It wasn't a very interesting language back then, and it definitely isn't one today, so in my opinion nobody should learn it unless they have a really good reason (and no, you won't make big bucks working with COBOL).
Source: I have experience with COBOL banking systems. Horrible, horrible programming language.
I worked for a company that 'on-shored' COBOL and RPG programmers. Many of the Senior Engineers were called out of retirement and were training up the younger folks hired. They placed their main office in a rural area which kept costs low and, for the area, they were paying great money, particularly for the entry-level engineers.
To your point about not making 'big bucks', you're right, but it's nothing to shake a stick at if you really want to get after it.
Agreed: any job is good if you need the money. My comment is mostly a counterpoint to the usual shill articles we get about twice a year on HN about the "great opportunity" of learning COBOL today because of an alleged programmers' shortage and because there are big bucks there... allegedly.
Those of us who actually worked with COBOL know it's an awkward language used for legacy systems, and which should be avoided -- and definitely not learned now -- if you can get any other programming job.
No, COBOL is not "fun". No, it's not a good programming language. No, it's not the best money making opportunity. No, COBOL programmers aren't making lots of money. And the downside of getting a COBOL job is pretty big: you have to use COBOL.
This week we already had three COBOL related posts to HN (that I saw), one of them of the "you should learn COBOL" shill type.
Source: I have experience with COBOL banking systems. Horrible, horrible programming language.