ENThe scientific discussions emphasize that educating and training students as high quality professionals for future labour market calls for the active involvement of both educational institutions and other stakeholders who represent the norms and values of post-industrial, sustainability oriented society. Participation of these stakeholders is based on both rational and emotion-based interests, and the boundaries of their responsibilities differ in scope and manifestation. The aim of the paper is to identify the manifestation of stakeholders’ roles (higher education institutions and labour market representatives) in the preparation of students for labour market. The qualitative research strategy employs conversation and semi-structured interview which enabled to disclose the experiences of research participants about the research question under the investigation. The sample of higher education institutions’ representatives (19) consisted of deans and vice-dean of Lithuanian universities and colleges, supervisors of students’ internship. The group of the labour market representatives (42) is made of the owners of business enterprises, directors and managers. The results of the research imply that both educational institutions and employers have to commit themselves to the process students’ preparation for the labour market. However, the manifestation of their roles indicates the uneven distribution of the responsibilities. The educational institutions by default take the roles of educator, employer, mediator and observer while the employers tend to perform the roles of educators, partner and sponsor. However, the boundaries of their responsibility and commitment have not been clearly defined. Keywords: stakeholders, students, higher education institutions, employers, labour market. [From the publication]