27/01/2023
Are you considering a coding bootcamp to switch careers? While the average cost of a coding bootcamp is $2500-$4500 after government subsidies, there are also hidden costs that you might have overlooked. In this blog post, we take a look at three hidden costs that you might face when considering a coding bootcamp: risk costs, monthly living costs, and opportunity costs.
Risk costs: Not everyone who joins the coding bootcamp graduates. In General Assembly, almost 2 out of 10 people who joined do not graduate. This means, you would already spent $2500 - $4500 or even $10 000 (without subsidies) with the result that a coding bootcamp is not for you. For some bootcamps, they would do partial subsidies in this case.
Monthly Living Costs: Going through a coding bootcamp is a very stressful experience. However, many students also faced another stressful topic: money. When going through a full time coding bootcamp, most students quit their job or take non-paid leave to focus on learning. This means you would not have income. Therefore, having savings can remove the money stressor. However, how much of savings is enough?
Opportunity costs: Opportunity costs means how much you lose or earn when deciding to do something else. For example, continue working in your job vs quitting your job to becoming a software developer, through a coding bootcamp.
In conclusion, the three hidden costs are risks costs, monthly expenses costs and opportunity costs. Therefore, here are some ways to help you with the costs:
Join an introductory course to reduce risks costs
Do part time work during the coding bootcamp for extra cash
After the coding bootcamp, apply for tech internships also
To read more about these hidden costs and how to prepare for them, check out our full blog post on https://www.learnatnext.com/blog/is-coding-bootcamp-worth-investment.
