> The firm devotes about a third of its time and resources to finding jobs for its graduates, an unusually high share. Another third goes to recruiting students and the rest to teaching.
So, 2/3 of what they're paid (presumably after Austen Allred's and the VCs' take), is marketing, leaving the leftovers to pay for actual instructors. If I end up in the hospital, I want a nurse with an actual education, not "nursing boot camp."
That’s actually not how it breaks down, I told the reporter I segment the company into three sections in my mind, he asked which is more important, and I said they all have to work.
Then the reporter seriously misled me about what you said, and I apologize. I'm curious about the real breakdown between marketing to students and hospitals, overhead and executive pay, and instructor pay, but I can understand if you don't want to reveal that.
Right now our marketing budget rounds to zero. We have a growth team that is mostly focused on making sure the admissions funnel runs smoothly, and get about 1,000 organic applications/week.
We have ~80 full-time employees and about 200 part-time. 40 of the full-time and all 200 part-time are dedicated to teaching/career coaching.
> We have ~80 full-time employees and about 200 part-time. 40 of the full-time and all 200 part-time are dedicated to teaching/career coaching.
What does this mean? I was interested in a breakdown between "people who teach students" and "people who sell stuff," and I don't see how "marketing" and "growth team" differ. As far as I can tell, you're saying that you hired 40 coders, 200 temps as teachers, and 40 salespeople to pitch them to employers ("career coaching").
I don't think anyone misled anyone, it's a question of "focus/improtance" vs "costs," which are two different things. We have to do them all well, and will be building out different teams with equal focus, but right now most of our expenses go to instructors.
So, 2/3 of what they're paid (presumably after Austen Allred's and the VCs' take), is marketing, leaving the leftovers to pay for actual instructors. If I end up in the hospital, I want a nurse with an actual education, not "nursing boot camp."