For Working Professionals
25% hike or 6 LPA whichever is maximum
|Option 1: Income Share Agreement (ISA)||Option 2: Extra Money Back Agreement (EMA)|
|₹ 3,00,000/-||₹ 1,60,000/-|
|When to pay?|
|Within 30 months of landing a job with easy EMI options||Within 8 months of joining the program with easy EMI options|
|What happens when you fail to land a job with AlmaBetter Minimum Guarantees?|
|No Tuition Fee||Tuition fee refundable with 10% interest|
What is an ISA?
ISA is the Income Share Agreement. ISA fundamentally means that you share a part of your income as the program fee i.e. you pay the program fee, once you start earning as a result of the skills you learn in the program.
How does ISA work at AlmaBetter?
According to our ISA, you will pay the tuition fee in monthly payments of INR 10,000 for 30 months once you get a job earning at least 6 LPA or get a hike of at least 25%. ISA is a legally binding contract which ensures that all the parties involved in the contract follow all the rules and regulations. It has information, terms & conditions related to your Training, Placement & Income Sharing. ISA is signed by you, AlmaBetter and your confirming party (guardian).
Can I see a copy of the ISA?
Yes, of course. As you go through our admission process, you will be counseled on various aspects of the ISA and a copy of the same will be made available to you at the end.
Does the ISA amount include taxes?
Yes, it is inclusive of all taxes.
When do I have to start paying as per the ISA?
You will start paying from the time you get your first salary after you join a company paying you 6 LPA (for freshers) /25% hike (for working professionals) or more.
How will you verify my income?
As per the ISA, you will be legally bound to furnish all the documents relevant to your income such as Offer Letter, Salary Slips, Income Tax Returns, Bank Statements etc.
Will I have to pay if I quit the job or get fired?
Yes. You will have to keep paying. Our value proposition is to train you and help you to get a job in the Data Science domain. At the same time, while doing that, we make sure not to force you to join any particular company. At the end of the day the company you join is based on the company’s and your mutual choice. After that you will have to use your skills to grow in your career. However, if you do get fired, being an AlmaBetter alumnus, we will try connecting you with our hiring partners for other jobs.
Will I have to pay if I change my job?
Yes. You will have to keep paying.
How will the ISA work if I drop before the completion of the program?
We ideally want each of our registered students to succeed. Hence once a batch starts we hate to see anyone leave mid-way. However, we do understand that sometimes circumstances might force you to seek a drop off in the middle of the LER program. To provide you a comfortable exit in this case we have a drop out policy. The details of the drop out policy are also mentioned in the ISA. It allows for an easy drop out till 1 month into the LER program. In this case, your ISA will stand null & void and you would not have to pay any additional fee. After 1 month, if you drop out, then there is a drop-out fee depending on the time you drop out at.
Will I have to pay if I get a job earning less than 6 LPA?
No, you don’t have to pay in that case. However, at the same time, as per the ISA, you are not allowed to take up any job paying less than 6 LPA, in the 6 month period following program completion. You can only do this after taking explicit written permission from AlmaBetter.
Will I have to pay if I get a job with less than 25% hike on my current CTC?
No, you don’t have to pay in that case. However, at the same time, as per the ISA, you are not allowed to take up any job paying less than 25% hike, in the 6 month period following program completion. You can only do this after taking explicit written permission from AlmaBetter.
For how long do I need to pay the EMIs?
We provide flexible EMI options: i) 24 months - INR 10000 per month ii) 12 months - 5% discount iii) 6 months - 10% discount
Can I pay all the ISA payments at once?
Yes, you will have the option to pay in full, directly to AlmaBetter at 20% discount.
What will happen if I do not pay any EMI?
If your payment collection is happening through AlmaBetter assigned NBFC, missing your EMIs will affect your credit score negatively thus making it harder for you to get any loan in future. The NBFC assigned to you, will also most likely take legal recourse to get back their loan amount. If you are paying directly to AlmaBetter, there will be a late fee of INR 100 per day. While we will hate to, but we will have to execute your ISA Breach Recovery Cheques and take legal action if your EMI gets delayed by more than 30 days.
What is EMA?
EMA is a legal agreement serving as an assurance mechanism for students who are paying tuition fees upfront. The basic premise of having this agreement in place is to make your investments safe and at the same time to ensure we do our best to help you get a job.
Is the upfront fee refunded, in case a student doesn’t get a job?
If you do not get a job with AlmaBetter Minimum Guarantees, we will refund you entire fees with 10% extra interest.
In which case should I choose the upfront fee payment option?
Upfront fee amount is significantly lesser than the ISA fee amount. Hence, you should ideally choose the upfront fee payment option if you can afford to pay it directly.
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