The Master of Science in Banking and Finance is the flagship programme of the Luxembourg School of Finance. It offers a comprehensive curriculum encompassing both classic and more recent areas of the finance discipline as well as the principal functions of banking.
The cross-functional curriculum provides a dynamic framework of analytical skills and intellectual tools, providing an integrated approach to solving complex banking and financial problems.
In addition to a broad range of core courses, students may select one of two streams representing mainstream areas in which they can obtain a deeper knowledge.
Students study with the School’s permanent faculty. The diverse faculty, which maintain close ties to the Luxembourg banking and financial community, engage in leading research and advance banking and financial knowledge and practices on many fronts including market valuation of financial instruments, risk management and behavioral finance. In addition, a roster of invited professors from renowned finance faculties of other universities teach selected courses.
The programme is ideally suited to students seeking a career in corporate finance, asset and wealth management, banking and related fields.
The programme is offered in both full-time and part-time formats with a start in the autumn.
The full-time programme begins in October and finishes in June of every year, followed by an obligatory internship.
The part-time programme begins in September. Classes are generally held on Fridays and Saturdays (full days) twice per month during semester periods.
The MSc in Banking and Finance is a post-graduate degree offered by the Luxembourg School of Finance of the Faculty of Law, Economics and Finance.
The Master of Science in Banking and Finance curriculum comprises 60 ECTS and 500 lecture hours, in addition to field work or a possible Master’s Thesis. It is structured in five components: Core courses, Stream courses, Elective courses, an academic week-in-residence, and an internship or possible Master’s Thesis.
Core courses are obligatory and encompass both foundation and advanced fields of finance and banking.
They are organised into four modules: Foundation, Finance, Advanced finance, Accounting, governance and ethics.
Students must select one stream; courses from the chosen stream are obligatory. The programme contains two streams - Banking and Investment Management - containing courses that provide opportunity for more specialised study.
Students must select one elective course from a broad range of available elective courses. Elective courses comprise all stream courses, allowing students to follow a course not in their selected stream. Alternatively, students may choose from two other elective courses offered.
As an integral part of the programme, students are required to attend an academic week-in-residence. The week involves lectures from renowned faculty on specific advanced topics in finance. The location of the Academic week- in residence is to be determined.
Internship or Master’s Thesis
As an integral part of the programme, full-time students are required to perform an internship for a period not less than 12 weeks. Students are free to seek the internship that suits their interests and objectives, provided that the nature of the internship is in relation to banking or finance.
The LSF provide assistance in finding an internship with a bank or non-bank financial services company of the Luxembourg financial centre. Typically a wide variety of internships representing a range of different business activities in the financial centre are available.
Part-time students are required to present a Master’s Thesis on a subject of their related to banking or finance. The subject must be approved by the advising faculty member. Alternatively, students can choose to take three additional courses in lieu of a Master Thesis.
The full-time format requires a full 12 months of full-time study (including an internship period of 12 weeks). It is not suitable for those will full or half-time jobs or other similar commitments.
The academic year starts in early October and finished in early June. Normally the internship will take place from June to September, although this can vary. Classes are held in full- or half-day sessions, typically three full days per week. Due to exams, university and school holidays, events and other factors, not all weeks will have classes.
Full-time students are required to attend the academic week-in-residence, typically held during the second week of September of their second year. It is important that internship companies are advised of this at the start of the internship.
Full-time students have typically recently completed a Bachelor’s or Master’s I programme and may have had a few years’ work experience. However, there are also students who have several or even many years’ professional experience, who decide to take a year off for full-time study to obtain their MSc in Banking and Finance.
The full-time class is very international, typically comprising students from all or almost all continents and a great variety of regions. This richness of diversity and background adds greatly to the interest of the programme. Class sizes typically do not exceed 35 students. For a small number of courses involving some adjunct professors, class sizes may be up to 60.
For non-EU/EEA students, in addition to the internship, Luxembourg law provides for the provision of a work-permit after graduation for a period of two years, in an area related to the degree obtained.
The part-time format
The part-time format requires a 24 months of part-time study. It is therefore suitable for professionals seeking to study while continuing their career.
The programme begins in mid-September of each year. Classes in the first year are held in the months of September to December and then January to July. In the second year, classes are held in the months of September to December.
Classes take place in full- or half-day sessions Thursday, Friday and Saturday, or Friday and Saturday, every second week of months in which there are classes. Some months will have fewer classes due to exams, university and school holidays, events and other factors.
Part-time students are required to attend the academic week-in-residence typically held during the second week of September of their second year. It is therefore important that students make suitable arrangements with their employers for the necessary vacation time.
Part-time students are professionals, many from the Luxembourg financial sector, residing in Luxembourg or its greater region. In addition to their professional commitments, many students have families and other activities. The part-time class is very international and comprises students with a broad range of professional backgrounds, even within finance. This reflects the diversity of both the Luxembourg financial centre and its broader economic base, and adds to the interest of the programme.
Class sizes typically do not exceed 35 students. For a small number of courses involving some adjunct professors, class sizes may be up to 60. For non-EU/EEA students, enrolment in the part-time programme will not be accepted by the Luxembourg authorities as a basis for applying for a student visa.
As an integral part of the programme, full-time students are required to perform an internship for a period not less than 12 weeks. Students are free to seek the internship that suits their interests and objectives in banking or finance.
The Luxembourg School of Finance maintains contact with a wide range of companies for the purpose of securing internship positions for full-time students. As part of this effort, the LSF distributes a book with student CVs to companies interested in providing one or more internships to LSF students.
It is the student’s responsibility to find an internship position and the LSF will not engage in an internship search on behalf of students. However, the LSF will assist students in their search by providing its contacts, by orienting the students to companies that correspond to their area of interest, by contacting individual companies where there is a specific interest on the part of the student, and by providing guidance and information.
Most companies use the university’s standard internship contract. Some companies use their own internship contracts. Luxembourg law makes specific provisions for internships for university students and no formalities beyond the internship contract are required.
Non EU/EEA students are not subject to any additional requirements. A work permit for the internship is not required.
Part-time students are required to present a Master’s Thesis on a subject of their choice related to banking or finance. The subject must be approved by the advising faculty member. Students may also choose to replace the Master Thesis by taking three additional courses.
The Luxembourg School of Finance maintains contact with a wide range of companies for the purpose of promoting our graduating students potential permanent employees.
As part of this effort, the LSF distributes a book with student CVs to companies interested in recruiting an LSF graduate.
It is the student’s responsibility to find a permanent position after graduation, the LSF will not engage in a placement search on behalf of students. However, the LSF will assist students in their search by providing its contacts, by orienting the students to companies that correspond to their area of interest, by contacting individual companies where there is a specific interest on the part of the student, and by providing guidance and information.
Student and work visas
Non EU/EEA Students are advised to read carefully the contents of this section concerning application procedures and requirements for student visas, validating prior academic degrees and diplomas. In addition, some information is provided concerning the possibility of obtaining a work visa in Luxembourg after completion of the MSc in Banking and Finance.
Non EU/EEA students are advised to obtain complete information from the Luxembourg authorities and their consular offices, and to allow sufficient time for student visa application procedures to be completed. In particular, it is strongly recommended to :
- allow at least three months for completion of the visa application procedures and receipt of a student visa;
- consult local consular office of Luxembourg (or a consular office of another country representing Luxembourg for consular affairs) or other competent authority to obtain complete information regarding student visa application requirements;
- read carefully and follow the requirements specified in the University of Luxembourg’s web site under Admissions, concerning the validation of prior academic degrees and diplomas.
Non EU/EEA students having completed their MSc in Banking and Finance are entitled to obtain a Luxembourg work permit for a duration of maximum two years beginning in the period immediately following the completion of their degree. The procedure is not automatic, and must be the subject of a specific application, in which the student must present a work contract with a sponsoring employer. The work contract must be related to private banking.
The Master of Science in Banking and Finance seeks to attract highly dedicated candidates wishing to pursue a challenging career in the financial sector.
Candidates who meet the eligibility criteria will be selected on the basis of their past academic performance and a personal interview with the Managing Director of the programme.
Those wishing to apply should read carefully the admission procedures of the university.
Students with prior academic degrees from non EU/EEA countries should pay careful attention to the university’s admission procedure concerning recognition of non EU/EEA academic degrees and diplomas.
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Last updated September 28, 2017