The Wharton Global High School Investment Competition is an international competition that gives high school students hands-on experience in investment research and portfolio management.
This guide covers the competition schedule, eligibility and registration requirements, competition format, preparation strategies, team-building tips, common challenges, and other international economics and business competitions students may want to explore.
1. What Is the Wharton Investment Competition?
Wharton Global High School Investment Competition is organized by the Wharton Global Youth Program at the University of Pennsylvania. This portfolio management simulation gives high school students the opportunity to gain hands-on experience with the investment decision-making process.
Students participate in teams and develop an investment strategy based on a specific client scenario. Teams then research financial markets and investment opportunities, make portfolio allocation decisions, and manage their investments using virtual money.
Teams must understand their client’s goals, risk tolerance, and investment time horizon, build an appropriate portfolio, support their investment decisions with evidence, and adapt to changing market conditions. As a result, successful teams need to combine a range of skills, including investment knowledge, research, quantitative analysis, writing, teamwork, and communication.
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2. Wharton Investment Competition 2026–2027 Timeline
According to the current schedule for the 2026–2027 competition season, the Wharton Investment Competition includes the following key dates:
Dates | Details |
August 10, 2026 | Registration opens |
Seteptember 11, 2026 | Registration closes; all team members must have created their accounts by 5:00 p.m. ET |
September 15, 2026 | Team captains receive an invitation to SurveyMonkey Apply; competition details and guidelines are released |
September 28, 2026 | Competition begins; first trading day |
October 9, 2026 | Deadline to submit the official team roster by 5:00 p.m. ET |
November 6, 2026 | Deadline to submit the Investment Policy Statement (IPS) by 5:00 p.m. ET |
December 4, 2026 | Deadline to submit the final report and school verification materials by 5:00 p.m. ET |
TBD | Top 50 semifinalist teams announced |
TBD | Online Semifinals |
April 29–30, 2027 | Learning Day & Global Finale at the Wharton School in Philadelphia |
Additional dates and deadlines will be announced as the competition progresses..
One important point for students to keep in mind is that the competition does not simply begin with the final report deadline. Teams begin trading on September 28, 2026, and must complete several different components throughout the season. Students should therefore begin preparing early and divide responsibilities among team members so they can stay on track and meet the requirements at each stage of the competition.
3. How to Register for the Wharton Investment Competition
The competition is open to students currently enrolled in high school. Each team must consist of 4–6 students from the same high school, and each student may participate on only one team.
Eligibility Requirements
- Same School: All team members and the team advisor must be affiliated with the same school campus.
- Team Size: Each team must have 4–6 students throughout the competition.
- Team Captain: The student designated as the team captain must be at least 16 years old when the competition begins.
- Homeschool Students: Homeschooled students and students taught by private tutors may also participate, but they must meet additional requirements. Teams made up entirely of homeschooled students require prior approval.
Students should carefully review the official eligibility requirements before forming a team, particularly if they attend school through a non-traditional education arrangement.
Registration Requirements
Registration for the Wharton Global High School Investment Competition typically opens in early September each year. One important point to understand before registering is that students cannot register themselves. Registration must be completed by an eligible school advisor on behalf of the team.
Although students cannot register independently, they can prepare in advance by:
- Finding an eligible school advisor who is willing to oversee the team.
- Forming a team of 4–6 students from the same high school.
- Selecting a student team captain.
- Ensuring that each team member has a unique email address.
- Agreeing on each member’s roles and responsibilities before the competition begins.
Preparing this information in advance can help teams avoid registration issues and give students more time to focus on the investment component of the competition.
Key Registration Requirements
- The school advisor must register on behalf of the team, and each advisor may register only once.
- The advisor must be a teacher or educator at the same high school as the students on the team.
- The advisor and student team captain must use separate email addresses.
- Each advisor can create and manage up to five team accounts.
The Two-Step Registration Process
- Step 1 – Advisor Registration: The advisor creates an account and provides their contact information, school information, and the contact information of the school principal or head of school.
- Step 2 – Team Account Creation: After completing Step 1, the advisor will receive instructions for creating an account for the student team. The advisor can then create and manage their teams through the registration system.
Students should coordinate with their advisor before registration to confirm the final team roster and designated team captain.
4. How Does the Wharton Investment Competition Work?
The competition combines an online investment simulation with research and written submissions.
Teams use two main online platforms:
- SurveyMonkey Apply: This serves as the central hub for the competition. Teams receive the annual client case, competition updates, guidelines, and other materials through the platform. They also use it to submit the required competition materials.
- Wharton Investment Simulator (WInS): This is the platform where teams put their investment strategies into practice. Students use virtual money to buy and sell eligible assets and manage their portfolios throughout the competition.
The Wharton Investment Competition takes students through a series of research, investment, and reporting tasks. Rather than simply selecting stocks, teams must understand their client’s needs, develop an investment strategy, manage a virtual portfolio, and explain the reasoning behind their decisions.
Step 1– Form a Team and Register:Students first form a team and register for the competition with the support of a school advisor. Each team consists of 4–6 students from the same high school. Once registration is complete, teams receive the competition materials and guidelines through SurveyMonkey Apply.
Step 2 – Analyze the Client Case: Teams then review and analyze the competition’s annual client case. This is a critical first step because the goal is not simply to identify investments with the highest potential returns. Before building a portfolio, students need to understand the client’s investment objectives, risk tolerance, investment time horizon, and other requirements.
Step 3 – Conduct Research and Develop an Investment Strategy:Based on the client profile, teams conduct market research and develop an investment strategy. Students may analyze companies, industries, and different eligible asset classes while considering factors such as diversification, asset allocation, risk, and potential returns.
Step 4 – Manage the Virtual Portfolio: Teams then put their strategy into practice through the Wharton Investment Simulator (WInS). Using virtual funds, students buy and sell eligible assets and manage their portfolios throughout the trading period.
Throughout the competition, teams also work on their written submissions. The Investment Policy Statement (IPS) outlines the team’s overall investment strategy, while the Comprehensive Final Report explains the team’s research process, portfolio recommendations, investment decisions, and results.
Finally, the strongest teams advance to the semifinal round. The Top 50 teams are selected based on the quality of their Investment Policy Statement and Comprehensive Final Report, along with the required school verification materials.
5. Wharton Investment Competition Prizes and Recognition
Participating in the competition itself gives students an opportunity to earn formal recognition for their work. Students on eligible teams who complete all required submissions and meet the competition’s minimum requirements will receive a digital credential recognizing their achievement.
Teams that advance to the Semifinals and Global Finals will receive certificates recognizing their accomplishments.
For the Top 10 Global Finalist teams, each team member will receive a full tuition waiver for Wharton’s online Understanding Your Money course.
Members of the Global Champion team will receive an additional opportunity to participate free of charge in one of the following online summer programs:
- Future of the Business World
- Financial Decision Making
- Essentials of Leadership
- Moneyball FLEX
- Moneyball: Training Camp
The school represented by the Global Champion will also be allowed to advance one school team directly to the Semifinals in the following competition season, provided that the team meets all required submission criteria.
Members of the other 9 Global Finalist teams will receive a 50% tuition discount for selected online summer programs.
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6. How Should Students Prepare for the Wharton Investment Competition?
Students can begin preparing well before the competition officially starts. Effective preparation is not just about memorizing financial terminology. More importantly, students should develop the research, analytical, communication, and decision-making skills needed to build and defend an investment strategy.
Aralia recommends the following five-stage preparation process:
Stage 1: Build a Strong Foundation in Financial Knowledge
Before the competition begins, students should familiarize themselves with key concepts such as stocks and bonds, ETFs, diversification, risk and return, asset allocation, and portfolio management.
However, students should go beyond simply memorizing definitions. They should understand why these concepts matter when building an investment portfolio. For example, knowing the definition of diversification is less useful than understanding how holding investments with different risk characteristics can help manage overall portfolio risk.
Stage 2: Learn How to Research Companies
Investment research is one of the most important skills students can develop before the competition. Students should practice evaluating a company’s business model, growth potential, competitive advantages, financial performance, valuation, and key risks.
Students should also learn to distinguish between information and evidence. Simply reading a headline claiming that a company is “expected to grow” is not enough. Students need to examine the data behind the claim and determine whether the underlying evidence actually supports their investment thesis.
Stage 3: Practice Building an Investment Portfolio
Students should practice building portfolios based on a specific investor’s goals, investment time horizon, and risk tolerance rather than simply selecting individual investments. They should be able to explain why each investment belongs in the portfolio and what role it serves. This helps students think about investments as part of a broader strategy rather than as isolated choices.
Stage 4: Practice Writing an Investment Thesis
Investment decisions need to be communicated clearly and persuasively. A useful framework for students is:
Investment Thesis → Evidence → Risks → Expected Outcome → Client Fit
For example, instead of writing, “We selected Company X because it is a strong technology company,” students should develop a more specific argument supported by evidence. A strong investment thesis might explain the company’s growth opportunity, competitive position, valuation, and key risks, while also showing why these characteristics make the investment appropriate for the client.
Stage 5: Practice Defending Investment Decisions
Students need more than the ability to write about their investment decisions, but they also need to be able to explain and defend those decisions.
Teams should be prepared to answer questions such as:
- Why did you choose this investment?
- How did you determine its allocation within the portfolio?
- What risks does the investment carry?
- What factors might cause you to change your strategy?
The ability to defend an investment decision with clear reasoning and supporting evidence is often more valuable than simply memorizing financial terminology. It demonstrates that students understand the reasoning behind their decisions and can adapt their strategy when circumstances change.
7. Is the Wharton Investment Competition Competitive?
The Wharton Investment Competition can be challenging for students because it requires them to apply multiple skills at once, not just investment knowledge, but also research, analysis, teamwork, communication, and time management.
One challenge is that students may need to learn financial concepts that go beyond the typical high school curriculum. They must quickly build their knowledge and apply it to an unfamiliar investment scenario.
The competition also requires students to make decisions under uncertainty, much like real-world investors. Markets do not always move as expected. Rather than trying to predict every market movement, students should focus on making well-reasoned, evidence-based decisions and adjusting their strategies as conditions change.
Teamwork is another important factor. Team members must divide responsibilities, discuss and challenge one another’s ideas, resolve disagreements, and work toward a unified investment strategy. A student who is a strong individual investor may not necessarily be an effective team member.
Students must also be able to explain and defend their investment decisions. It is not enough to simply show that an investment increased or decreased in value. Teams need to explain why they made the decision and what evidence supported it.
Finally, time management plays an important role. With multiple submission deadlines from September through December, followed by additional rounds of competition, teams should establish a consistent workflow from the beginning rather than relying on last-minute preparation.
8. How to Build a Strong Team for the Wharton Investment Competition
Because each team consists of 4–6 students, assigning responsibilities strategically can make collaboration more efficient and help the team make the most of each member’s strengths. One possible team structure is:
RoleP | rimary Responsibilities |
Team Leader | Coordinate the team, manage deadlines, and communicate with the competition organizers |
Investment Research | Research companies, industries, and market trends |
Quantitative Analyst | Analyze financial data and portfolio performance |
Strategy Lead | Connect research and analytical findings to the team’s overall investment strategy |
Writer/Presenter | Organize the team’s arguments and communicate them clearly |
A well-balanced team allows members to contribute different perspectives and strengths while working together to make informed investment decisions.
9. Other International Economics and Business Competitions
The Wharton Investment Competition is a standout option for high school students interested in finance and investing. However, it is not the only international competition available to students interested in economics and business. Depending on their interests and strengths, students can also explore competitions focused on entrepreneurship, business innovation, economics research, and academic writing.
Organized by Horn Entrepreneurship at the University of Delaware, the Diamond Challenge is an international entrepreneurship competition for high school students interested in business and innovation. Students develop a business idea or social impact venture and then present their projects to a panel of judges with experience in entrepreneurship and business.
Marshall Society Essay Competition
Organized by the Marshall Society at the University of Cambridge, the Marshall Society Essay Competition is designed for high school students interested in economics and academic writing. Rather than testing students through traditional exams, the competition asks participants to engage with academic sources, analyze existing economic arguments, and develop an independent, evidence-based perspective.
LSESU Economics Society Essay Competition
Organized by the Economics Society at the London School of Economics and Political Science (LSE), the LSESU Economics Society Essay Competition is open to students in Grades 9–12. Topics typically focus on contemporary economic issues and encourage students to apply economic models and concepts to real-world events rather than simply demonstrate theoretical knowledge.
Blue Ocean Student Entrepreneur Competition
The Blue Ocean Student Entrepreneur Competition focuses on developing and pitching innovative business ideas. High school students present their ideas to entrepreneurs, investors, and startup professionals while competing for cash prizes. The competition also gives students opportunities to learn from other young entrepreneurs and connect with the international startup community.
The Wharton Global High School Investment Competition offers high school students a valuable opportunity to explore finance and investing through a hands-on, team-based experience. Rather than simply picking stocks, students must understand their client’s goals, conduct research, build and manage a portfolio, and use clear, evidence-based reasoning to defend their decisions.
Ultimately, the greatest value of the competition goes beyond the final rankings. Students have the opportunity to develop financial literacy, analytical thinking, research, teamwork, and decision-making skills that can support them throughout their academic journey and future careers, whether they ultimately pursue finance, economics, business, or another field.
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Competitions such as the Diamond Challenge offer more than opportunities for academic recognition. They also encourage students to develop strategic thinking, leadership, problem-solving, and communication skills in an international setting.
With experience supporting students in international business and economics competitions, Aralia Education’s instructors can help students build the foundational knowledge and practical skills they need to approach these competitions with confidence and compete on the global stage.
LSESU Essay Competition Preparation
LSESU Essay Competition Preparation course is designed to equip students with the skills and knowledge needed to excel in this prestigious competition. Through a series of interactive lessons, expert guidance, and practical exercises, participants will develop a deep understanding of economic concepts and enhance their essay writing abilities.
