After his orbital flight, Volk served as the head of pilot-cosmonaut training department for the Buran program and later (after the project's cancellation) worked for the Gromov Flight Research Institute as a Flight Tests Deputy Chief before retiring in 1996. He previously served as President of the National Aero Club of Russia and Vice President of the Fédération Aéronautique Internationale. As recognition for his contributions as a test pilot and cosmonaut he was awarded the Hero of the Soviet Union on 29 July 1984.