(FORTUNE Magazine) – DEAR ANNIE: I am at risk of losing my job for the second time in seven years due to a closing-down of a facility. I'm over 50, trying to complete my degree in computer science, and have taken certification classes in both MCSE and MCSD. How can I make the transition from computer operations, where I now have a high-paying (union) job, to programming--without taking too much of a pay cut? How can I convince personnel managers that I can program just as well as young people right out of college? NOT OVER THE HILL

DEAR NOT: You aren't the only one wondering. The latest issue of Datamation online reports that techies over 50 are suffering a Great Depression all their own, with unemployment at 17%--even as a daunting shortage of skilled workers has companies in a mad scramble to hire programmers fresh out of school.

Dave Cowen owns two companies, Fanning Technical Search and iNet Staffing, both based in New York City; iNet does national searches for clients like AT&T and MCI. Says Cowen: "In this marketplace, older people face two hurdles. One, they may have more management experience but less hands-on knowledge of the latest technologies. And certification doesn't really count, by the way. It's like reading a book about kissing. To get good at it, you need lots of real-life practice. And two, with 20-plus years of working life behind you, you are much more expensive than some young kid. How can you compete directly with a 24-year-old? The short answer is, you can't."

But then, you already knew that. What you can do is swallow your pride and take a step or two backward. It's a short-term loss, and it prepares you for a giant step forward. "Accept the fact that for the next 18 months or two years, you are probably going to make less money than you make now," says Cowen. "But use that time to get as much and as varied experience as you possibly can--both by taking advantage of the training that companies offer and by doing low-level programming that clues you in to the latest technologies."

And if even an entry-level programming job proves elusive? "There are more short-term projects and contract jobs available now than ever before, partly because of the year 2000 problem," Cowen says. "They can be a terrific way to hone your skills and then go back into the full-time job market."

In short, the transition you want to make is not going to be quick or easy, but it isn't impossible. As Cowen puts it, "If you bite the bullet now, you can probably get back up to your current level of pay in two years or so. And you'll be far better off in the long run."

One comforting thought: All those sought-after 24-year-olds will be 50 someday too--by which time you'll be relaxing on a beach somewhere.

DEAR ANNIE: I am a teacher in a work-study program at a suburban high school, and I try to teach my students realistic lessons about the business world, i.e., the importance of teamwork, why manners (punctuality, politeness) matter, and so on. In your opinion, what is the most crucial thing I should teach them about building a solid career? SARAH

DEAR SARAH: Since you asked for my opinion, I'd say a sense of humor--especially about oneself--is the single most essential thing. But, hey, we try to deal in hard data here, and plenty of wiser heads than mine have closely studied the question of employers' unfilled needs. Your students may want to think about what Caliper, a human resources consulting firm based in Princeton, N.J., just discovered in a survey of 1,000 U.S. executives. It seems that people who do the serious hiring in companies these days are desperate--and no, that is not too strong a word--for candidates with two traits:

(1) A talent for problem solving. By which they mean: If I give you a Serious Situation to fix, can you figure it out? Assuming that you have the technical skills and we give you the resources, do you have the imagination--and the dedication--it takes to worry this thing like a dog with a bone until it works? And (2) conscientiousness. That is, do you know what a deadline is, and will you meet it? Do you understand your responsibilities to other people--especially customers and colleagues? Will you try to do a good job even when you're having a bad day?

Problem solving and conscientiousness were selected by these 1,000 executives more than twice as often as any other quality, although "open to new ideas" and "versatile" ranked pretty high too. And--maybe not so surprisingly, in light of the rest of this--"ability to handle stress" is a must-have. Says Harold Weinstein, CEO of Caliper: "Employers don't want to hire managers just to carry out routine tasks. Computers can do that."

The more sophisticated technology we utilize, in other words, the more fully human we have to be. With that in mind, the best advice you could give your students might be pretty good advice for anybody at any age: Always do your best.

DEAR ANNIE: I just saw this character Al "Chainsaw" Dunlap on television, and he was shouting viciously at a questioner he did not like: "Why dontcha get a day job?" He appeared to model his style on Hitler at Munich, which some of us recall all too clearly even if he does not. I am told this is a fashionable style in these strange times. I just want to ask, Do CEOs have their own rules of etiquette? Is it acceptable for a CEO under fire to shout insults at people? GREENWICH

DEAR GREENWICH: No.