The article deals with the challenging problems of Master's training in Russia, Higher Education reform and directions of its development. Limitations of some approaches to creating national education standards of Higher qualified education in the field of Master's programs are considered. The necessity of value added idea in Master's Training is proved, structural model and methods of value added estimation are presented. Master's programs experience of some Russian and foreign universities is considered. A number of recommendations on reforming and developing Higher Education system for providing high value added of Master's training are given.