Isn't $79k somewhat offensive for a software engineer? At a time when new college grads are making well over $150k their first year?
On the plus side: someone who is both a) a productive engineer and b) not as abominably terrible at negotiating as the typical engineer will, two years out of this program, be able to lateral into an intermediate engineer position at their next company for a compensation package worth north of $150k.
(P.S. Folks who think purewater or I are grossly off the mark for current conditions in Silicon Valley may wish to take a few people on coffee dates. What you learn will buy an awful lot of lattes.)
What percent of new grads work at Facebook/Google, do you reckon?