A 1959 programming language, COBOL, is powering global finance and government systems. As experienced programmers retire, companies face a talent crisis. This has created a lucrative opportunity for new developers learning this older skill. Banks and agencies are paying top salaries to maintain these vital systems. AI is also being explored to help manage COBOL code.
It’s just a fundamental misunderstanding (/greed) on the part of administrators who think “person with job title” = “person with same job title but more experience”. If there were unions for all industries and accepted pay rates/increases then we wouldn’t have this problem. It’s a race to the floor. We’re assuming that college students/HS grads are perfectly informed about the job market and businesses and employees are collectively maintaining the perfect balance of hiring, training and salary equity based on skill and experience… It’s absurd. Our economic system is absolute anarchy. It’s not planned in the slightest and we’re falling behind countries that have more coherent strategies based in data and logic and collective interest instead of greed and self interest. You reap what you sow.
It’s just a fundamental misunderstanding (/greed) on the part of administrators who think “person with job title” = “person with same job title but more experience”. If there were unions for all industries and accepted pay rates/increases then we wouldn’t have this problem. It’s a race to the floor. We’re assuming that college students/HS grads are perfectly informed about the job market and businesses and employees are collectively maintaining the perfect balance of hiring, training and salary equity based on skill and experience… It’s absurd. Our economic system is absolute anarchy. It’s not planned in the slightest and we’re falling behind countries that have more coherent strategies based in data and logic and collective interest instead of greed and self interest. You reap what you sow.