The Financial Modeling World Cup (FMWC) is an organization that hosts various Microsoft Excel–based competitions.

The FMWC held its first competition in September 2020 and currently hosts three competitions: Financial Modeling World Cup (FMWC) Microsoft Excel World Championship (MEWC) Microsoft Excel Collegiate Challenge (MECC)

Financial Modeling World Cup (FMWC) Description, competition format, and scoring FMWC is an annual Excel modeling competition.

During the course of a season (January through November), competitors complete eight stages of modeling problems, and are allotted two hours over a 48-hour window to complete each stage. Each stage contains three case studies, one to five pages long, with multiple choice or fill-in questions at the end. Contrary to what the name suggests, not all case studies are financial modeling based; many are business modeling or data modeling based.

Stage points are available for: Task: Correctly solving questions on each case (points vary by question) Time: Completing the stage early (10 points per minute, awarded only if the competitor has scored 900 task points)

Each stage winner's score is normalized to 1,000 points, and the score of all other competitors are normalized accordingly.

FMWC rankings and final standings are based on points scored across each competitor's top 6 stage scores (the bottom 2 stage scores are dropped).

Format changes 2020: The first of four FMWC stages started in September 2020. All stages contributed to the final standings. 2021: The stage count increased to twelve. The bottom two stages for each competitor were dropped from the final standings. 2022: The stage count decreased to eight. Case authors could not score a higher time bonus than any other player. Stage score normalization was introduced. The prize for top company was eliminated. 2023: For each stage, case authors may not score more points than the best player playing full-time. 2024: Case authors write cases for an entire stage and are automatically awarded 1,000 points for that stage. They can create cases for no more than 1 stage and are ineligible for prize money in the stage where their cases are used. 2025: The FMWC Championship Ring is no longer awarded to the Financial Modeling World Cup Champion.

Competition statistics Year Registrations Participants Maximum completed number of stages Prize pool (USD) 2020 125 117 36 $10,000 2021 333 307 72 $20,000 2022 443 402 136 $25,000 2023 401 363 136 $25,000

Results

Key

2020 Rank Name Nation Age Group 1 2 3 4 Total Prize Joseph Lau Masters 785 1,285 795 2,670 5,535 $3,000 Diarmuid Early Open 825 1,260 1,035 1,650 4,770 $2,000 Andrew Ngai Open 1,160 880 2,670 4,710 $1,000 4 John Lim Open 605 890 735 2,290 4,520 5 Christian Hueber Open 470 1,105 805 2,105 4,485 6 Anup Agarwal Open 1,000 955 2525 4,480 7 Samir Asadov Open 520 1,025 555 2050 4,150 8 Joseph Michael Palisoc Open 655 885 805 1,750 4,095 9 Dan Mayoh Open 620 875 720 1,850 4,065 10 Willem Gerritsen Masters 655 845 825 1,475 3,800

2021 Rank Name Nation Age Group 1 2 3 4 5 6 7 8 9 10 11 12 Total Prize Diarmuid Early Open 1,170 1,015 1,160 1,165 1,510 1,260 970 1,145 1,440 1,090 11,925 $5,000 Anup Agarwal Open 1,105 1,460 1,065 865 1,265 835 1,175 1,005 1,550 850 11,175 $2,000 Andrew Ngai Open 1,200 820 765 1,315 1,265 1,030 1,140 820 1,325 1,300 10,980 $1,000 4 Jeff Heng Siang Tan Open 1,290 530 1,145 1,230 650 1,250 530 1,460 1,190 1,350 10,625 $500 5 Willem Gerritsen Open 1,275 750 885 1,200 1,210 1,070 720 1,060 1,350 850 10,370 $500 6 Michael Jarman Open 825 820 1,300 895 1,170 895 1,040 867 1,420 1,090 10,322 $500 7 Christian Hueber Open 725 1,130 925 865 830 670 1,035 970 1,305 850 9,305 $500 8 Janis Reinis Beikmanis U-25 645 760 840 1,178 795 830 820 765 1,285 1,371 9,289 $350 9 Joseph Michael Palisoc Open 725 675 610 1,015 840 680 840 1,130 1,400 875 8,790 $350 10 Sameer Jagetia Open 705 650 821 685 1,040 945 670 920 950 1,330 8,716 $350

2022 Rank Name Nation Age Group 1 2 3 4 5 6 7 8 Total Prize Laurence Lau Open 1,000 1,000 959 1,000 1,000 978 5,937 $7,000 Diarmuid Early Open 1,000 1,000 885 956 1,000 1,000 5,841 $4,000 Andrew Ngai Open 847 899 838 971 974 883 5,412 $2,000 4 Michael Jarman Open 898 775 899 956 968 780 5,276 $1,000 5 Willem Gerritsen Open 740 790 795 646 788 834 4,593 $800 6 Joseph Michael Palisoc Open 809 737 779 676 840 713 4,554 $750 7 Anup Agarwal Open 694 712 849 697 840 749 4,541 $700 8 Tim Roberts Open 762 778 593 698 835 700 4,366 $650 9 Matthew Fried Open 821 611 694 646 878 686 4,336 $600 10 Paul Dent Open 833 619 734 705 644 794 4,329 $550

2023 Rank Name Nation Age Group 1 2 3 4 5 6 7 8 Total Prize Laurence Lau Open 1,000 1,000 1,000 1,000 1,000 1,000 6,000 $7,000 Diarmuid Early Open 917 885 857 993 717 972 5,341 $4,000 Michael Jarman Open 1,000 685 713 683 1,000 818 4,899 $2,000 4 Andrew Ngai Open 857 943 835 685 675 805 4,800 $1,000 5 Willem Gerritsen Open 895 762 664 663 586 610 4,180 $800 6 Joseph Michael Palisoc Open 685 638 651 650 634 850 4,108 $750 7 Paul Dent Open 699 697 710 592 654 649 4,001 $700 8 Michael Clarke Open 669 782 631 614 683 617 3,996 $650 9 Matthew Fried Open 763 698 530 544 763 617 3,915 $600 10 Harry Gross U-25 586 1000 527 585 500 624 3,822 $550

Microsoft Excel World Championship (MEWC)

2021 The MEWC began in 2021 as the FMWC Open, an Excel Esports tournament. The competition was a standalone event that did not impact the Financial Modeling World Cup rankings in regular seasons.

The tournament began with a qualification round, with the top 128 qualifiers advancing to a single elimination tournament.

Qualification rounds began on November 13, and continued into December. The last three rounds of the FMWC Open competition were held on December 11, 2021, and were broadcast on the FMWC YouTube channel and ESPN3. Andrew Ngai (now representing Australia), Anup Agarwal (India), and Michael Jarman (Canada) returned as quarterfinals qualifiers, and Harry Gross from the UK, Jason Moore from the US, Joseph Palisoc from the US, Sameer Jagetia from the US, and Tim Roberts from the UK also qualified. The final round, entitled "Knights and Warriors", had contestants, each representing a fictional nation, send fictional warriors to conquer each other. Ngai defeated Jarman 734–280, with a maximum of 1,000 points per side.

2022 The FMWC Open was rebranded as the Microsoft Excel World Championship (MEWC). Like its predecessor, it also consisted of a qualification round and the top 128 qualifiers advancing to a single elimination tournament.

Qualification results (Top 50) In total, 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC rankings were prequalified. Rank Name Total points Time 1 Willem Gerritsen 5,000 00:36:50 2 Michael Clarke 5,000 00:46:59 3 Michael Holmes 5,000 00:51:01 4 Brian Hanley 5,000 00:51:28 5 Alfons Oliver Altes 5,000 00:52:23 6 Justin Merson 5,000 00:54:51 7 Brittany Deaton 5,000 00:54:57 8 Jason Webber 5,000 00:55:02 9 Eduardo Gonazales Arias 5,000 00:55:32 10 Peter Rebecchi 5,000 00:55:57 11 David Brown 5,000 00:56:49 12 Stefanus Ng 5,000 00:59:28 13 Diarmuid Early 4,800 00:25:14 14 Paul Dent 4,600 00:50:55 15 Nicolas Micot 4,600 00:52:31 16 Nick McCartney 4,600 00:54:55 17 Lianna Gerrish 4,600 00:57:34 18 Bram Van Eeckhout 4,600 00:58:14 19 Matthew Fried 4,550 00:50:17 20 Isaac Mendez Cortinas 4,400 00:56:5521 Emad Oughourli4,30000:59:1822 Tom Vincent4,30001:00:0023 Michael Thanasides4,30001:00:0024 Dhara Shah4,20000:59:2825 Ben Gutscher4,10000:43:0626 Toby Funston4,05000:59:5927 David Rosel4,00000:45:3828 Dan Seiders4,00000:56:4029 Albert Blom4,00000:57:3130 Harry Seiders4,00000:57:3131 Taylor Robinson4,00000:58:2332 Mary Brown4,00000:58:2333 Patrick Chatain4,00000:58:4334 Aleksandrs Goba4,00000:59:0035 Ricardo Domínguez4,00000:59:0936 Grigoriy Korkishko4,00000:59:2837 Zsolt Mogyorósi4,00000:59:4938 Joseph Michael Palisoc4,00000:59:5239 Luke Moraga4,00001:00:0040 Nick Lowman3,97500:59:0141 Jaq Kennedy3,87500:59:4842 Khaled Habib3,80000:59:3643 Ben deLeon3,80000:59:3944 Jakub Pomykalski3,80000:59:5045 Pierre Sertin3,67500:59:5046 Steyn Wolmarans3,60000:49:0447 Bob Schriver3,60000:52:2248 Christian Hueber3,60000:54:1949 Jason Naniong3,60000:57:5150 Ryan Bains3,60000:58:01

Bracket

2023 The MEWC continued in 2023 with a modified format, the Qualification round was split into nine events, called "Road to Las Vegas" and one Qualification Round. However the 128 final-participants will still be competing in a 1v1 grid. The final of the top 8 will be hosted in Las Vegas.

Qualification results (Top 50) In total, 377 people took part and 128 qualified for the final round. The best ranked participants of the FMWC ranking, were prequalified. Rank Name Total points Time 1 Brittany Deaton 10000 00:46:24 2 Nicolas Micot 9915 00:46:45 3 Lorenzo Foti 9715 00:53:52 4 Peter Scharl 9115 00:53:41 5 Jason Hutcheson 8830 00:58:19 6 Adam Carter 8500 00:57:59 7 Katelyn Stienen 9315 01:00:00 8 Elliott Paterson 8200 00:58:07 9 Jacob Andrews 8200 01:00:00 10 Kyle Sutton 8000 00:57:13 11 Johnny Valeriote 8000 00:57:57 12 Michael Holmes 8000 00:58:32 13 Christophe Belin 7915 00:56:28 14 Kenneth Wang 7915 00:59:53 15 Jeremy Freelove 7850 01:00:00 16 Alfons Oliver Altes 7700 00:55:16 17 Jesi Lipp 7650 00:56:05 18 Princess Camille Ong 7600 00:59:00 19 Harry Seiders 7600 00:59:04 20 Pakkapong Sricharoen 7600 00:59:22 21 Ben Pridmore 7565 00:51:35 22 Ben deLeon 7515 00:55:25 23 Sharon Parker 7480 01:00:00 24 Harry Watson 7415 01:00:00 25 Lyanne van Dijk 7410 00:57:52 26 Alwyn Birkholtz 7335 00:49:28 27 Shaun McCarthy 7315 00:59:45 28 Matt Ficarra 7245 00:59:50 29 James Galbraith 7220 00:56:17 30 Will Demere 7215 00:59:40 31 Riley Flischel 7150 00:57:55 32 Steve Schulz 7150 01:00:00 33 Judith Droogsma 6785 00:52:50 34 Charles Poulain 6715 01:00:00 35 Nick Boberg 6700 00:59:01 36 James Blackham 6635 00:58:49 37 Martijn Adriaanse 6485 00:59:34 38 Matt Melsen 6435 00:58:54 39 Oliver Lambert 6415 00:59:34 40 Sergio Trifiletti 6415 00:59:49 41 Ricardo Dominguez 6405 00:59:57 42 Kristain Lindemann 6400 00:59:40 43 Brandon Moyer 6400 01:00:00 44 Grigoriy Korkishko 6345 00:59:18 45 Prithviraj Mavani 6300 01:00:00 46 Andrew Heybruch 6250 01:00:00 47 Zsolt Mogyorósi 6215 00:59:39 48 Jakub Pomykalski 6200 00:58:45 49 Jason Webber 6200 00:59:40 50 Juan Cifuentes 6200 00:59:55

Bracket The 2023 edition had a different format for the last three rounds. The knockout format was used for the first four rounds. The eight participants that won their Round of 16 match qualified for the in-person Finals in Las Vegas, where 8 more players would join them in a last-chance qualification round.

Section 1

Section 2

Section 3

Section 4

Section 5

Section 6

Section 7

Section 8

2024 The structure for the 2024 Microsoft Excel World Championship was revamped in several areas, including for the qualification round. The number of players in the main event remained at 128. Qualification for the MEWC was as follows: 50 players, 5 in each of the 10 Excel Esports Battes (called the "Road to Las Vegas"). One player would qualify from the YouTube livestream, while four others would qualify from online participation. 16 players from the Financial Modeling World Cup. 60 players from the MEWC online qualification round. 2 wildcards.

Qualification results The following participants qualified for the event: