Financial Modeling is Like Boxing!
It seems that financial modeling has something in common with boxing! Since 2013 I’ve been taking part in ModelOff Financial Modeling World Championships, qualifying to the finals twice and taking the 5th place in the 2017 New York Finals.
I have recently discovered that there is another financial modeling competition held by the Corporate Finance Institute. It is called World Case Championships and it will be held in November. The competition website is https://financialmodeling.org/.
Pros and Cons
In contrast to ModelOff, the World Case Championships emphasize thoroughness rather than speed. The participants are required to send a complete package of documents: a financial model with a company valuation, a PPT presentation and a video pitch. There is no time pressure in the competition as opposed to ModelOff.
However, what I see as a potential problem is the fact that the World Case Competition is judged subjectively by a jury. ModelOff seems to be more objective, as their rankings are based on the number of tasks you have managed to solve. Just like short-track and ice skating – same venue, same shoes, but completely different ways to determine the winner.
So, seems that we might be looking at having several world champions, each within a different version – just like in professional box 😊.
Which One to Choose?
As for me, I plan to take part in both competitions this year. I hope I’ll manage to find some time in November to make a qualitative entry to the CFI event. November is one of the busiest months for me and my team at CFOTemplates.com, as most of our clients are preparing their budgets for the next year.
I will keep you posted on my progress in each of the competitions. Will try to compare both and advise on pros and cons of each of the competitions.
P.S. You are welcome to connect or follow me on LinkedIn to get new ideas about financial modeling. I will be posting useful tips and tricks, as well as tutorials in the field of financial modeling.