Competency development is important in any MBA program, perhaps the most in the capstone course. Aggregating replies from 167 MBA graduates who completed a client-oriented, team project-based MBA capstone course within a nine-year study period, two new reliable and distinct scales reflecting career competencies learned were developed, Business Project Competency (6 items) and Opportunity Discovery Competency (8 items). MBA graduates who reported their capstone experience had helped with four career advancing behaviors, i.e., in a job interview; to move to a new position or get a raise; change of careers; or expanding their professional network, had higher perceptions on both scales, versus MBA graduates not reporting these career advancing behaviors.