This study investigates the association between stressful life events (SLE) and common mental disorders (CMD) among university employees in Rio de Janeiro, Brazil. Phase 1 sectional data from a cohort study (the Pro-Saude Study) were collected among 4,030 participants. A standardized self-administered questionnaire (General Health Questionnaire) assessed the presence of CMD during the previous two weeks, the occurrence of SLE in the previous 12 months, and socio-demographic characteristics. After adjustment for gender, age, income, and marital status, severe financial problems were associated with the greatest risk of CMD (OR = 2.6; 95%CI: 2.2-3.0), followed by physical aggression (OR = 2.1; 95%CI: 1.5-2.8), disruption of a love relationship (OR = 1.9; 95%CI: 1.6-2.3), forced change of residence (OR = 1.9; 95%CI: 1.5-2.4), serious disease (OR = 1.8; 95%CI: 1.5-2.1), hold-up or theft (OR = 1.5; 95%CI: 1.2-1.8), and hospitalization (OR = 1.4; 95%CI: 1.1-1.8). Results suggest that long-term effects of SLE should be investigated, as well as other potential modifying factors in the development and maintenance of CMD in order to support more effective mental health interventions.