Luxembourg Wealth Management Job Contract: Luxembourg Wealth Management, #2
By Eric Thomsen
()
About this ebook
Luxembourg is one of the most attractive job markets in the European Union.
The pay is good and the tax on income is modest, compared to neighboring countries like France and Germany.
That is why in the morning you see long ques on the motorways from Trier in Germany and Thionville in France of people going to work in Luxembourg.
Because of the lower disposable income in France and Germany the housing markets are slightly cheaper here, although in recent years the rent markets have shot up and the advantage has narrowed.
Especially the financial sector in Luxembourg is attractive. It employs some 28.000 people and Luxembourg is the largest European center for investment funds, second only to the United States.
Many professionals aspire to a job in this sector.
This little book is a practical guide for your job search. It is full of legal information and practical experience. It may be invaluable, depending on your situation.
Eric Thomsen
Eric Thomsen hat in den Bereichen Wissenschaft, Wirtschaft und Recht veröffentlicht, Ausstellungen organisiert und Konzerte veranstaltet.
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Luxembourg Wealth Management Job Contract - Eric Thomsen
Disclaimer
The book is mainly based on the personal notes taken by the author at a courses with the Institut Financiere de Banque de Luxembourg supplemented by other personal notes taken by the author at courses of various institutions and other venues. It is supplemented by personal experience and research.
The author is not an investment advisor and the author is also not an analyst. The information herein is not advising on any particular security or other type of investment
The information is believed to be correct but is provided as informative only and no guaranty is provided or implied. The author declines any responsibility for any loss, damage or lost income, whether direct or indirect, from any use of these notes. The reader is referred to take advice from an investment professional or registered investment advisor before making any investment decisions.
Other titles by the author
Arab Oil Money – Toxic Cocktail
Radical Islam and Compliance in Financial Institutions
Hezbollah – Cuckoo in the Nest
Catalonia – Way to Conflict
Catalonia – Legal Procedure
Catalonia – One Year Later
Catalonia – The Recogning
Tesla
Hybrid Future
Clinton Stories
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Some of these titles are available in other languages.
About the author
Eric Thomsen has published in law, science and economics. He holds several law degrees, a degree in economics and was ACAMS certified in 2016.
Contents
Introduction 7
The Hoop
Your first job contract
Your second job
ADEM
ITM
CET
CNS
Introduction
Luxembourg is one of the most attractive job markets in the European Union.
The pay is good and the tax on income is modest, compared to neighboring countries like France and Germany.
That is why in the morning you see long ques on the motorways from Trier in Germany and Thionville in France of people going to work in Luxembourg.
Because of the lower disposable income in France and Germany the housing markets are slightly cheaper here, although in recent years the rent markets have shot up and the advantage has narrowed.
Especially the financial sector in Luxembourg is attractive. It employs some 28.000 people and Luxembourg is the largest European center for investment funds, second only to the United States.
Many professionals aspire to a job in this sector.
This little book is a practical guide for your job search. It is full of legal information and practical experience. It may be invaluable, depending on your situation.
The Hoop
One ambitious young man who made it, has described the entry to the Luxembourg job market as getting through the Hoop
.
This description allures to the circus.
The applicant is like a seal – adroit in his own element but a bit clumsy out of the water.
The animal trainer coaches the seal to jump through the Hoop in the performance of an extraordinary act worthy of the spectator’s ticket price.
The applicant can picture himself as the seal – well educated and secure in his home country where he knows the rules – and willing to perform extreme acrobatic acts for the pleasure of the prospective employer but clumsy because he is out of his own element.
When you pass through the Hoop you will enter Elysium, the Promised Land of good working conditions and fat pay. You will be able to buy an apartment or a house, meet someone special and perhaps raise a family.
Or you may get incredibly rich and squander your pay on a Maserati and wreck it in one of Europe’s most dangerous traffic environments.
Or you may choose a more sensible middle course and save for your early retirement.
Whatever your goals the first requirement is for you to get through the Hoop – gain entry to the Luxembourg job market.
There are dangers lurking in the shadows.
Your first job contract
There are predatory prospective employers lurking in the shadows. Some of them are serial predators that exploit dreamers and burn them until they are consumed and then they throw them away, letting society foot the bill.
There are other employers who have both regular jobs and predatory jobs. They then use very abusive contracts to keep the truth under wraps and exploit you and your precarious situation as long as possible.
We will use the example of such a company to explore the workings in detail.
Example: Mazars
The example is of Mazars Luxembourg. Let us first explore what is Mazars – the author had never heard about this business until the applicant came in contact with them in November 2018.
20000 professionals 86 countries
"We are an international,
integrated, transparent and
independent organization.
20000 professionals 86 countries
We are an international,
integrated, transparent and
independent organisation.
We specialize in
Audit, accountancy, tax,
legal and advisory services."
https://www.mazars.com/
––––––––
The Mazars Group was founded