Sociological research witnesses Essential shifts in the students‘ value system that are observed over past years. The paper represents the results of the survey of contemporary student at St. Petersburg State Polytechnic University and deals with identifying the student‘s value system with the methods by M. Rokitch. It defines the terms ―a value system‖, ―essential terminal‖ and ―instrumental values‖. Also it describes the results of the comparative analysis of needs and life goals set by the students of polytechnic departments and departments of humanities.