The success of research projects largely depends on the interaction of students and supervisors. Purposes of the study were to identify the students’ expectations of interaction; and to compare the subjective supervisors’ estimates of students’ research abilities with students’ research abilities measured by objective indicators. A sample consisted of students (bachelors, masters, graduates) and supervisors from different faculties of St.-Petersburg State University. The questionnaire; content analysis; psycho diagnostic techniques for studying students’ intellectual abilities and research potential, and 10-point assessment scales for supervisors were used. Students’ expectations from supervisors were described. It was shown that supervisors’ evaluations were often inexact and correlated more with external indicators of research activity of students than with their intellectual capacities. Necessity of focused work to improve the accuracy of the mutual understanding of students and supervisors was substantiated.