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Income Share Agreements: Turning Superstar Coders into Successful Developers

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Income Share Agreements: Turning Superstar Coders into Successful Developers

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When initially launched in April 2019, the payment cap of an Income Share Agreement at HackerYou was $30,000. We're happy to share that this cap has been decreased to $18,000 as of June 20, 2019. As more schools across North America begin offering ISAs, we're seeing some common standards emerge, and as the first school in Canada to offer this program, we're excited to help align and establish those standards. One standard is that the payment cap of an ISA is typically 1.5x the upfront tuition. For this reason, we've decreased our payment cap accordingly, meaning with an upfront tuition of $12,000, no graduate will ever pay more than $18,000 for their Bootcamp education. This change not only makes our ISA program more aligned with industry standards, but makes the program more accessible to super-star Bootcamp candidates.

Today we’re excited to announce that HackerYou has become the first school in Canada to offer Income Share Agreements for our Web Development Immersive Bootcamp. This is a revolutionary new way for our students to turn their tech skills into an in-demand career.

WIth ISAs, rather than requiring $12,000 in tuition upfront, you now have the option to get started for just a loonie. You’ll pay a percentage of your income after you’re hired, but only once you’re making at least $50,000 per year.

We understand that investing in education is scary - especially when that education is a $12,000, nine-week, full-time program like ours. What if I can’t afford the tuition? What if I can’t find a job after graduation? What if I don’t get the salary I want? What if my risk doesn’t pay off? Plus, so many of us have already been burned by post-secondary education. We signed up for degree and diploma programs at great schools, only to graduate years later saddled with debt and few job prospects in sight.

Our Income Share Agreements are designed not only to take the risk out of your career change, but also to make careers in technology - some of the best jobs out there - accessible to more coders. If you’ve got the coding skills required to be accepted into our Bootcamp, and you’re serious about making a career transition, we want you at HackerYou - regardless of your current financial circumstances. And, if you don’t have the coding skills you need, starting out in our part-time Web Development course is an excellent option that many of our Bootcampers take.

After five years of running our Bootcamp program, we know there is no ‘one thing’ that makes someone a great developer. Our graduates are from a variety of backgrounds and walks of life, but they all have one thing in common - they're talented coders ready to work hard to make a change. We’re proud to help them launch their new career and bring their diverse experiences to Canada’s booming technology sector.

Income Share Agreements at HackerYou are simple - it’s a loonie up front, and then you pay 17% of your income once you’re making at least $50,000.

After Bootcamp, If you don’t find a job or don’t make a high enough salary, you don’t have to pay us back. Instead of you taking the risk, we’re flipping it around: we’re the ones taking the risk. We’re confident because we’ve been running our Bootcamp program for over five years. We know that people like you are worth investing in.

To illustrate how our Income Share Agreements work, let’s say you graduate from HackerYou and land a job making $50,000 a year right away. Up until that point, you’ve paid us a loonie. Now that you’re earning more than $50,000, you’ll pay us 17% of your gross monthly income each month for 24 months, which works out to $708.33 per month. The total you’ll pay back by the end of two years is $16,999.92, just $4999.92 more than those who chose to pay our $12,000 tuition up front.

And what if you were to land a job after HackerYou making even more than that? Our salary cap is $18,000 - so that is the most you’ll ever pay.

Income Share Agreements help make our Bootcamp accessible to the kind of superstar coders we want at HackerYou.

The best part is that Income Share Agreements perfectly align incentives - when you win, we win. They create an incentive for us to make our program better every year, and it’ll only cost you more if you land a higher salary. We’re tired of hearing about young people who signed up for university, took on student loans, gave it their all for four years, only to find out that no jobs await them - and that their university wasn’t interested in helping them find their footing. We’re different. We’re here to help you. And we want the best coders to make a career transition at HackerYou - regardless of their financial circumstances.

Interested in moving forward? First, ensure that you have the HTML and CSS knowledge required to be accepted into Bootcamp. If you’re new to coding or aren’t familiar with things like best practices or responsive design, starting out in our part-time Web Development course to gain the knowledge you need is a great option. Then, when you complete your Bootcamp application, simply select that you are interested in an Income Share Agreement. If you’re admitted to our Bootcamp, you’ll join 39 other students all hungry to change their lives, some who have chosen to pay tuition upfront, and some who are also on Income Share Agreements, though you won't know who's who.

Once you’ve graduated and start earning at least $50,000, we take 17% percent of your gross monthly salary for two years. After that, you’ll be paid off, have a great job, and be earning a nice salary, with a promising future ahead of you. Plus, you’ll know what all of us in the HackerYou community have known all along - changing your career with HackerYou is a no-brainer, now more than ever!

Interested in finding out more about our Income Share Agreements? Find out everything you need to know by clicking below.

Learn More About ISAs

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