Data Science Bootcamp Job Guarantees

Job guarantees are one of the reasons many people are drawn to some bootcamps. It feels no risk.

Can’t get a job? Then you don’t have to pay.

But the reality of these data science bootcamp job guarantees is that most of them aren’t quite as simple as they lead you to believe. It’s not just data science bootcamps - these same job guarantees show up in coding bootcamps, analytics bootcamps, etc. 

Some programs also - or alternatively - offer income share agreements or deferred tuition which let you pay after you’ve finished the program.

Unsurprisingly, while these sound great, they’re not without significant catches.

There are 2 popular ways to market a “no risk” perk for a bootcamp - job guarantees and income share agreements. You may also see deferred tuition options which are something else entirely. 

What is Deferred Tuition?

Deferred tuition means students pay no upfront tuition (or very little), then start paying a set tuition amount once they graduate and find a job. You should expect to see a fixed total tuition cost that you will pay to the school - or a third party loan servicer -  in installments.

For the most part, these aren’t that different from a traditional student loan where you don’t start paying until a certain period of time after graduation.

The biggest issue to be aware of with deferred tuition is how much you’ll end up paying over time with added interest. 

What is an Income Sharing Agreement (ISA)?

As with deferred tuition, income share agreements don’t require payments until after you’re finished with the program. With ISAs, students pay a percentage of their salary to the school for a set period of time.

What is a Bootcamp Job Guarantee?

Job guarantees usually advertise that you’ll get a refund for the bootcamp if you meet certain criteria and don’t find a job. Unlike deferred tuition and income share agreements, most job guarantees require you to pay up front.

The Problem with Bootcamp Job Guarantees

The problem with bootcamp job guarantees is it’s not exactly simple to get your money back if you don’t find a job that makes use of your newly acquired skills.

Many people don’t realize what these job guarantees involve when they sign up for a bootcamp thinking that they’re covered. The information is available, but it’s normally buried on the website and easy for people to miss if they aren’t looking for it.

These boot camps even use the low rate of payout under the job guarantee as a marketing tool.

I’m not calling out specific companies offering bootcamps so I won’t be mentioning any specific brands. I’ll be talking about job guarantees for some popular boot camps though. If you’ve looked at a bootcamp that offers a job guarantee option, there’s a good chance their terms are similar to what I’ll talk about today.

What You NEED to Know about Job Guarantees

There are 2 major pieces of information to consider when it comes to job guarantees.

1. WHO is actually going into these programs. Many very popular programs have a high rate of admission for people already working in data analyst or data science roles, often a high proportion with advanced degrees already. OF COURSE it’s going to be easy for these folks to find jobs after the bootcamp! They already have work experience in the field which simplifies things. 
2. The requirements to qualify and being realistic about how easier these will be for you to stick to.

With that in mind, let’s look at 2 different job guarantee requirements.

Bootcamp Job Guarantee Example #1

You have to complete mandatory requirements for graduation from the program. This includes both the academic requirements as well as passing mock interviews. Beyond this, there is a variety of other criteria to meet.

Guarantee Period

For this first program, the job “Guarantee Period” starts when you enroll in the program and ends 6 months after you complete the program.

There are a few potential extensions solely at the discretion of the program and based on really exceptional local or national employment crises. I was unable to find any mention of an extension during the current global pandemic which met the criteria for extension for multiple reasons so I’m skeptical whether this would ever be applied.

Work Eligibility

You must be eligible to work in the US or Canada - which is where the program is based - and be able to pass any background checks associated with jobs that you apply for.

Education Requirement

Next - you must have a Bachelor’s Degree from an accredited educational institution in any subject by the date you are approved for completing the Career Track.

This isn’t that outrageous of a requirement, but it will rule out some people in the program.

Qualifying Positions

This job guarantee is meant to apply when you don’t get a “qualifying position”. A qualifying position is ANY role in data science or analytics as a 

• an employee working at least 30 hrs a week (onsite or remote)
• a full time (30+ hrs) contractor, INTERN, or other “compensated service provider” relationship for 3 months or longer
• a paid onsite or remote contractor or intern that has the potential to be extended or converted to a full-time role

So already we’re getting into some requirements some people might not expect - like a 3 month temp job meaning you’re not qualified for the job guarantee.

Location

When you approved to complete the program, you’ll need to select a major metro area from an approved list where you’ll focus your job search. Your job search must stick to 1 metro area for the entire time (plus remote jobs).

See map below for eligible metro areas.

Job Search Criteria

1. Each week during the 6 month period, you must apply for a minimum of 4 qualifying positions in the metro area you’ve selected. Remote jobs are also ok as long as all other criteria are met. 
2. You must reach out at least 7 people per week and conduct 2 information interviews per month. “Reaching out” includes emailing, LinkedIn messaging, meetups, and conferences. 
3. You’ll need to schedule and attend calls with a program career coach. You’ll also provide them weekly summaries of your job-related activities including all applications you’ve submitted and what you’ve done for networking. 

Activities which Void the Job Guarantee

1. You miss any weeks or turn down a job offer for a qualifying position. Note: You can apply for a 6 month search suspension, but if you’re offered a qualifying position even during the suspension, you must accept it or miss out on the job guarantee.
2. You accept a job that doesn’t meet the qualifying position criteria or is outside of the data science field/industry.
3. You change your job search strategy which includes changing the metro area for your search. You can ask for an exception to this.
4. You become physically or mentally unable to conduct an effective job search.

If you fail on any of these points, you void the job guarantee. 

Final Thoughts on Job Guarantee #1

These criteria are possible to meet. However, they’re meant to really push you.

Can you keep up with all these requirements?

Is a temp job what you think of when it comes to a job guarantee? 

That’s just one program though. Let’s look at a second program to compare.

Bootcamp Job Guarantee Example #2

Bootcamp #2 offers multiple payment methods, but the guarantee does not apply if you pick an income share agreement - only up front or monthly payments. 

Guarantee Period

The job “Guarantee Period” starts when you enroll in the program and ends 6 months after you complete the program.

There are no extension options mentioned.

Work Eligibility

You must be eligible to work in the US - where the program is based - and be able to pass any background checks associated with jobs that you apply for. 

Education Requirement

You must have a Bachelor’s Degree from an accredited educational institution in any subject by the date you are approved for completing the Career Track.

Qualifying Positions

This job guarantee is meant to apply when you don’t get a “qualifying position”. A qualifying position is ANY role in data science or analytics as a 

• an employee working at least 30 hrs a week
• a full time (30+ hrs) contractor, INTERN, or other “compensated service provider” relationship for 3 months or longer
• a paid contractor or intern that has the potential to be extended or converted to a full-time role

Location

When you approved to complete the program, you’ll need to select a major metro area from an approved list where you’ll focus your job search. You must live within 1 hour of the metro area you select.

Your job search must stick to this same metro area for the entire time.

See map below for eligible metro areas.

Job Search Criteria

1. Each week during the 6 month period, you’re required to apply for a minimum of 10 qualifying positions in the metro area you’ve selected.
2. You’ll need to attend 5 networking events per month.
3. You’ll need to schedule and attend calls with a program career coach. You’ll also provide them weekly summaries of your job-related activities including all applications you’ve submitted and what you’ve done for networking. 

Activities which Void the Job Guarantee

1. You miss any weeks or turn down a job offer for a qualifying position.
2. You accept a job that doesn’t meet the qualifying position criteria or is outside of the data science field/industry.
3. You change your job search strategy which includes changing the metro area for your search.
4. You become physically or mentally unable to conduct an effective job search.

If you fail on any of these points, you void the job guarantee. 

Final Thoughts on Job Guarantee #2

These criteria are possible to meet. However, they’re meant to really push you.

Can you keep up with all these requirements?

Should You Avoid Bootcamps with Job Guarantees?

No, of course not. 

What it does mean is that if you consider a bootcamp with a job guarantee, don’t put much weight into the job guarantee as a key decision factor. They’re well thought out marketing tools that are set up to work in favor of the company offering them.

Really consider how practical all these requirements are for you to keep up with every single week.

And does a 3 month temp job really put you at ease?