Employment and jobs

Banking jobs in Luxembourg

We'll explore the key factors that influence salaries in banking sector in Luxembourg and cover the documentation and visa requirements for international professionals wishing to work in the country

Luz Castro
Luz Castro
Daria Saltykova
Daria Saltykova
Last time updated

Being one of the financial centers of Europe due to favorable taxation and the abundance of companies whose offices are located in the country, Luxembourg offers applicants many vacancies in the financial sector. In turn, the financial sector contributes to the country's economy. In just a decade, this sector boosted tax revenues by impressive 5.1% annually. More than the half of the financial sector growth comes from banking.

The overview of the financial sector in Luxembourg

A detailed report from Luxembourg for Finance and Deloitte shows how the financial sector benefits Luxembourg. Between 2011 and 2021, the sector witnessed a robust annual growth rate of 2.5%, culminating in 64,592 employees by the end of 2021, a significant increase from 49,985 in 2011. In 2021, for every job created in the financial sector, an additional 1.1 jobs were created across the broader economy. This ripple effect meant that, by the end of 2021, a total of 135,519 jobs in Luxembourg were connected to the financial sector, making up 29.5% of all jobs in the country.

135, 519 jobs
in financial sector and relevant to it have been created by the year 2021
annual increase in the decade marks the consistent growth of the added value
Financial sector is comprised of the various domains
Insurance and audit
Funds and banking
Consultancy services
Legal services
Main domain?

Among them the banking sector stands out. In 2021, it contributed a substantial 51.8% to the overall value added by the financial industry.

Education and skills necessary to work in the banking sector

Embarking on a career in banking in Luxembourg requires a strategic blend of education, professional skills and essential personal attributes. The role of a banker involves advising clients, overseeing banking transactions and playing a key role in managing clients' financial portfolios.

Another popular professional direction, commonly referred to as financial advisors, client relationship managers, or banking advisors cater to various clienteles, with job titles varying based on the client type (corporate, private, and more).

How to become a financial sector professional?

To step into the world of banking, a foundational education in finance ranging from a minimum of a bachelor's degree (Bac +2) to advanced degrees (Bac +4 and Bac +5) is imperative.

Short studies (Bac +2)
Intermediate studies (Bac +3)
Extended studies (Bac +4 and Bac +5)
In addition to educational qualifications, certain soft skills are essential for success in the banking sector
Building and maintaining strong client relationships is crucial for succsess
Good math skills
Comfort with numbers and financial analysis is a fundamental skill
Selling financial products and services requires skills of negotiation
Organizational skills
A job demands adherence to methodologies and planning

What kind of banking jobs are available in Luxembourg?

Luxembourg's banking sector presents a vast array of professional opportunities for both recent university graduates and seasoned professionals. Given the sector's significant presence in Luxembourg, job seekers can explore employment possibilities across various domains within the banking industry.

Top-10 popular banking jobs in Luxembourg

Client Relationship Manager
They play a crucial role in client interaction, promoting and selling banking products such as account openings, investments, loans, savings, and credit cards. Working either in branches or at headquarters, these professionals focus on client support, retention, and prospecting. Entry into this role is possible with a minimum of a Bac+2, and recruiters often prefer candidates with experience gained through apprenticeships.
Wealth Manager
Responsible for managing funds, whether for individuals or businesses, and strategically investing them in the stock market to enhance their value. With a goal to generate financial gains, wealth managers anticipate market movements and maintain close relationships with clients, keeping them informed about transactions and their financial portfolios. This role typically requires a Bac+5, such as a Master's in Wealth Management and Private Banking.
Financial Operationist
Working within investment and financing banks, these professionals design financial instruments for advising companies on operations like mergers and acquisitions, equity financing, or fundraising. Market operators specialize in placements and financial speculation.
KYC Specialist
KYC (Know Your Customer) analysts focus on thoroughly understanding clients initiating credit requests. Analyzing requests from individuals or entities, they assess creditworthiness, manage risks based on individual profiles, and provide well-founded decisions to the financial director for the final approval.
Credit and Banking Risks Analyst
These analysts evaluate credit requests from bank clients, deciding whether to grant the requested credit based on risk assessments aligned with the bank's commercial and financial strategy. They may also draft contractual documents and oversee insurance contracts related to the credits. A Master's degree in banking, finance, or economics is typically required for this role.
Economic Studies Officer
They are responsible for analyzing and forecasting market trends to guide and inform the strategic decisions of the bank's senior management. This involves a thorough examination of financial data, market movements, and economic indicators to ensure that the bank's leadership is provided with accurate and insightful information to make informed decisions regarding the bank's direction and strategy.
Fund Managers and UCITS
Employed by asset management companies, major banks, or insurance companies, fund managers handle the management of Collective Investment Undertakings in Transferable Securities (UCITS), such as Mutual Investment Funds (FCP) or Variable Capital Investment Companies (SICAV). Their mission is to optimize the investments of various securities to ensure the best financial return for their clients, whether individuals or institutions.
Back-Office Agents
Back-office managers handle administrative procedures to process client banking transactions. Their tasks vary based on specialties and may include procedures related to transaction orders. These operations encompass several phases such as verification, validation, settlement, and delivery.
Bank Accountant
Bank accountants are responsible for recording every financial movement made by a bank according to state-preferred standards. Following this operation, they should be able to prepare the financial statements of the institution, shared with administration, partners, and investors as necessary.
Branch Manager and Regional Manager
Directors of branches and regional managers play a pivotal role in defining the objectives of their respective branches or regions, implementing suitable strategies to achieve these objectives.
Show all

Where to find a job in the banking sector in Luxembourg?

If you're eager to explore job opportunities in Luxembourg's banking sector, questions like "Where can I find finance jobs in Luxembourg?" or specific inquiries such as "Where can I find private banking jobs in Luxembourg?" may arise. Fear not, as we'll address your queries by navigating prominent job portals, spotlighting key companies in Luxembourg actively recruiting in the financial sector, and shedding light on the landscape of independent work.

Luxembourg companies recruiting in the banking sector

Luxembourg's banking sector boasts numerous opportunities for professionals, with various esteemed institutions actively seeking talent. Here's a curated list of 10 prominent banking employers in Luxembourg, each providing a unique scope of financial services.

Banque Internationale À Luxembourg
BIL stands as one of the Grand Duchy's largest banks, offering retail, private, corporate, and institutional banking services. With approximately 2000 employees based at the Luxembourg City headquarters, BIL is a key player in the country's financial landscape.
Banque De Luxembourg
Founded in 1920, Banque De Luxembourg is a well-established institution specializing in private banking and wealth management services. It caters to high-net-worth individuals, families, and institutional investors, providing a range of investment solutions.
ING Luxembourg
Operating as a subsidiary of the global ING Group, one of the world's largest banks with over $1.1 trillion in assets, ING Luxembourg offers a comprehensive array of financial services, both for individuals, businesses, and institutions.
Dating back to the early 19th century, Spuerkeess is Luxembourg's national savings bank, owned by the state. As one of the top 20 employers in the Grand Duchy, Spuerkeess plays a pivotal role in Luxembourg's financial landscape.
Banque Raiffeisen
Rooted in the cooperative vision of Friedrich Wilhelm Raiffeisen and Hermann Schulze-Delitzsch, Banque Raiffeisen originated in Luxembourg in 1925. Evolving over the years, it streamlined into a network of 34 branches nationwide by 2019, emphasizing quality service and cooperative principles.
Degroof Petercam Luxembourg
Part of the largest private banking group in Belgium, Degroof Petercam has its roots in the merger between Banque Degroof and the brokerage firm Petercam. With its headquarters in Brussels, Degroof Petercam is a significant player in the financial landscape, offering diverse financial services.
Northern Trust
Headquartered in Chicago, it is a prominent American financial services company catering to corporations, institutional investors, and ultra-high-net-worth individuals. Operating in Luxembourg, it is one of the oldest banks in country, consistently recruiting professionals.
UBS Europe
Swiss financial services entity based in Zurich, recognized as one of the largest asset managers globally, UBS is part of the group of 29 banks classified by the Financial Stability Board as systemically important financial institutions. UBS actively recruits professionals in Luxembourg.
Nomura Bank Luxembourg
Leading global financial services group operating worldwide. With a significant presence in key markets globally, the group offers a comprehensive range of financial services. Nomura Bank (Luxembourg) S.A. is a subsidiary of Nomura Europe Holdings PLC, London.
Credit Suisse
Established in 1856, Credit Suisse is a prominent global wealth manager with robust capabilities in investment banking and asset management. With a presence in Luxembourg, Credit Suisse continually seeks talented professionals to contribute to its global operations.

Job portals offering vacancies in Luxembourg

To navigate the job market efficiently, the internet is your best ally, hosting numerous job portals with thousands of job listings. These platforms allow you to filter job offers based on your preferred sector, location, educational level, or required work experience.

International job search
Among the international portals are (the European Union's portal),,,,, and
Job platforms for Luxembourg
For local opportunities in Luxembourg, prominent portals include,,, and Each portal offers a unique set of opportunities, allowing you to tailor your job search to your preferences and career goals.

Freelance in banking

Working independently in the banking sector is uncommon due to the highly regulated and complex nature of financial services. Banking involves intricate transactions, compliance requirements, and risk management, making it challenging for freelancers to navigate without the infrastructure and support of a larger institution. Additionally, client trust and regulatory adherence are paramount in finance, often necessitating the credibility associated with established banks. 

However, freelancing in the banking realm could be an option for seasoned professionals with extensive industry experience, a robust client network, and specialized expertise. In niche areas like financial consulting or wealth management consulting where specific skills are in demand, freelancers may find opportunities to provide targeted services to clients seeking personalized financial advice.

Pros and cons of freelancing in banking sector
A lot of opportunities for personal growth and big clientele base in general
Financial consultancy and similar jobs without any salary ceiling imposed by company
Freedom of movement and no office hours if you decide this for yourself
Credibility only associated with your own personal image
Hard to find a job without prior experience of a name in the field
You still need an education in Finance, and sometimes it might impose some student debt, as the sphere is quite popular
Challenging to navigate profession without being involved with infrastructure of big banks in several domains

What else can you read on the topic of employment in Luxembourg?

You will find a variety of articles on the job search, career development and workplace culture in our dedicated section of the Blog. Check it out. 

Professions in-demand in Luxembourg
How to nail job interview in Luxembourg
Writing cover letter for work
Getting a job in Luxembourg
Unskilled jobs with sponsorship visa

Salaries of professionals in the banking sector in 2024

Attempting to specify salary ranges for certain areas reveals the wide variability caused by sub-branches, qualifications, and experience levels within each domain. While specific figures may vary, these ranges offer a glimpse into the diverse compensation landscape within the multifaceted field of banking in Luxembourg.

Average wages for banking jobs in Luxembourg
RoleMinimum (euros)Maximum (euros)
Account Manager3,0907,070
Anti-Money Laundering Specialist2,8207,458
Back Office Specialist2,8146,635
Compliance Specialist3,49110,609
Financial Analyst3,4718,402
Loan Specialist6,9566,956
Personal Banker2,4596,350
Private Banker3,2638,392
Relationship Manager3,3478,825
Risk Specialist3,3878,583
Wage one can count on

The salary range for professionals in the Luxembourg banking sector typically spans from 4,384 euros (average minimum wage) to 9,794 euros (average highest median salary). However, given the sector's vastness with numerous branches and specializations, these figures provide a broad overview. 

What papers do you need as a foreigner to land a banking job?

For European nationals, the process of working in Luxembourg is relatively straightforward, given the freedom to live and work in any European country. However, if you are not a European national, navigating the paperwork becomes essential.

The requirements vary based on your circumstances, distinguishing between employed and self-employed roles. Additionally, familial situations, such as having a Luxembourgish or European partner, can impact the process.

Common documents and prerequisites typically include
Collect the documents
These are the first basic documents one might need to apply for a work permit and temporary authorisation to stay.
*The mandatory items are marked with red asterisks.
Two fully completed Schengen visa application forms
Two recent identical passport photos
A copy of the passport
Proof of accommodation
An employment contract
Payment of the applicable visa fee
Collect the documents
These are the first basic documents one might need to apply for a work permit and temporary authorisation to stay.
*The mandatory items are marked with red asterisks.
Read more about the process of obtaining work visa to Luxembourg
Work permit in Luxembourg

Frequently Asked Questions (FAQ)

What is the current employment outlook for banking jobs in Luxembourg?

What are the key sectors within the banking industry in Luxembourg?

What education and skills are necessary to work in the banking sector in Luxembourg?

We took photos from these sources: Viktor Forgacs for Unsplash, Luxembourg for Finance, Deloitte, Google Play, Facebook page of Banque of Luxembourg, ING, Spuerkeess, Degroof Petercam and Northern Trust YouTube pages, UBS Europe Crunchbase page, Nomura Bank X page, Flex Studio

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