The paper analyzes modes in which teaching stuff on Belgrade University perceive Bologna process, in global and local Serbian societal and university context, different administrative and management instances within higher education system, as well as teachers' relation toward these instances and the perception of teachers' place within this new higher education system caught in the intensive process of Bologna transformation. The empirical foundation of this paper represents the research of the labour conditions of university teachers that Center for Educational Policies performed during 2008 on five faculties from Belgrade University.