Research Challenge


2023 CFA Institute Research Challenge

The CFA Institute Research Challenge is an annual global competition that connects university students with investment professionals from within the CFA Society® network. The competition provides students with hands-on mentoring and intensive training in financial analysis and ethics and tests participants' analytical, valuation, reporting writing, and presentation skills.

Members of our society, along with a faculty advisor and an industry mentor, work with teams of students to value a stock, write a research report, and present their recommendations. Teams then compete with peers from other schools at local-level competitions organized and judged by CFA Society members and volunteers. The winning university team(s) from each local competition then advances to see who will become the sub-regional, regional, and global champions. 

Learn more and read FAQs See the schedule and get involved

Get Involved with the Research Challenge


It all starts at the local level. Local Hosts made up of approved volunteers and CFA Institute society members organize and judge the local level Research Challenge competitions. 

  1. Find out if your university participates by asking your professor or contacting your nearest CFA Institute member society.  
  2. If your university does participate, contact your faculty advisor and ask for details on how to become a team member.
  3. If you learn your university has not participated before, ask a professor to become the faculty advisor.
  4. The faculty advisor should contact the nearest CFA Institute member society for more information.

Contact a local member society

What Can I Expect?

·         The majority of local level participants indicated that they spent

o    100–150 hours researching their assigned company and assembling their report.

o    30 or more hours practicing and assembling their presentation.

·         The majority of regional level participants indicated that they spent more than 60 hours preparing for the regional competition.

·         At the local level, you may be responsible for covering the cost of travel and accommodation for all meetings and events. Contact your Local Host for more information.

Review the student resources

View winning presentations from past challenges


Contact the Research Challenge team


Finance Professional Volunteers

Volunteers are essential to the success of the Research Challenge. Please consider one of these roles:

·         Faculty Advisor: Typically employed by the team's university, a faculty advisor provides guidance and direction to the team throughout all levels of competition.

·         Report Grader: Selected by the local host, report graders evaluate the team’s written reports.

·         Hosts include the CFA Institute Member Society, CFA Institute, or CFA Institute approved third-party responsible for sponsoring either the local level, sub-regional level, regional level, or global level of the Research Challenge.

·         Industry Mentor: These industry professionals, preferably CFA charterholders, are assigned to the team by the local host to review the team’s written report and provide critique of their  presentation.

·         Presentation Judge: Selected by the competition host, judges evaluate the presentations (ten-minute oral and visual presentations prepared by the team).

Learn more about volunteering for the Research Challenge



Please contact ​Jean McGowan at [email protected] to become involved or register.