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Abstract: The goal of Master’s program in “Translation” is to teach highly qualifies professionals with the skills of translation and deep knowledge of different spheres. The article discusses the skill of a translator form the point of view of its components; it describes teaching models that exist nowadays; it analyzes the main problems that arise in teaching and offers solutions. Among the problems that compromise the quality of teaching translation are: academism; inability to master translation skills in real communication; personal qualities of prospective translators; poor theoretical knowledge of the native and foreign languages caused by the lack of basic knowledge; poor cooperation of universities with the potential employers and the absence of student exchange programs. The authors propose several activities to raise qualification of translators in Master’s program. It is, first of all, advanced training in translation, which includes systematic check of home-reading and reorganization of the work of a student and a teacher, and a student and their scientific advisor. The article emphasizes the importance of translation practice, which is possible in tutorials in translation. Cooperation between universities and prospective employers promote professional skills of Master’s degree students and helps them adjust to the needs of the labour market. Improvement of personal qualities and professional skills of Master’s degree students in the specialty of Translation should be carried out in practical training period; it is necessary to invite famous translators to give lectures and practical classes at university.