This article aims to understand how graduate study is conceptualized in Brazil, Costa Rica, Ecuador and Mexico, as well as to discuss some peculiarities of professors who work on this formative level. The methodology of this comparative study included bibliographic research, documentary analysis and focus groups. Despite being understood differently in these four Latin American countries, graduate study represents a higher level of qualified education that, in general, requires involvement in research. The boundaries between the Specialization Course and the Professional Masters are tenuous and ambiguous in most countries. The academic title necessary to work as a professor of graduate education is distinct, and many professors are vulnerable to precarious jobs, indicating common problems and challenges for the advancement of this educational level in the region.