source: Luxembourg for Finance
The Master in International Finance (MiF) program at Luxembourg School of Business (LSB) is a 2-year full-time Master-level degree (120 ECTS) accredited by the Ministry of Research and Higher-Education of the Grand-Duchy of Luxembourg.
First intake is September 2025.
What sets Master in International Finance at Luxembourg School of Business apart:
- Impactful Learning with Real-World Application:
- The MiF program at LSB goes beyond theoretical knowledge. It culminates in a mandatory 6-month internship, either in Luxembourg or internationally as well as a Master Thesis, allowing students to apply their learning in real-world finance setting. This approach ensures that students don’t just learn about finance; they actively participate and make an impact in the field.
- Connections with the industry:
- The program offers a robust theoretical grounding in finance, paired with frequent opportunities to connect this learning with practical applications through regular interactions with key industry stakeholders. This blend of theory and practice enhances the educational experience, making it more relevant and effective for students.
- International and Inclusive Educational Environment:
- LSB is situated in one of the most open and international settings, providing students with an inclusive learning environment. This global context fosters diverse perspectives and enhances the learning experience, preparing students for a career in the international finance arena.
- Outstanding Career Prospects and Support:
- With the dedicated support of the LSB Career Centre, students enjoy excellent career prospects post-graduation. The Centre’s services ensure that students are well-prepared for employment, contributing to full student employment following the completion of their degree.
As a jurisdiction at the forefront of climate finance and sustainable finance, Luxembourg hosts the first and the largest Green Stock Exchange and the European Investment Bank (world’s largest multilateral financial institution).
As of 2023, Luxembourg hosts 120+ banks from 25 different countries* and investment funds headquartered in Luxembourg amount to around €5.2 trillion**, making it Europe’s largest fund centre, and the second largest worldwide after the United States. (source: lff.lu).
LSB as Luxembourg’s business school leverages its industry and public sector partnerships to help place students in a truly unique position to learn and contribute to innovations in finance.
In the third semester of the Master in International Finance program at Luxembourg School of Business, students have the opportunity to tailor their learning experience with specialized electives in Corporate Finance or Capital Markets.
The Corporate Finance track delves into strategic financial management, mergers and acquisitions, and financial restructuring.
In contrast, the Capital Markets track focuses on equity and debt markets, derivatives, and investment strategies.
Both tracks are underpinned by courses in sustainable and climate finance, reflecting the growing importance of environmental considerations in the financial sector.
The MiF curriculum has an optional Employability Module which prepares students specifically for their careers. The Employability Module was designed to help the students perform at their best during their internships and smoothly integrate their professional careers following their studies.
While Luxembourg stands as a premier international financial hub, the Master in International Finance program at Luxembourg School of Business believes in broadening our students’ horizons beyond local borders. Our program includes organized study trips to other leading global financial centers.
These excursions are an important part of the learning experience, designed to provide students with a firsthand understanding of how different financial centers cultivate their unique specialties and strengths. Through visits to cities renowned for their financial influence, students will gain invaluable insights into the diverse facets and operations of global finance, enriching their perspective and enhancing their understanding of international financial dynamics.
Master in International Finance curriculum is designed to open the doors to the world of finance to students from all academic backgrounds. Admitted students may be required to take additional quantitative classes to improve their level of math and statistics before the start of the program.
The curriculum has a formal component and an informal one. On top of the required courses, students will be offered different courses and initiatives to help them prepare for their careers. They will be allowed to participate in the 1-month long Employability Module which they can take together with LSB Master in Management students.
The Coursework is divided into three Semesters, and each Semester is divided into two Modules, for a total of six Modules.
Each module is made of 2 to 3 weeks of Face-to-Face teaching, midterm exams, other 2 to 3 weeks of Face-to-Face teaching, followed by a study period and final examinations.
Students can participate in the optional Employability Module together, which may be carried out together with LSB Master in Management students.
To graduate, students have to carry out both a Master’s Thesis and a 6-month full-time Internship.
Students enrolled in September 2024 have Graduate in September 2026.
Additionally, there is a month-long Employability module, and a six-month internship. After, or before the internship – the students are required to complete their Master’s Thesis.
The 1st academic year consists of four modules each containing 15 ECTS.
BUSINESS BOOTCAMP (6 ECTS) (optional module, that will be obligatory for some students on the basis of their prior studies). Bootcamp consists of:
- Business Mathematics (3 ECTS)
- Statistics (3 ECTS)
SEMESTER 1
Module 1 (15 ECTS)
- Macroeconomics (4 ECTS)
- Principles of Finance (4 ECTS)
- Financial Accounting, Analysis & Reporting (4 ECTS)
- Quantitative Methods & Econometrics (3 ECTS)
- Foreign Languages (0.5 ECTS)
Module 2 (15 ECTS)
- Corporate Finance – Corporate Valuation 1 (4 ECTS)
- Capital Markets: Equity, Fixed Income and Credit Risk (4 ECTS)
- Managerial Finance & Budgeting (4 ECTS)
- Data analytics and AI in Finance (3 ECTS)
- Foreign Languages (0.5 ECTS)
SEMESTER 2
Module 3 (15 ECTS)
- Advanced Modelling – Corporate Valuation 2 (4 ECTS)
- Risk Management and Derivatives (4 ECTS)
- Investment Banking (4 ECTS)
- Ethics & Corporate Social Responsibility (3 ECTS)
- Foreign Languages (0.5 ECTS)
Module 4 (15 ECTS)
- Academic Writing (4 ECTS)
- Sustainable Finance (3 ECTS)
-
Personal Finance & Wealth Management (4 ECTS)
- Research Methods (4 ECTS)
- Foreign Languages (0.5 ECTS)
Modules 5 & 6 (30 ECTS)
In modules 5 & 6, the students are offered a wide range of electives for a total of 30 ECTS.
In the third semester of the Master in International Finance program at Luxembourg School of Business, students have the opportunity to tailor their learning experience with specialized electives in Corporate Finance or Capital Markets.
The Corporate Finance specialization delves into strategic financial management, mergers and acquisitions, and financial restructuring.
In contrast, the Capital Markets specialization focuses on equity and debt markets, derivatives, and investment strategies.
Both specializations are underpinned by courses in sustainable and climate finance, reflecting the growing importance of environmental considerations in the financial sector.
A non-exhaustive list of electives we plan to offer:
- Advanced Derivatives
- Artificial Intelligence in Finance (Advanced)
- Asset Management & Portfolio Management
- Behavioral Finance
- Business Law
- Finance in Emerging Markets
- Financial Controlling
- Fund Management
- Infrastructure Markets & Project Finance
- International Taxation
- M&A (Mergers & Acquisitions)
- Private Equity and Venture Capital
- Real Estate and Alternative Investments
- Trading and Brokerage
- Treasury Management
At the end of the 6 modules, the students must do an internship and complete the Master thesis.
The successful completion of the Master’s thesis will be awarded with 12 ECTS.
The internship carries 25 ECTS and needs to be concluded with an internship report.
The internship as well as the internship report are governed by LSB’s policy and guidelines on internships.
Our students choose LSB and Luxembourg with a clear vision to enhance their lives and kickstart ambitious international careers. They are trailblazers, ready to navigate the complexities of global finance.
At Luxembourg School of Business, we are on the lookout for exceptional candidates for our Master in International Finance (MiF) program. Ideal MiF students are those who embody a blend of drive and curiosity.
Our student body is extremely diverse – reflecting Luxembourg population in general. LSB welcomes individuals from various international backgrounds and different walks of life.
Throughout their journey at LSB, students receive comprehensive support from our Career Centre, assisting them in planning their internships and future careers.
An undergraduate degree (Bachelor degree or equivalent) from a recognized college or university with a minimum of 180 ECTS in any field of study* (engineering, social sciences, sciences, business, economics, arts, etc.) is required to enrol in the Master in International Finance at LSB.
*For students without previous coursework in courses like e.g. Statistics, Mathematics and Research Methods, these additional courses will be completed during the first year of the program parallelly to the other regular courses.
*If the Admissions Committee is not able to ascertain the academic transcripts or diploma of the candidate, LSB reserves the right to ask this candidate for a Recognition of Diploma delivered by the Ministry of Higher Education of Luxembourg.
Fluency in English
- If you have worked in an English speaking environment for at least 2 years, please provide a recommendation letter from your superior.
- If you are a native English speaker, or you have received a university degree exclusively taught in English, you do not need to submit proof of English proficiency. The transcripts are sufficient.
- If you are not a native English speaker, please provide proof of English proficiency: Transcript of your TOEFL Score (Minimum Requirement: Paper Based: 550, Internet Based: 85) or IELTS Score (Minimum Requirement: 6.5) – B2 Level.
Students who receive an admission offer and sign the study agreement will be asked to confirm their seats within 2 weeks with a non-refundable deposit of €5,000, deducted from their total tuition fees.
- For Students who do not need a Visa or Authorization to Stay in Luxembourg, the Master in International Finance program tuition fee is set at EUR 14,600 per year. The combined total for the two-year program will be EUR 29,200.
- For Students who need a Visa or Authorization to Stay in Luxembourg, the Master in International Finance program tuition fee is set at EUR 16,600 per year. The combined total for the two-year program will be EUR 33,200.
For more information about visas and authorization to stay (ATS) in Luxembourg, please consult our dedicated page.
There are a number of ways to finance your studies at Luxembourg School of Business. Here is the general overview of tools and instruments available:
- Luxembourg State Scholarships and loans (for Luxembourg residents and students whose parents work in Luxembourg only)
- LSB Merit based scholarship
It is also important to note that the last semester of the MiF program consists of a mandatory paid internship. Therefore the student starts earning a salary already during their studies.
LSB Career Centre actively works in the interest of LSB students to assure they get the best conditions for their internships.
Luxembourg State Scholarships
The Luxembourg State can grant scholarships for students in higher or university education as well as loans.
The Luxembourgish state provides scholarships and a student loan to anyone enrolled in higher education and fulfilling certain conditions.
Application deadlines
- August 1 to November 30 (winter semester)
- January 1 to April 30 (summer semester)
Scholarships available at the Ministry of Higher Education and Research
- Base scholarship
- Social scholarship
- Family scholarship
- Mobility scholarship
- Reimbursement of registration fees
These scholarships can be cumulated.
Future students can contact the two departments “Information études supérieures” and “Aides financières” of the Ministry of Higher Education and Research. These two departments have one common website, www.mengstudien.lu.
Students are welcome to reach them by phone: 247-88650 or email: aide-fi@mesr.etat.lu
A limited number of scholarships are available from Luxembourg School of Business.
Students can apply for the scholarship only after completing the whole application process on our website, submitting your documents and paying the 100 euros fees. The Scholarship can cover up from 5% to 50% of the tuition fees.
Scholarship criteria are based on evidence of potential success in the MiF program, based on
- Outstanding Academic record
- References from university / professors
- Letter of motivation
- Financial need (the financial need aspect will be judged based on the student’s parents’ annual revenue proof)
Scholarships are very limited and are given only to outstanding candidates.
Study Abroad
There is a strong chance that you will have an international component in your career – whether it is working in another country, traveling significantly for work, having co-workers from all over the world, or being a member of a cross-cultural virtual team.
Today, international mobility has great value and is much appreciated by the corporate world, especially in Luxembourg. Moreover, students and their families are more and more conscious of the advantages of studying abroad. Studying abroad helps students develop personally, professionally, and academically.
By gaining new transferable skills, students will boost their employability, broaden their horizons, develop cultural awareness, and open-mindedness.
During the Master in Management, students will be able to participate in an exchange program with partner universities or business schools. These Erasmus and Exchange programs will not require extra tuition fees.
Students will pay the usual tuition at Luxembourg School of Business and no other additional academic fees in the host university abroad are required. LSB International Office assists students with international mobility and helps them source funding for the time spent abroad and manages the institutional relationships between LSB and its partner universities.
Luxembourg School of Business is part of ERASMUS, the world’s most successful student exchange program.
Through exchanges, students expand their language skills and acquire knowledge – such as adaptability improving their employability, which is at the Core of LSB Master in Management objective.
LSB is the 5th School in Luxembourg to hold the Erasmus Charter which allows Master in Management students to study one or two semesters abroad.
ESN is the local Erasmus Student Network of Luxembourg. It is an independent, non-partisan, non-political, and non-profit, international association. Their aim is to help International students get together and experience local student life by hosting a wide range of activities and events. It is a great way to meet people and discover Luxembourg! Find out more information about ESN here.
List of Erasmus partnerships
- HHL Leipzig Graduate School of Management – Germany
- Frankfurt School of Finance and Management – Germany
- Zagreb School of Economics and Management – Croatia
- Umeå School of Business, Economics and Statistics – Sweden
- Università Cattolica del Sacro Cuore – Italy
- ISC Paris – France
- Excelia Group – France
- ISM University of Management and Economics – Lithuania
- Centro Universitario EDEM – Spain
- Institut Mines-Telecom Business School (IMT-BS) – France
List of International partnerships
- Université Saint-Joseph de Beyrouth – Lebanon
- IPADE – Mexico
- Ajman University – United Arab Emirates
- Hong-Kong Polytechnic University
- Nagoya University of Commerce & Business – Japan
- Caucasus University – Tbilisi, Georgia
- Université du Québec à Montréal – Canada
- SolBridge International School of Business – Daejeon, South Korea
- Jiangxi University of Finance and Economics – China
- Universidad de los Andes – Santiago, Chile
- Universidad Panamericana – Mexico City, Mexico
Learn more on Erasmus
Erasmus Charter for Higher Education
Competition KA131 2022/2023
Results
- Erasmus Results for student’s exchange and internship
- Erasmus Results for staff’s exchange
- Erasmus+ Charter for Students
- Erasmus+ European Commission Website
- Website of the National Agency Anefore
Information regarding European Partner schools and universities will be communicated to Students during the program.
For more informations regarding Incoming and Outgoing Students, please contact LSB International Office student.services@luxsb.lu
Before your arrival at Luxembourg School of Business
- Entry Requirements for EU citizens
If you are a citizen of an EU Member State (or Iceland, Liechtenstein, Norway or Switzerland), you do not need a visa or authorization to stay for your studies at Luxembourg School of Business.
To enter Luxembourg and enroll at LSB you need:
- ID or passport
- health insurance (covering the entire period of your study exchange). More information below
- Entry Requirements for NON EU citizens
A. Authorisation to Stay (ATS)
You have to apply for the Temporary authorisation to stay (ATS) immediately after receiving the Letter of Admission from LSB
! IMPORTANT ! Instructions for the ATS application
The process to obtain ATS may take several weeks, it is therefore crucial that you meet the deadline for ATS application. In case you do not submit your ATS application before deadline, you will no longer be considered for a student at Luxembourg School of Business
B. Visa
Visa requirements are depending on your country of citizenship. Check whether you have to obtain a visa to enter the Schengen area.
List of countries for whom visa IS NOT mandatory
List of countries for whom visa IS mandatory
Request a type D visa after you obtain the temporary authorisation to stay.
If the third-country national is subject to the visa requirement, he must, with his authorization to stay, submit before his trip and from his country of origin, an application for a type D visa to the diplomatic representation or consular office of Luxembourg in its country of origin, or with the embassy or consulate of the country in the Schengen Area which represents Luxembourg there in matters of visa delivery (Belgian embassy or consulate only).
On your arrival to LSB, you have to provide a proof of your health insurance for the entire period of your study exchange.
You have the following options:
a) provide a valid European Health Insurance Card (EHIC)
b) provide a confirmation of a private health insurance within Europe that specifies the beginning and the end date of coverage. Documents from outside Europe will not be accepted in Luxembourg.
c) pay for Luxembourg national health insurance on their arrival to Luxembourg School of Business (see below) and benefit from the Student fees which are the most advantageous.
National health insurance in Luxembourg:
In case you do not have a health insurance on your arrival, you have the possibility to pay for the health insurance directly at LSB. You will be affiliated to the national “Centre commun de sécurité sociale » and you will be required to pay the health insurance fees for the whole year.
Bear in mind that if you are NOT covered by any health insurance valid in Europe, you will not be reimbursed in case of illness or hospitalization. All medical cost would be at your own expense.
Luxembourg School of Business is in partnership with ING Bank, to allow you to easily open a bank account in Luxembourg. ING also provide a lot of information for people who just arrived in Luxembourg, to welcome them and help them with their administrative procedures.
You can view here a Welcome to Luxembourg Brochure.
ING also offers a Students Package, which allows you to:
- Open a free current account
- Open a free savings account
- Get advice with your rental deposit, in case you want to rent a flat or a house
- Use a free e-banking application
- Get a free V PAY or Visa CyberCard
Discover more information about the Students Package here.
Start your Career in Luxembourg!
Mara from Luxembourg
MiM – Class of 2024
Student
I am very satisfied with the program’s content and the opportunities it offers. The professors and staff have always been very responsive to all questions and feedback.
Enrico from Italy
MiM – Class of 2024
Student
I believe this program will give me the chance to put directly in practice every concept the students learned in class and put my skills at a higher level, allowing me to successfully begin my professional career.
Ana from Panama
MiM – Class of 2024
Student
I could not be more excited to have made LSB as my choice to study abroad. Professors are knowledgeable, campus facilities top-notch and a vibrant learning environment. Truly a 5 star institution!
LSB Faculty – leaders in academia and business
Lecturer, Luxembourg School of Business
Dean, Luxembourg School of Business
Corporate Finance Lecturer
Lecturer, Luxembourg School of Business
How to Apply?
Start your Master in International Finance application process here and join the program in September. One of our Admission Manager will be in touch with you shortly and support you through the process.
Express Interest
Pre-apply to initiate the admissions process. Once you fill out the pre-application, our admissions team will contact you and provide assistance if necessary with the next steps.
Early-bird Deadline: 15th of May 2025
Gather Documentation
Gather your documentation and submit the full application form. You will need to pay the EUR 100 application fee during the submission of your application form.
Upon the initial screening, based on academic success, select candidates will be invited for two rounds of interviews.
Final application deadline: 30th of June 2025
Admission Decision
Admissions decision is sent to the candidate.
Upon accepting the admissions letter, the candidates are required to sign the study agreement and pay the non-refundable EUR 5,000 deposit which is deducted from the tuition fees of the 1st academic year.
Once the admissions process is complete, for non-EU candidates the visa process starts. Candidates are supported by the Student Services team.
