Over the previous decade, higher education in Slovenia and Serbia has undergone considerable reforms, influenced by the Bologna process and its agenda of competence and learning outcomes. In the context of these reforms, the aim of this research is to consider the question of the relationship between the theoretical and the practical education of pedagogues at the university level. Eleven university professors from departments of pedagogy and andragogy at the universities of Ljubljana and Belgrade were interviewed. The semi-structured interviews focused on two main research questions: 1) how they understand the relationship between pedagogical theory and practice, and the identity of pedagogy as a science in that context, and 2) their opinion about the competence-based approach in the context of the study of pedagogy. The findings show that the majority of the interviewed university teachers hold an opinion that pedagogy is primarily a theoretical (reflective) science and, accordingly, that the mastery of theory is crucial for the development of pedagogues' competences. Furthermore, most of them are rather reserved and critical of the competence approach as well as of the practical skills development. Although there are some differences in opinions between the professors from Ljubljana and Belgrade, this study shows that similar discourses prevail. The gap between pedagogical theory and practice is one of the major issues that have been current in pedagogical science in the recent decades. The findings of our research indicate that there is dissatisfaction with the relationship between modern pedagogical theory and practice, accompanied by the need for its reconceptualization.