Transformations in Europe, especially among the new EU members, have caused changes in labour market expectations, with specific relation to university graduates. We would like to check if schools understand these changes. This paper is a report on the results of a reseach project which looked at the relation between teachers' and employers' expectations from students. The main methodological parameters of this study were as follows: Qualitative strategy, the practical diagnostic type, ethnography schematic, data collection methods; Focus interviews and situational testing, data analysis; Build of grounded theory. First, the grounded theory regarding teachers' and employers' expectations was verified. We changed the data from the grounded theory to the items of the questionnaire. In the next step, we gave this quesionnaire to 100 teachers and employers and they filled out the form. Our analysis shows statistical differences between teachers and employers in over 10 values that relate to the functioning of the labour market.