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Most of our students are in rural areas where $50k is actually really good money (though this is changing). There’s not really an existing legal framework to sa

Most of our students are in rural areas where $50k is actually really good money (though this is changing). There’s not really an existing legal framework to say “if you make x in this kind of city or y in this kind of city.” Certainly, in San Francisco, $50k isn’t a win. Luckily our median salary there is well into the six figures. Lambda School’s income share agreement is also (to my knowledge) the only in the industry that is industry-specific. If you end up as a bartender making $60k we make $0. Most 3 month schools are 15% for 3 yrs with a $40k min. Lambda School is 9 months, 17% for 2 yrs with a $50k min and a cap. So our agreement is actually very aggressive as is, and will become more aggressive over time.

nickpsecurity 7y ago
Consider using a base amount modified by cost of living, esp locational, with a formula that adapts when it changes. Buffer does this for their transparent salary calculations: https://open.buffer.com/transparent-salaries/ https://open.buffer.com/transparent-salaries/ Btw, love what you're doing. It might have helped me back when I was in a rural area. We didn't have Internet, though. So, would've been whatever I could do at libraries during narrow windows of computer use. These days it's McDonalds' Wifi for lots of folks. Do factor that into your offerings somehow if you don't already. Good luck LS! Looks like awesome stuff you all are doing.
- JeremyBanks 7y ago
  Employees shouldn't be rewarded for moving to the most expensive cities. Buffer et al should pay whatever they're willing to pay, and if some of their employees want to waste it on rent, so be it.
mbesto 7y ago
> that is industry-specific Don't you mean role/responsibilities specific? What happens if one of your students takes a web app developer role at, let's say, an auto parts manufacturer?
- austenallred 7y ago
  Then yes, we’d say they’re still working in the “software” industry
  - subway 7y ago
    Neat way to redefine "industry"...
    - austenallred 7y ago
      Sure, there might be a different word than "industry" that describes it better

nickpsecurity 7y ago

Consider using a base amount modified by cost of living, esp locational, with a formula that adapts when it changes. Buffer does this for their transparent salary calculations: https://open.buffer.com/transparent-salaries/ https://open.buffer.com/transparent-salaries/ Btw, love what you're doing. It might have helped me back when I was in a rural area. We didn't have Internet, though. So, would've been whatever I could do at libraries during narrow windows of computer use. These days it's McDonalds' Wifi for lots of folks. Do factor that into your offerings somehow if you don't already. Good luck LS! Looks like awesome stuff you all are doing.

JeremyBanks 7y ago
Employees shouldn't be rewarded for moving to the most expensive cities. Buffer et al should pay whatever they're willing to pay, and if some of their employees want to waste it on rent, so be it.

mbesto 7y ago

> that is industry-specific Don't you mean role/responsibilities specific? What happens if one of your students takes a web app developer role at, let's say, an auto parts manufacturer?

austenallred 7y ago
Then yes, we’d say they’re still working in the “software” industry
- subway 7y ago
  Neat way to redefine "industry"...
  - austenallred 7y ago
    Sure, there might be a different word than "industry" that describes it better