There is a need for oral translators. The FPMT has a decent program to train translators. I completed it but am far from the most illustrious of its graduates, though I can do my job somewhat competently. http://www.lrztp.org/
Illustrious graduates include Ven. Bob Miller (Ven. Zopa) who translates for Khamtrul Rinpoche, the Dzogchen master who lives near Gyuto Monastery, Voula Zarpani, who translated for the late Kirti Tzenshap Rinpoche and now translates for Choden Rinpoche. I believe that Garchen Rinpoche's translator also completed this program. A position is not guaranteed at the end, unfortunately, but many graduates do get placed.
I do feel that 2 years is way too short to fully qualify one as a translator, though people manage. In the first year or so you will have to have a patient lama who will prepare with you before the lessons. Ideally the program would be three years in my opinion.
In terms of how much you learn in a short time, though, LRZTP is amazing- but half our class dropped out because the intensity was absolutely too much. There were also weekly quizzes and one had to pass in order to continue, though I understand this has now been relaxed somewhat.
My friend studies at the International Buddhist Academy in Kathmandu, Nepal and also spoke highly of this program. Rangjung Yeshe has a 1 year translator training program, I have not had any direct feedback about that but am curious as to how they could make a go of it in one year.
If you are interested in oral translation I would say it is crucial to establish a good relationship with the lama you are translating for, then on the basis of that you can have great conditions to improve yourself, and the audience will pick up on the vibe and have more confidence in your capacity to relay what the lama is saying accurately.
There is still a need for oral interpreters, but not so great that a competent person would be guaranteed a job. And certainly, as was mentioned above, you don't do this for the money. I don't know how it would be possible for anyone to support kids through this, for example.