In the article we deal with the substantiating of the urgent problem of a psychologist’s satisfaction with the profession and the professional competence of a graduate. The basic theoretical approaches to the researching the satisfaction with the profession are analyzed. Professional competence of a psychologist is considered as the readiness of a graduate to realize the professional work in such spheres as psychological education, psychological preventive measures, psychological consultation, psychodiagnostics, psychocorrection, etc. The components of a psychologist’s professional competence are considered as the factors of satisfaction with the profession. Various models discovering the contents and the ways of the formation a psychologist’s professional competence are offered in modern researches. A graduate links the satisfaction with the profession with the feeling of his competence in the field of theoretical and practical grounding. As the achievement of a high professional level is impossible without the realization of professional self-reflexion, we have carried out the research of the professional graduates’ competence of the Gomel state university named after Francisk Scorina as a factor of satisfaction with the profession of a psychologist. On the basis of the generalized research results, we suggest the conclusions: what necessary grounding received in high school the future psychologists link their satisfaction with; and the recommendations how to carry out the perfection in the training of experts.