The article discusses the results of comparative analysis of ideas of students, methodologists and employers of the necessary contents of teaching business English for masters-to-be in the technical university. Students’ and employers’ ideas are more practically oriented and they take into consideration the present-day labour market requirements. They consider business English etiquette clichés, telephone conversation peculiarities and business writing the most important aspects of the business English contents. Methodologists while assessing the necessary contents of the business English teaching take into consideration the goal of preparing students for entering PhD courses. They think that the most important aspects of the business English are scientific articles writing and making scientific reports and presentations. It is concluded that the approaches to organizing the foreign language teaching in the magistracy should be changed taking into account the real conditions and needs of all the interested parties.