Enrolment in master’s programmes, especially online ones, has increased exponentially in recent years. This article analyses the relationship that several sociodemographic and academic variables have with motivational components, self-regulation, study approaches, and competence development in online university postgraduate students. The following self-report questionnaires were used: the Motivated Strategies for Learning Questionnaire (MSLQ), the Self-Regulated Learning Processes Inventory (IPAA), and the Study Processes Inventory (IPE), as well as an ad hoc questionnaire relating to competence development. We found statistically significant differences in all the variables studied. The number of hours spent studying turned out to be significant in learning strategies linked to a deep approach. The factors analysed influence motivation, self-regulation, and competence development associated with the programme, and that the students participating in the study approach this process from a deep learning approach.