I worked for a welding company and a significant portion of the engineering training involved attending welding school, which also included classes about the chemistry and physics of welding. They drilled into our heads the dangers from long term exposure to elements and chemicals in the fumes such as manganese and cadmium, and I even recall them mentioning lawsuits brought upon them that the company won, which I guess somehow disproves the danger. Anyway, if there's one thing I learned it's that I'd never allow my family members to become professional welders if I have a say. That stuff is nasty and a dirty "secret". Not to mention, a huge number of welders develop cataracts, but that could be due to incorrect shade usage and one one's fault to blame but the weldor....which I guess you could point back and say that's a result of improper training. Either way, I think welding is fun and a great skill to have, but I'd never do it for a living regardless of the pay.
edit - I should add this mostly applies to flux based welding such as stick and FCAW