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>In return graduates pay us 15% of their income for 2 years if they are earning over $40,000. What if graduates don't get (or decide not to pursue) a coding jo

>In return graduates pay us 15% of their income for 2 years if they are earning over $40,000. What if graduates don't get (or decide not to pursue) a coding job, and instead return to their original or similar field? Do they still need to pay part of their unrelated jobs salary to you?

asd33313131 8y ago
At the moment they pay back regardless of their field. On the one hand, we are giving out cash (not just instruction). On the other, we believe that coding skills can be used in many areas outside of a software development job (business, product, technical sales, data science etc) and that their productivity should go up in general.
- nck4222 8y ago
  So, I get the reasoning, but a realistic and frankly inevitable outcome (not 100% of the people you accept are going to end up with software job, no matter how good you are) is that a person ends up in the same field, with the same salary they had before, but now has to pay 15% of their income for 2 years to Modern Labor. That's a pretty horrendous (and possibly incredibly destructive) outcome for someone looking to improve their outlook, and will definitely give me pause in recommending they apply to the program. It also contradicts your mission: >We believe that money should never be a barrier to learning and that with the right motivation and funding, anyone can learn new skills and make a better life for themselves. At the very least people shouldn't be punished for either not succeeding in finding a job (a failure that could be partially the responsibility of Modern Labor), or simply deciding coding isn't for them.
  - mamurphy 8y ago
    Making the payback at marginal rates (0% for below $40k and 20% for everything above that) would largely fix this issue. If you are making around $40k per year, you have nothing to lose; if the program doesn't improve your state in life at least you don't have to pay too much back. Non-marginal (15% of everything) plus the "you must work for us if we beat offers" theoretically could lead to them offering everyone a $40,001 per year job, essentially forcing them to work that for 2 years and incur high payback costs.

asd33313131 8y ago

At the moment they pay back regardless of their field. On the one hand, we are giving out cash (not just instruction). On the other, we believe that coding skills can be used in many areas outside of a software development job (business, product, technical sales, data science etc) and that their productivity should go up in general.

nck4222 8y ago
So, I get the reasoning, but a realistic and frankly inevitable outcome (not 100% of the people you accept are going to end up with software job, no matter how good you are) is that a person ends up in the same field, with the same salary they had before, but now has to pay 15% of their income for 2 years to Modern Labor. That's a pretty horrendous (and possibly incredibly destructive) outcome for someone looking to improve their outlook, and will definitely give me pause in recommending they apply to the program. It also contradicts your mission: >We believe that money should never be a barrier to learning and that with the right motivation and funding, anyone can learn new skills and make a better life for themselves. At the very least people shouldn't be punished for either not succeeding in finding a job (a failure that could be partially the responsibility of Modern Labor), or simply deciding coding isn't for them.
- mamurphy 8y ago
  Making the payback at marginal rates (0% for below $40k and 20% for everything above that) would largely fix this issue. If you are making around $40k per year, you have nothing to lose; if the program doesn't improve your state in life at least you don't have to pay too much back. Non-marginal (15% of everything) plus the "you must work for us if we beat offers" theoretically could lead to them offering everyone a $40,001 per year job, essentially forcing them to work that for 2 years and incur high payback costs.