The topic of this paper is translation competence, especially its models and components, and the analysis of the current state of the language industry market. The goal of this final thesis is to find out what competencies translators and future translators should have, considering what services are offered on the market of the language industry, and whether during their studies students of translation studies and future translators develop the competencies necessary to provide the aforementioned services. Firstly, the services that are most often offered by translation companies were analysed, then the masters study program courses were analysed and finally, the results of the analyses were compared. The results suggest that master’s study programs for students follow the trends of the language industry but not sufficiently. Based on the conducted research, it can be predicted that there will be an increasing demand for creative, machine and audiovisual translation services, and it is necessary to include more such content in study programs so that students are ready for the future market.