Coding was always a temporary profession.
Back 200 years ago, most people were illiterate. If you could read and write, there was work. You could become part of the machinery of the beginning industrial revolution, actually quite an important cog. Just by knowing how to read and write, someone would need your skills to coordinate stuff, mostly mundane. But it meant you had a way into a business. You might convert your clerkship into accountancy or law, or you would become a manager, knowledgeable about whatever business you were working in.
As time passed, everyone became literate. Knowing how to read and write stopped being the only thing you needed to get on the career ladder.
When I started working, my boss had no degree. He had energy, and he could do arithmetic. This got him a job as a young man running around with slips of paper in the LIFFE pit. Eventually he learned how option trading worked.
He got older and hired me. By this time, you could easily find a highly numerate graduate, and only such people were considered for finance roles. It was enough to have an Oxbridge degree and just sort of be smart enough to figure out coding on the job.
Now, when I look at the new grads, they blow me away. They can already code quite well. They already have internships in the business. They already have an idea of what alpha is, and how to find it. They are well on their way to just being quantitative trading professionals.
We are in an interim period similar to the expansion of literacy. The school system has not ramped up computer literacy in the way it successfully got most kids to be able to read and write.
Until there are lots of people able to code, there will be lots of programming jobs. That is, jobs where the person is in the seat because they can code. Much as in 1825, there were clerking jobs for guys who could read and write.
Or so we thought.
Now there is a tool that allows the business side to make code. It's not even that terrible code in my opinion, and it will only get better. It's here, and if you know what the business needs, you can use it to further the business goals.
The great divide that will open up is that developers who got into business because they could code are now in a bit of a wonderland. They not only know what code is needed, they can implement it without their friends who are further down the chain.
People who are just finishing a course in how to code, well, they face a bit of a struggle. On one hand, it's an important skill. On the other hand, for that skill to pay, you need to jump the gap that was once a stable existence. It might not be its own skill any longer, you might need the domain knowledge on a whole higher level.