Something that a union would definitely solve. What are the banks gonna do? Fire every veteran and hire a team of underpaid newbs to manage their critical systems? If they were dumb enough to do that, let them save themselves millions a year by facing billions in losses… I’m sure that’ll work out well.
If only there was one, I wish I had one just so I wouldn’t have to do all the fucking social hoops just to get my resume noticed by an actual human before the HR’s “I don’t want to do my job!” machines filter me out for not going to an Ivy League School like apparently everyone else did.
The thing is, this type of job never needed a union previously. It was niche enough for a long time, that you were sought out and rewarded well. But yes, I think we're moving into an era where we do need union representation.
Oddly enough, with my experience I am sought out still. Just for bizarre startups who clearly never checked my previous work history. Some of the messages I get on Linkedin for example are just weird requests.
I think the problem is that unions are famous for fighting for equal pay across the board for the workers they represent regardless of individual competency or market demand. For this example they’ll give COBOL developers a raise to 120K and give web developers a pay cut to 120K.
Or best case scenario they give the COBOL developers a short-term raise to 150, then raises across the industry stagnate in coming years to offset the fact that employers feel like they’re overpaying for some people. But sure, a few years later the union can come in to look like a hero arguing for a fraction of the raise the web devs could have already gotten.
I swear to god, companies are nowadays just picking the solution with the most buzzwords. Any compiler engineering student knows how to write a transpiler from one language to another, while getting this right is a cumbersome task, it still completly automated afterwards. Just hire a few compiler engineering phds and the job is done in at least half a year.
You want to translate COBOL to another language? That exists as a commercial product! The complexity is not the syntax though, it is the environment and subsystems surrounding the code. A lot of COBOL is designed for mainframe systems, and emulating a mainframe is complex.
You also end up with code that is still written as if it were COBOL. The syntax for COBOL is the easy part and that is all you can easily replace. Afterwards you’re still stuck with the way of working and mindset, both of which are quite peculiar.
The company I work for recently looked at all of this, and we decided not to translate our code.
Just make the devs learn the language if they don’t know it already. What kind of shitty mid to senior dev can’t learn a new language in a reasonable amount of time.
I think it’s a matter of expertise. I am stuck dealing with people who write Javascript/Typescript like it’s C# because they’re C# senior devs. It’s not world-ending until issues of speed, scale, or other “why we use best practices” raise their ugly heads. Then it is world-ending. I can only help with so many design standards when you still see everything show up in a classes-and-subclasses mindset with hard-to-catch concurrency bugs. I actually caught a developer trying to spin up a child process to wait on a socket response.
So in FinTech, I can imagine it becomes a bigger deal faster.
Who would've thought a sector with gold flowing through its hands would be so stingy when it comes to updating their backend that they'd end up relying on a dying language, and call upon AI to update it for them rather than just paying a competent team to create and rigorously test a new backend in a modern language
One problem is that they need to put a price tag and therefore a timeline on such a project. Due to the complexity and the many unknown unknowns in theses decades worth of accumulated technical debts, no one can properly estimate that. And so these projects never get off and typically die during planning/evaluation when both numbers (cost and time) climb higher and higher the longer people think about it.
IMO a solution would be to do it iteratively with a small team and just finish whenever. Upside: you have people who know the system inside-out at hand all the time should something come up. Downside of course is that you have effectively no meaningful reporting on when this thing is finished.
Friend has a cobol + IBM AIX combo going for him and his on call + at most 1 day/week of work position pays more than my full time very senior dev role.
Idk what the AIX job market is right now, but several years ago banks in central Europe poached employees back and forth just to reach minimum staff required.
I know a person who does AIX consulting with Cobol. She works about 4-8 weeks a year spread between 3 companies and makes enough to raise a family and fund a massive hobby farm. Helps to be in an area with a large fintech presence I imagine.
Very nice, yeah that’s the problem. I broke into AIX in the wholesale industry in early 2000’s so I have very few finance connections, which is where it all seems to be.
I have also been work from home for 7 years now and figured I’d have to go onsite for banks. That may have changed post covid. I will poke around and see what might be out there for me
A lot of banks have bootcamps where they pick up unemployed people who might not have ever had tech experience in their life. They teach them COBOL and mainframe basics in a few months, and, if they do well, give them a shitty $60k annual job.
Source: know someone who went to one of these bootcamps and now works for a major us bank.
There are some court cases going on right now about this type of thing. Generally, the payback is only allowed to be for the real cost of training, and only for a few years. So that 60k salary for 3 years is also the right amount to make you worth 150k anywhere else.
That’s because the COBOL OGs are retired/ing and the industry has been training young people telling them “yeah, sorry, this is all we can pay you”. Here in Europe, they’ll take unemployed people from a different industry, put them on a training course, and bang! you’ve got a grateful new dev who doesn’t know how much they are worth.
You just gotta keep spreading the message. I keep happily sharing my salary, especially with younger, less experienced devs, so we can all win better.
For real. Even just talking to your fellow coding monkeys helps. It’s ironic that for example here in France, despite all our workers rights and revolutionary tradition, speaking about your salary is still a social faux-pas. And who benefits? Certainly not us.
I’d understanding actively pressuring someone to share their salary being a faux-pas. Admittedly, just sharing your own may make some people feel pressured to share theirs out of reciprocity, but just sharing your own salary generates nowhere near the same amount of pressure as outright telling someone “share your salary or you’re a bad person on the side of The Man!”
I hope the amount of people sharing their salary increases and talking about it becomes normalized.
Man I’d swim to Europe if some company wants to swoop me up and train me for something that valuable lol here in the States I have to not only pay for the training out the nose, but also find the time to do that while still working my regular job lol
At what point does the cost of tech migration outweigh the cost of training people on a more and more specialist paid language just to not have to migrate to a memory safe higher level language like C or Go or Rust or Lua.
Didn’t say python because oh sweet Jesus the slowdown alone would grind the global economy to a halt if we were running all our banking software on Python XD
Didn’t say python because oh sweet Jesus the slowdown alone would grind the global economy to a halt if we were running all our banking software on Python XD
ah so we just need to persuade banks to switch to python. Noted
Right, you can make that kind of money when you have 40 years of Cobol behind you. But even for new entrants, $90k seems low. There had better be a premium for dealing with old bullshit, especially when you’re probably damaging your resume in the long run.
90k sounds pretty standard for inexperienced (although maybe not first job) devs in general for most markets. Throw in factors like experience or skills in low supply and that changes pretty fast.
I know that COBOL isn’t going away anytime soon, but most companies have seen the writing on the wall for a long time. Anywhere that COBOL can be replaced with something more modern, it’s already underway. Some places even have a surplus of COBOL devs because of it. But there are countless places where it can’t be replaced, at least not reasonably.
The only way a COBOL dev is making $90k after 5 years is if there are very specific fringe benefits that make them not want to move along, or they are extremely naive about the market.
Anywhere that COBOL can be replaced with something more modern, it’s already underw
Rewrites are extremely risky though, and some companies don’t want to risk it. That COBOL code probably has 40 years worth of bug fixes and patches for every possible edge/corner case. A rewrite essentially restarts everything from scratch.
Do you know of a decent sized company that successfully migrated away from COBOL? I’d be interested in reading a whitepaper about how they did it, if such a thing exists.
From when this has come up in the past, it’s a lucrative career path, but probably tricky to break in to since nobody’s maintaining a COBOL system they can afford to put into the hands of someone inexperienced.
The dudes earning half a million are able to do so because they’ve been at it since before their boss was born.
Yeah, and from what I understand, learning the language itself isn’t the hard part. It actually has rather few concepts. What’s difficult, is learning how to program a computer correctly without all the abstractions and safety measures that modern languages provide.
Even structured programming had to be added to COBOL in a later revision. That’s if/else, loops and similar.
It seems that back in the day, people effectively ran a simple compiler by hand on paper. It could work pretty well; Roller Coaster Tycoon was famously written in assembly.
Well, I only wrote simple exercises in Intel assembly in uni, but there were more of those with AVR assembly.
You can structure things nicely and understandably if you want.
It’s an acquired skill just like many others. Just today writing something big fully in assembly is not in demand, so that skill can usually be encountered among embedded engineers or something like that.
Sorry, I don’t remember what I used then as a tutorial, possibly nothing, and I don’t write assembly often, it was just an opinion based on the experience from the beginning of my comment. That said:
You have call and return, so you can use procedures with return. You have compare and conditional jump instructions. And you have timers and interrupts for scheduling. That allows for basic structure.
You split your program functionally into many files (say, one per procedure) and include those. That allows for basic complexity management.
To use OS syscalls you need to look for the relevant OS ABI reference, but it’s not hard.
So all the usual. Similar to the dumber way of using C.
In general writing (EDIT: whole programs, it’s used all the time in codecs and other DSP, at the very least) in assembly languages is unpopular not because it’s hard, but because it’s very slow.
Once you get into it you’ll wonder how you ever programmed without “divisions”! I mean honestly, just declaring variables anywhere? Who needs that. Give me a nice, defined data division any day 😌
I had a friend at university who got a job fixing cobol stuff before Y2K. The bank paid him extremely well, housed him in a luxury apartment during the job, and, as he had no driving licence, dropped in a car with free driver for him.
That’s what I was thinking. I moved to Europe and my salary was halved. I’m making 70K euros. After three years of scratching this “living in Europe” itch, I’m ready to move back to the U.S. An entry level developer should be making no less than 90K in the land of the free.
Yep. Few people where I live envy the US, but if you’re a developer the money is no joke. You have to expect that eventually all those big American tech companies will start offshoring, given the crazy money they could save.
I moved from Australia to the USA since salaries for developers are so much higher here. I live in Silicon Valley which helps too. If you’re a senior developer (say 5+ years of experience) then a lot of the large companies here pay $200-300k/year salary plus $100-200k/year in company stock plus a bonus that’s 10-20% of salary if you get a good performance review.
I got lucky since I’ve been into computers and programming since I was 8 years old (late 90s). My first job when I was at school was a part-time developer at a tiny IT company that did consulting work. Since then, all my jobs have been software development jobs.
The fact that it pays well in places like Silicon Valley was a great bonus. I moved here 10 years ago (when I was 23) after I got a job offer, and the starting salary was literally double what I was getting paid in Australia at the time.
The job changes a bit as you get more senior - there’s more mentoring of junior devs, project planning, deciding what your team should focus on, etc. I still spend a lot of my time writing code though, and still enjoy it. :)
There’s some downsides to living in Silicon Valley. A lot of stuff is expensive (that applies for California in general, but especially here). Housing is extremely expensive too.
Okay that is getting up in years. I was about there when I started to get more aggressive with the salary I was asking. You could probably start on the developer I -> developer II -> senior developer career path.
Do you look at other jobs much? Do much networking? Talk to other devs about their salary? Even just grabbing a lunch with some workmates from time to time can help get you in the right mindset of recognising your worth.
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