Or about $112.50/hour.
But this is what your company pays as Corp-to-Corp, to his company.
His gross pay is significantly less. Maybe at $65/hour. So his annual pay might only be $130,000/year.
And while this is decent pay, for middle class wages, it is not really very impressive.
If you're done that, I presume there's also https://www.coursera.org/professional-certificates/ibm-z-mai... though it's starting to feel even more like marketing after seeing all that.
You can skip the hardware purchase by joining the IBM i Hobbyists discord[2]; there are a decent number of people with machines who are happy to give out accounts (myself included)
IBM i is a lesser used platform for COBOL, though; the main one is IBM mainframes (aka MVS and z/OS). To get started there, you could try Master the Mainframe (I don't have a link handy, sorry) or tk4[3], and get support from the Mainframe discord[4]. I'm focusing on IBM i because I found it significantly easier to get started, and the platform itself has a really unique design that I was interested in learning about.
[1] https://www.ibm.com/support/knowledgecenter/ssw_ibm_i_73/rza...
[2] https://discord.gg/s5xs5ceW26
Next up: learning Ada.