Vadim Monastyrsky studied piano in the class of Professor Teodor Gutman at the Gnessin State Musical College in Moscow. After graduating in 1970, while already a teacher himself, Monastyrsky continued his postgraduate studies with Gutman until 1973. Gutman also traveled to Ufa to consult with Monastyrsky as he prepared for the Liszt-Bartók competition.
While in Ufa, Monastyrsky and his classmate Igor Lavrov, who was also from Gutman's class, established a tradition of performing a large piano evening each year on November 11, their teacher's birthday.