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Lambda School (YC S17) now pays eligible students $2k/month

lambdaschool.com

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Re: Lambda School (YC S17) now pays eligible students $2k/month

#71

Post by austenallred »

throwawaymath wrote: post #69
austenallred wrote: post #65

Earlier quoted context omitted.

He was a recent college dropout and bodybuilder, but yeah it’s not an absolutely absurd result.

I have to be honest, it sounds absolutely absurd. What kind of definition must a company be using for "senior" if they're willing to hire someone into that title with no prior professional experience? It's almost certainly title inflation. Note this is not a comment about the quality of Lambda School. I've heard good things about it. But it's almost tautological that someone shouldn't be eligible for a "senior softwa…

That company has hired 20+ Lambda School grads, two hired as senior.

Re: Lambda School (YC S17) now pays eligible students $2k/month

#72

Post by sunjieming »

onlyrealcuzzo wrote: post #36
incompatible wrote: post #24

Earlier quoted context omitted.

I suppose the contract obliges them to look for / accept a job after graduating? I mean, I'd be happy to take money to study for a while, but I wouldn't look for a job afterwards.

I hate to break it to you, but I don't think many people can afford to live without a paying job, and if they can, I doubt they're willing to exchange their time for $2k a month. I don't think people not looking for a job is a problem you need to heavily consider. Especially if there's a selection process for admission -- which the founder says there is.

We also have a part-time program that's for people who need to keep their 9-5 job while going to school.

Re: Lambda School (YC S17) now pays eligible students $2k/month

#73

Post by cm2012 »

vikp wrote: post #44
austenallred wrote: post #37

Earlier quoted context omitted.

> then the risk to Lambda School is practically zero If only! We only get paid if a student is making $50k/yr or more and the agreement is time-bound (10 yrs). A student may teach those levels of salary without our involvement, but when our possible downside is $18k + the cost of training and our potential upside is somewhere between $0 and $50k any level of default or non-hiring destroys returns immediately.

If you're only getting repaid when someone is employed and making over 50k, which seems to be the case from your website ("Upon completion of the program, students will pay 10% of their [pre-tax] salary for a five year period once they're making at least $50,000 per year"), then the "repayment floor" for Lambda school is 25k (with probably a close-to-50k "repayment average"). I'm assuming that if someone loses a job,…

This is laughable. As they scale, they will get 10-20% deadbeats that avoid paying, minimum.

Re: Lambda School (YC S17) now pays eligible students $2k/month

#75

Post by jasonsbarr »

hkdobrev wrote: post #23

While this program could be useful to many students, it's a loan program. > Upon completion of the program, students will pay 10% of their salary for a five year period once they're making at least $50,000 per year. The max possible payment is capped at $50,000.

10% of a $50k net salary is far less than my student loan payments would be out of that same net salary.

Re: Lambda School (YC S17) now pays eligible students $2k/month

#76

Post by throwawaymath »

austenallred wrote: post #71
throwawaymath wrote: post #69

Earlier quoted context omitted.

I have to be honest, it sounds absolutely absurd. What kind of definition must a company be using for "senior" if they're willing to hire someone into that title with no prior professional experience? It's almost certainly title inflation. Note this is not a comment about the quality of Lambda School. I've heard good things about it. But it's almost tautological that someone shouldn't be eligible for a "senior softwa…

That company has hired 20+ Lambda School grads, two hired as senior.

I believe you. But there is also significant title inflation at that specific company. There is no reasonable definition for "senior software engineer" which has qualifications that can be met from scratch in nine months. What are their "junior" engineers like? Do they have a title between junior and senior?

Like I said, this isn't a comment on the Lambda School. It's a comment on the idea that this occurrence isn't absurd, regardless of whether or not it's rare.

Re: Lambda School (YC S17) now pays eligible students $2k/month

#79

Post by austenallred »

throwawaymath wrote: post #76
austenallred wrote: post #71

Earlier quoted context omitted.

That company has hired 20+ Lambda School grads, two hired as senior.

I believe you. But there is also significant title inflation at that specific company. There is no reasonable definition for "senior software engineer" which has qualifications that can be met from scratch in nine months. What are their "junior" engineers like? Do they have a title between junior and senior? Like I said, this isn't a comment on the Lambda School. It's a comment on the idea that this occurrence isn't…

Ya I don’t disagree that there’s title inflation, but yes they do in this instance differentiate.
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