And generally this is how MgT handles it. In CT if you went 5 terms, made all of your Re-enlistment, Commision and Promotion Rolls you'd typically end up with what? 11 Skills? Maybe 12? In MgT if you did the same thing, 5 Terms, made all Survival/Commision/Advancement Rolls you typically end up with 20. Sometimes a lot more depending on Career Events. So, the actual play effect is the same, i.e. the Character can accomplish the same things, it just a matter of the level detail.
But if you compare it with MT, by achieving all the rolls for commision, promotion and special duty, you could obtain about 3 skills per term, or up to 5 if you rolled 4 higher than needed, so a character wiht 5 terms could have more than 20 skills, by rolling all. (in the first term, you could achieve 2 per term, 1 automatic per career, 2 per commision, 2 per promotion, 1 per rank attained and 2 per special duty in some careers, making a record of 10 skills in a term, by rolling all high enough. Unlikely but possible).
And of course, we're not talking about advanced CharGen...