'The Problem with Education is a Problem of Incentives' problemwitheducation onlineeducation
10% commission for the first 10 sales, then no commission
Based on historical data, the accounting department at “Auto Parts Unlimited” was able to show that if a salesperson made thenumber of sales, 20 sales each month, then all of these compensation packages would end up paying them the same $100k yearly.
If you want to dig up the dramatic history about Lambda School I’ll let you do that, I don’t want to get into the nitty-gritty of he said/she said. Instead, I’ll give you my summary based on the digging I’ve done. I’ve found that most of the more viral complaints boil down to two simple gripes.Some students consider it to beexpensive. Most students end up paying somewhere between $20,000 or $40,000 dollars for the ~6-month program.
If I had to guess about the cause of these problems, I’d say it’s likely that margins ended up being tighter than anticipated, and the bets they made on their student’s placement rates ended up being worse than anticipated. Lambda pays for each student’s education upfront,that student gets a job. If any poor performers are sucking up resources without landing jobs, Lambda is footing the bill.
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