This chapter opens with a discussion of translation as a profession which has changed considerably over recent years. This chapter signals the implications of these dynamic changes in the translation industry and global economy for translator education. It investigates the concept of translator competence in view of job qualifications and requirements, also stressing the importance of personal resources that make up the psychological capital of the translator. Finally, the chapter touches upon the problem of terminological variation in translation pedagogy and discusses the term metacognitive translator training, understood here as support for learning through activating translation students’ personal resources that make up the psychological capital of the translator and determine metacognitive translator competence, defined here as the ability to self-regulate cognitive processes involved in translation. Metacognitive training provides translation students not so much with content, or depth, but rather focuses on breadth, since the main object of metacognitive translator training is the trainee and his or her personal agency.