She said she’s working between 30 and 40 hours per week on a full-stack curriculum learning front and back end development, and manages a couple of hours of free time in between coding sessions. She’s switching careers-from performing, acting, and singing in Los Angeles to the tech sector-and didn’t feel ready to jump into a job right after graduating her last bootcamp, she told me.Īngotti, who runs a blog about her technology career journey and answers questions about Modern Labor on a YouTube channel (she said she’s not working for them in any official capacity or as a recruiter), told me that when we spoke she’d been coding for the last 17 days without a day off-even if some of those days she only worked a few hours at a time. One of those students, 33-year-old Courtney Angotti, told me in a phone conversation that she decided to join after participating in another bootcamp last year called Code Talk. Modern Labor’s first cohort began in February, and consists of two men and one woman. You might get the right skills and it was worth it, or you might not.” “It’s expensive and there is an uncertain payoff. “It turns out that education is one of the biggest investments people make in their lives, and it’s risky,” Francis Larson, who co-founded Modern Labor with Oliver Birch in 2017, told me in an email. “We’ve been pushed into this world where we’re asking people to make these really complex calculations about future income and payoff and that just doesn’t seem like it’s the world we ought to be living in,” she said.Īs its first cohort-a modest three-person class-enters its third month at Modern Labor, the company is grappling with how best to weigh those risks and graduate a class prepared to enter the tech workforce. Burdened with student loan debt from traditional schools that did little to prepare them for the workforce, they’re seeking ways to hedge their bets on career choices and schools that will provide a safe return on what is a high-stakes financial investment in America. In January, student loan expert and former Elizabeth Warren advisor Julie Margetta Morgan told VICE that these programs speak to the post-recession hell that young people face. Modern Labor is backed by tech accelerator Y Combinator, according to its website, and launched at YC Demo Day earlier this month. Similar to Modern Labor, Purdue University and the startup Lambda School are two entities that are experimenting with income sharing agreements. (In 2016, Larson founded Leif, a software startup that helps schools design ISA programs.) Critics of ISAs call them “ a form of indentured servitude” because graduates are obligated to hand over part of their earnings for years. Modern Labor’s business model is an example of an “income sharing agreement,” a scheme that’s on-trend for Wall Street and Silicon Valley entrepreneurs looking to disrupt education. A typical coding bootcamp can cost around $11,000 for two to seven month courses, with some charging as much as $20,000.
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