enter the job market much quicker than those who opt for a degree.
Income Potential After a Coding Bootcamp
Graduates of coding bootcamps often see immediate increases in their income potential. According to Course Report, the average salary of a bootcamp graduate is $70,698. This is a significant increase, especially for those shifting from non-tech fields. With experience and continuous learning, this figure can rise substantially, offering a promising return on investment.
Job Prospects After a Coding Bootcamp
In addition to higher income potential, coding bootcamp graduates also enjoy improved job prospects. With a growing demand for skilled coders, companies are more willing to hire bootcamp graduates, acknowledging the practical, hands-on skills they acquire. Tech giants like Google, Microsoft, and Apple, have all hired coding bootcamp graduates, demonstrating the industry’s recognition of these programs.
The Return on Investment for a Coding Bootcamp
To make this a bit more tangible, we’ve embedded a Return on Investment (ROI) calculator below. In order to keep it simple, we’re only taking the tuition cost for a bootcamp into account when calculating, but you should also consider the cost for other expenses like computer equipment and living expenses for a 3-6 month period, which will vary widely depending on the individual.
You can play around with the numbers here. For ROI, a higher percentage is better.
The main point of understanding your ROI is to shift perspectives. Since the upfront cost of attending a bootcamp or going to college can seem high, it’s helpful to zoom out and see a bigger picture. Like with any investment, we have to understand what we gain long term in order to manage risks and fears associated with it.
The return on investment for a coding bootcamp is quite impressive when considering the cost, income potential, and job prospects it offers. While it requires a commitment of time and money, the payoff seems to be worthwhile. Whether you’re a recent high school graduate, a professional seeking career advancement, or someone looking to transition into the tech industry, a coding bootcamp could be a wise investment towards a promising future.