This study identifies and analyzes the process of exchange between formal and informal learning practices, in the development competencies, among participants of specialization and Master's degree courses in business administration. A diversity of learning types was observed, through which individuals can acquire competencies, emphasizing the critical importance of informal learning in this process. Besides constructing a classification of twelve forms of learning that contribute to the development of management competencies, the study also suggests there is a need to recognize the contribution of informal learning for work practices in the acquisition of management competencies, enabling some proposals to be outlined for managers and professionals working in the area of management development and training.