CFA Institute Research Challenge

An educational initiative that promotes best practices in equity research among the next generation of analysts

The CFA Institute Research Challenge is an annual global competition which provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics. Each student participant will be tested on their analytic, valuation, report writing and presentation skills and gain real-world experience as they assume the role of a research analyst.

More than 6,400+ students from over 1000+ universities, 119 CFA Local Level Challenges, and 150+ local hosts in 90 countries and territories with more than 3,000+ dedicated member volunteers will participate in the 2022-2023 CFA Institute Research Challenge

Click here for details on how the Research Challenge works.

CFA Society Chicago is proud to host the local level of the CFA Institute Research Challenge in Chicago.

Schedule of Events

The Research Challenge spans October 2022 through April 2023 and consists of the following components:

CFA Society Chicago Research Challenge Kick-Off Webinar – September 23, 2022 – Kickoff Presentation

Financial Valuation Models

Introduction to Company Analysis

Industry & Company Analysis

Financial Analysis Review Grid

Conflicts of Interest Form

October 7, 2022 Steelcase Company Presentation

October 21,2022 Teams Finalized, Students & Faculty Advisors Register with CFA Institute

November 4, 2022 Valuation Expert Webinar – James Valentine, CFA – Professor Finance, Marquette University

December 9, 2022 Teams’ Follow Up Questions for Company Due to CFA Society Chicago

January 20, 2023 Teams’ Equity Research Reports Due to CFA Society Chicago by 5:00 p.m.

February 13, 2023 Advancing Teams Announced

March 3, 2023 In-Person Oral Competition

April 6-7, 2023 Virtual Sub-Regional Competition

April 13-14, 2023 Virtual Regional Semifinals

May 3, 2023 Regional /Global Finals (In-Person, Washington D.C.)

Feature Company: Steelcase

Steelcase is a manufacturer of integrated furniture settings for the workplace, user-centered technologies, and interior architectural products. The company designs furniture for office settings, including adjustable desks / benches / tables, storage products, ergonomic chairs, collaborative seating systems and cubical structures, and various accessories and related services. Steelcase was founded in 1912 in Grand Rapids, Michigan, and became a publicly traded company in 1998. It has nearly 12,000 employees and generated $2.8B in revenue in its most recent fiscal year.

Steelecase Investor Presentation - October 7, 2022 (PDF)

Participating Universities

Augustana College
Illinois Institute of Technology
Lake Forest College
Millikin University
Northern Illinois University
Northwestern University
Olivet Nazarene University
Trinity Christian College
University of Illinois Chicago
University of Illinois Springfield
University of Illinois Urbana Champaign