Competence-based education (CBE) is an international educational trend and a core issue in developing Finnish vocational upper secondary and higher education. The theory and practice of the competence-based approach should preferably be included in vocational teacher studies. Yet, there are still relatively few organisations implementing competence-based vocational teacher education in Finland. This article examines the realisation of competence-based vocational teacher education. The small-scale mixed-method case study explains the student teachers’ conceptions of the competence goals in their studies. The competence goals describe the competencies to be achieved as a result of training. According to the research findings, competence goals clarify the student teachers’ understanding of the demands of a teacher’s work, facilitate students to reflect on their competences and help in preparing individual study plans and promoting their studies. However, the student teachers need university teachers’ guidance to get their studies started and to promote the competences flexibly.