On the corner of Rue du Plébiscite and Avenue de la Liberté, the L22 School of Business welcomed its first students on 3 October. There are twelve in the master's degree in finance and five in human resources (HR) as of 19 October, although these figures are changing rapidly.
Its aim is to “train for the jobs that will be recruiting by 2030” and to respond to the “talent shortage.” The master's degree in finance is aimed in particular at the professions of “asset management and investment funds with an emphasis on alternative and illiquid funds.”
Four days a week in a company
The courses are designed to be professionalising, with four days a week in a company and one in class. “All of them have already found an internship in finance,” added head of training Sophie Prévot and director Arnaud Scuderi. On the HR side, one person is waiting for a contract.
To supervise them, there are 15 teachers and professionals. Enrolment is still open, with no closing date. Each class can accommodate up to 16 students.
The school was founded by Julien Frighetto, Romain Zewe and Arnaud Scuderi, who are “recruitment and training professionals.” The Mewo campus in Metz also holds shares, according to the Trade and Companies Register.
Less than €10,000 per year
And the price? The school does not want to disclose it, but says it is “under €10,000 a year.” As it does not hold Luxembourgish certification, it is not eligible for grants. However, the students are paid between €1,200 and €2,000 net per month by the companies in which they do their work-study, which enables them to finance these costs, the director explained.
The private institution is also part of the Federation for Education in Europe and uses the ECTS credit system. However, the European Union warns that “there is no automatic recognition mechanism for university degrees at European level.”
A degree from a non-certified school does not prevent you from working in finance or HR in Luxembourg, but “from working for the state,” says the ministry of higher education. “There are quite a few public schools of which we are not aware.” This does not mean that they do not offer quality education, he said. But some of them may be for profit.
Target: 50 students by 2023
Luxembourg has the University of Luxembourg, three interdisciplinary centres, two foreign and private institutions, including the Luxembourg School of Business (LSB), two institutions awarding foreign diplomas and several high schools offering BTS (brevet de technicien supérieur).
In order to receive accreditation, it is necessary to present the origin of its financial means, the rules for recruiting staff, to submit its study programmes for evaluation or to conduct research activities. The criteria are detailed in the Grand Ducal Regulation of 24 August 2016, although a revision of the law is currently underway.
In any case, the L22 Business School is looking ahead and expects to have around fifty students in September 2023. It plans to open a bachelor’s degree in finance and to diversify its offer in “other fields where it is becoming extremely complex to recruit.” Applying for accreditation is also part of the plans.
This story was first published in French on Paperjam. It has been translated and edited for Delano.