Wondering if you’ll be able to get a data analyst job after completing a Data Analytics Bootcamp? Read our study of market and graduate income data; signs point to Yes.
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Data Analytics is quickly becoming a generally applicable skill. You can apply it in every industry or job function – marketing, finance, sales, accounting, technology, manufacturing – you name it!
It’s often difficult to get a job in the field you want without previous experience. It’s even more difficult to switch career paths, or start a job in a new industry altogether. The biggest question is: “How do I get the skills I need to find the job I want, while still making money to live?”
An associates, bachelors, or graduate degree may be too costly, or take too much time. That’s why a new, alternative form of skills-based, job-specific education has been on the rise: Bootcamps.
Brief, cost effective, and geared toward preparing you to hit the ground running in a new job, bootcamps seem to offer a fast track to scoring that new position. But do they really work?
Will a Data Analytics Bootcamp actually get me a job? Our new study says there’s a strong indication the answer is “yes”.
Naturally, employment and income is not a guarantee anywhere but bootcamps are becoming one of the more popular ways to break into data analytics, expand one’s skill set to land senior data analyst jobs, or begin the path toward becoming a data scientist.
In our previous post, we identified the Top 2 Skills You Need to Become a Data Analyst. In this article, we summarize the unique data gathered by MentorWorks Education Capital, an education and career access company, about outcomes of certain data analytics bootcamps.
What is a Data Analytics Bootcamp?
Data analytics bootcamps train students with programming and analysis skills to study data and draw inferences – reasoned conclusions – to support decision-making in business and policy. These programs usually take months compared to a year or more for a traditional degree, and are heavily focused on skill-building data analytics.
Let’s take Northeastern University’s Career Accelerator Studio in Data Analytics as an example:
- The full-time program is 12-weeks, with part-time extending the program up to 25 weeks.
- The full-time program requires 6 hours of program time per day split into 3 hours of instruction by a live instructor and then 3 hours of assignments.
- The part-time program requires you to commit at least 12 hours per week, and can be completed in 25 weeks.
The modules you take are as follows:
- Introduction to Coding
- Math and Statistics
- Business Logic and Ethics
- Introduction to Analytics
- Intermediate Data Analytics
The program then concludes with a project that tests your skills as a data analyst based on a real-world, business challenge. real-world project using actual business challenges and data meant to tie it all together. You also earn badges and micro-credentials for Python, AWS, Salesforce, and Tableau – which are skills widely sought out by employers.
Below, we provide some outcomes data that we have observed for data analytics bootcamps. This data is gathered from specific programs that MentorWorks has supported in the past. Results can vary program to program, which is why you should do your research. Outcomes from other programs may vary based on their quality, but this data can be useful as you consider whether to utilize this education model.
How many Bootcamp graduates got Data Analytics jobs?
Average placement rate: 100%
This number excludes people that had jobs while they were in the bootcamp. This number, as described above, can vary by the quality of the bootcamp, but is indicative of potential outcomes for data analytics bootcamp graduates.
How long does it take to get a job after graduating from a Bootcamp?
Average time: 4.5 months.
Time to get a job is dependent on both the quality of the education and how prepared students are to apply to jobs and face interviews.
How much did those Bootcamp graduates get paid?
Current income of bootcamp graduates is $72,000, right on par with Glassdoor’s average salary for data analysts in the US (as of March 2022).
The average income trend for graduates also shows a steady increase.
How much do Bootcamps cost?
Let’s use Northeastern’s Data Analytics Certificate Program again: total cost is $17,000.
Other bootcamps, typically not affiliated with a top-ranking graduate business school, can cost between $15,000 to $25,000 – and some take up to 6 months. University degree programs can run anywhere between $25,000 to $75,000 per year for two to four years.
Most bootcamps can be funded by a fixed obligation loan (a standard loan), but students can also often fund their bootcamps with Income Share Agreement (ISAs).^ Visit this link to find out more about ISAs and how they compare to a standard loan.
^ Income Share Agreements (ISAs) are a flexible alternative to traditional fixed payment installment loans. Basically, students pay a percentage of their future income for a set period of time, up to a maximum cap, without accruing interest. Unlike a loan, students do not pay until they find a job and reach the minimum income threshold. The payments adjust according to the level of the student’s income – providing downside protections for the student. MentorWorks’ ISAs may be issued by Blue Ridge Bank, N.A.