I have a lot of colleagues that are COBOL programmers, and they are some of our brightest and smartest developers. COBOL programming is still taught in universities here in the Philippines and what I am understanding from this article is that there are some lucrative opportunites abroad for them. Of course, job stability might be better locally or even in southeast Asia but the reality is these programmers, like all other Filipino programmers, are severly underpaid.

https://nymag.com/intelligencer/2020/04/what-is-cobol-what-does-it-have-to-do-with-the-coronavirus.html