The aim of the research is to measure interrelation between VET quality and the level of teachers' education and training and to identify directions for their improving. The working hypothesis of the research is the assumption that education and training of graduates from colleges (specialists) will be of high quality if competencies are developed in accordance with the employers' demands. The working hypothesis was verified through a quantitative research (a sociological survey). The target group of the survey is 350 managers of financial and insurance companies in Ukraine, including human resources managers. The research has shown that the education and training of graduates from colleges do not adequately meet the needs of the labour market, and therefore must be improved, in particular, towards the development of appropriate competencies in accordance with the employers' requirements. The interrelation between VET quality and the level of teachers' education and training has been partially confirmed. More than a third of the surveyed employers saw the link between them. Based on the result of research, it was found that employers were not satisfied with the quality of college graduates' education and training. The conducted research has demonstrated the contradiction between the vision of the education and training results in educational establishments and the employers' expectations. This confirms the importance of their systematic collaboration in developing educational and professional training programmes and study plans. The results of the research are recommended to be used during the development of educational and professional programmes and study plans.