This study examines the degree value as perceived by the graduates of Translation Departments. The study is guided by the general Theory of Value and driven by the tenets of social construction theory. It argues that degree value is context-bounded and governed by a complex set of factors. The study also assumes that alumni perception of the value of a translation degree is mediated by the opportunities available on the ground. In line with the framework of higher education, value is viewed via three dimensions: personal, economic, and academic. The researcher administered a modified survey based on McGivneys (2002) model to gather information about the graduates background, utilization of translation degree, and assignment of value. One hundred and sixty-two participants (N=162) took part in the study. Despite the negative economic, political, and security conditions and the limited channels of employment, most of the participants perceive the degree as valuable.