Attending a coding bootcamp can be a life-changing experience for those looking to break into the lucrative and ever-growing field of software development. These intensive programs offer a concentrated, hands-on approach to learning the skills necessary to become a proficient programmer. Sometimes, in a matter of months, students can acquire the knowledge and expertise to land entry-level or even mid-level positions at tech companies. The curriculum typically covers a wide range of frameworks and tools, enabling graduates to hit the ground running and meaningfully contribute to software development teams.

However, the decision to enroll in a coding bootcamp is not without its challenges. One of the primary concerns for many prospective students is the financial aspect. Bootcamps can be expensive, and the upfront cost can be a significant barrier for those with limited financial resources. Additionally, the accelerated pace of the program can be demanding, requiring a high level of commitment and almost certainly leaving one’s current job. It’s important for individuals to carefully consider their financial situation and personal readiness before making the leap into a coding bootcamp. To help prospective students weigh out their financial situations and the impact of attending a coding bootcamp, we’ve created the Coding Bootcamp Break-Even Calculator.

Coding Bootcamp Break-Even Calculator

Duration

Bootcamp Duration (weeks):

Typically 12–24 weeks

Job Search Duration (months):

Interviewing takes time

Expenses

Bootcamp Tuition ($):

Typically $8,000–$22,000

Equipment Costs ($):

Laptop, internet, or other required equipment

Student Loan Amount ($):

Portion of tuition financed

Student Loan Interest Rate (%):

Interest rate on your student loans

Student Loan Term (months):

Length of time for loan repayment

Housing Costs ($, monthly):

Monthly rent or mortgage expenses

Food, Transportation, & All Other Expenses ($, monthly):

Your monthly expenses may change, so plan accordingly

Current Income ($, annual):

The opportunity cost of not working during school

Current Effective Income Tax Rate (%):

Federal & state taxes paid divided by total income

Future Income

Tech Job Income ($, annual):

Income varies widely by location, job title, and more

Tech Job Effective Income Tax Rate (%):

Federal & state taxes paid divided by total income

Break-Even Time

This the approximate time it will take for your coding bootcamp education to break even considering your post-tax income before and after your education. Note, this calculation doesn’t account for other benefits of a software career such as equity, flexible work location and schedule, and work-life balance improvements.

Calculate

Your coding bootcamp education will break even after:

Break-Even Calculator Definitions

Bootcamp Duration

The duration of a coding bootcamp typically ranges from 12 to 24 weeks. However, this only reflects the core program’s time commitment. There are often pre-course requirements, interviews, and tests, as well as checkpoints, just to be accepted. Some bootcamps are longer, potentially offering more in-depth learning but also delaying entry into the workforce. The course length is a crucial factor in calculating the “break-even” period, as it directly impacts when you can start earning income from a new tech job.

Job Search Duration

The job search duration, or the time spent interviewing and securing a job post-bootcamp, is a significant factor. It can vary widely due to market conditions, individual skills, networking efforts, and economic factors. A prolonged job search delays the start of higher earnings, impacting the time it takes to recoup the bootcamp investment. Anticipating this duration helps set realistic expectations for when you might begin seeing a return on your education investment.

Bootcamp Tuition

Bootcamp tuition is the primary upfront cost of attending a coding bootcamp, typically ranging from $8,000 to $22,000. Some coding bootcamps charge higher tuitions but may also offer enhanced curricula, career support, and overall outcomes. Tuition costs can be a significant factor in choosing a coding bootcamp, but financing options, such as student loans or income share agreements, can help alleviate this burden.

Equipment Costs

Attending a coding bootcamp, especially an online program, requires specific essential items like a laptop and a reliable high-speed internet connection. These costs can vary and should be factored into the total expenses. While some may already have these resources, others may need to invest in them. Accounting for these upfront costs can influence the break-even timeline and should be carefully considered.

Student Loans

When financing a portion of bootcamp tuition with a student loan, consider the loan amount, interest rate, and loan term. These factors determine the total repayment cost, including accrued interest. Understanding these factors helps assess the true cost of borrowing and its impact on the long-term financial benefits of attending a bootcamp. The loan term, or the repayment period, affects monthly payments and the total amount paid. Longer terms reduce monthly payments but increase total interest, potentially affecting the net financial gain. Balancing loan terms with expected future income is crucial for calculating when you’ll break even and start benefiting financially from your bootcamp investment.

Housing Costs

Housing costs, such as rent or mortgage payments, represent a significant ongoing expense during the bootcamp and job search periods. Coding bootcamps, even part-time programs, require significant time investment, making it challenging to succeed while working a full-time job. These costs also accrue during the job search period post-bootcamp. They are important to consider because they affect how much savings you need to cover living expenses during periods of lower or no income.

Food, Transportation, and All Other Expenses

These are additional monthly expenses to be covered during the bootcamp and job search. Lifestyle changes and financial sacrifices are often necessary due to reduced incomes. On the other hand, coding bootcamps can be intensive, which leads to reduced budgets for entertainment, restaurants, and other non-essential items. Accounting for these expenses ensures a realistic understanding of the total costs before earning your new tech salary.

Lost Income

There is an opportunity cost of not working during while attending a coding bootcamp, especially if you would have been earning an income otherwise. This is a critical factor because it directly impacts the total financial loss during the period of education and job search. Often overlooked due to its intangible nature, lost income needs to be accounted for in the break-even analysis, as it represents a significant portion of the overall cost of investing in a bootcamp.

Future Tech-Job Income

One of the primary factors for attending a coding bootcamp is the potential income. While the tech industry offers very high-paying roles, having a realistic picture of your future income is essential for accurate break-even calculations. A higher post-bootcamp income generally means a shorter break-even period, but estimating future income realistically, based on industry standards and job market conditions, is crucial for determining the financial viability of attending a coding bootcamp.

Effective Tax Rates

When calculating the break-even point, it’s essential to use post-tax income, as tuition and other expenses are paid with after-tax funds. Taxes can be complex and progressive, so using an effective tax rate simplifies the calculations. There are many online calculators to estimate effective tax rates for different incomes, but a simple calculation involves dividing the total income taxes paid last year by the total pre-tax income.