Martin Kubej (left) and Peter Sojka (rigth) are the first two students from the Faculty of National Economy to complete a double degree with Luxembourg School of Business (LSB). Both are in the second year of their Master’s studies in Finance and Taxation. Martin is currently doing an internship as a depositary trainee and is working on his thesis titled Why Countries Win the Olympics. Peter is completing an internship in a tax department while also working on his thesis focused on the reflection of budgetary theories in Slovakia’s economic policy from 1993 to the present.
You are the first students of the new double degree with LSB. What does it feel like to be pioneers in this newly established collaboration?
Martin: Although we did not have a completely clear idea about the nature of this collaboration at the beginning, our expectations gradually became clearer. For me, it brings the experience of discovering a new place, building new connections both at the university and outside of it. It is also a great responsibility, as we represent not only ourselves but also the University of Economics in Bratislava.
Peter: Even at the end of February 2025, Martin and I were unaware of the emerging cooperation with LSB—we originally planned to go to Nottingham Trent University or on Erasmus. Once the concept of the LSB partnership and the academic calendar in Luxembourg were presented to us, we didn’t hesitate for a moment. Looking back, the experience and our feelings about it are very positive.
You have already spent some time at LSB. What differences have you noticed compared to EUBA and NHF? How does teaching at LSB work, and is there something NHF could learn from LSB—or vice versa?
Martin: The first noticeable difference is the smaller size of student groups. Our pilot group in the Master in International Finance has fewer than 15 students, which allows lecturers to maintain personal contact with each student. LSB invites external professionals to teach courses, giving us insight into the practical side of the subjects—this is something our university could draw inspiration from. Our schedule is not divided into lectures and seminars; instead, we have 4-hour teaching blocks that function as interactive lectures. LSB is quite focused on the Luxembourg financial market, which is dominated by funds, while EUBA offers students a wider selection of subjects.
Peter: I would add a few observations. In the winter semester, we completed 8 courses focused on financial markets and corporate finance—which makes sense, as Luxembourg is one of the largest financial centers in Europe, with the financial sector accounting for about 40% of the labor market.
In the summer semester, we complete a 6-month internship, which we had to secure during the winter semester. Honestly, it was difficult—we went through many interviews at job fairs and networking events. Networking is absolutely essential in Western labor markets, where many people from all over the world are concentrated. A drawback is the lack of French language skills—without it, you effectively close doors to about 70% of employers. However, we all eventually found internships, and the LSB career center helped us significantly.
As for teaching—courses were held in 2-, 4-, or 8-hour blocks, without distinguishing between lectures and seminars. One of the greatest added values of studying at LSB is that all courses are taught by external professionals and industry experts. For example, for Risk Management, LSB brought in the head of the risk management department from Barclays Bank—and similarly for other courses. I was pleasantly surprised by the quality of teaching.
Assessment placed more emphasis on ongoing projects and presentations than on final exams. Classes are smaller, students come from all over the world—from China and India to Chile—there is more discussion, and greater student participation is expected, which Martin and I preferred. LSB is a relatively new and smaller school, which makes it more flexible in designing syllabi and better able to respond to changing labor market needs. We are glad that EUBA is moving in a similar direction—inviting industry experts and modernizing courses.
What do you expect from the double degree? Why did you choose this path instead of a standard NHF degree?
Martin: From the moment I started my Master’s studies, I planned to complete them with a double degree. Initially, I aimed for a partner university in Nottingham, but during the application process I learned about the opportunity in Luxembourg. My main motivation was to experience teaching at a Western university and to build a base in a country with one of the most developed financial sectors. An important factor is also the mandatory internship in the summer semester, which often serves as a bridge to permanent employment.
Peter: I expect the double degree to provide added value through studying in English in an international environment and gaining work experience abroad. I also wanted to experience life in a country that consistently ranks among the top 15 in quality of life worldwide. Differences in institutional quality, public spaces, and people’s mentality are noticeable—for example, we arranged temporary residence in just 10 minutes at the municipal office. Cultural and sports infrastructure are of high quality and easily accessible. Of course, the downside is the high cost of living and strong competition in the job market—but that is something one must take into account when making such a decision.
What are your plans after graduation? Have you considered your career paths?
Martin: I definitely plan to stay in Luxembourg. It is a pleasant and relatively calm country with an enormous number of opportunities in the financial sector. I am currently interning in a depositary for alternative funds—if they offer me a permanent position, I would be happy to stay.
The Luxembourg financial market is highly specialized in private equity and alternative investment funds, but my preferred sector is insurance and reinsurance, which is less represented here.
Peter: After graduation, I plan to stay in Luxembourg for at least the next five years, gain experience, and improve my foreign language skills. At the same time, I help teach macroeconomics at the undergraduate level. However, I strongly hope to return to Slovakia one day—to give back what I have gained—or at least to contribute in some way to the development of our country.
