Luxembourg Skill Shortage Jobs 2024 With Work VISA

If you are someone who is actively looking for high paying career options abroad then Luxembourg is one of those countries which must be on your priority list because this country, though small, is really struggling to bring in international talent. In response, their government has introduced new tax incentives for highly qualified foreign individuals and to this i often wonder, is this enough to convince skilled professionals like me to make the move to find employment in Luxembourg?

The pressing need for workers in Luxembourg can’t be ignored. Just the other day, I read a report from the Union des Entreprises Luxembourgeoises (UEL) stated that by 2030, Luxembourg will require a whopping 300,000 new workers for thier banking, accounting, tourism, insurance and legal services. By the end of 2022, this fact shocked me to learn that 70% of artisans had already reported a significant skilled labor shortage, which might stall Luxembourg’s economic growth.

So, why am I considering a job in Luxembourg, you ask? Well, here’s a brief guide I came across:

So Why Work in Luxembourg?

1. Stable Employment: Believe it or not, Luxembourg boasts one of the lowest unemployment rates in Europe.
2. Impressive Economy: Ranks 2nd globally for GDP per capita, with a whopping 102,900 USD (macrotrends).
3. Tax Benefits: Newcomers like me can enjoy tax exemptions for our first five years (public.lu).
4. Other Attractions: Low inflation, low public debt, and solid growth have always attracted expats to Luxembourg. Despite the Global Financial Crisis putting a dent in their economy, the country seems to be recovering rather well. And while unemployment might be a minor concern but this doesn’t seem to be an issue for someone with qualifications and experience.

List of High Paying Jobs in Luxembourg in Recent Times

In Luxembourg, there’s a stark difference between the minimum wage and the average salaries of certain professions, particularly those considered “high-paying”. To help you understand, here’s a breakdown of high-paying jobs in Luxembourg along with their average salaries:

Highly Paid Jobs in Luxembourg:

1. Senior Product Manager – With an average salary of €87,600, Senior Product Managers are some of the top earners in the country.
2. IT Project Manager – Professionals in this role can expect to earn around €68,400.
3. Legal Counsel – Those providing legal counsel have an average salary of €52,730.
4. Software Engineer – Software Engineers in Luxembourg earn an average of €49,850.
5. Financial Analyst – They draw an average salary of €45,000.

According to research by Luxembourg’s statistical office Statec:

• Employees in financial services and insurance are the highest earners in Luxembourg.
• Electricity production workers, science and technical professionals, IT workers, and teachers also command high salaries.

To make this more visual, here’s a table of those jobs and their respective salaries:

Keep in mind that these figures represent averages, and individual salaries can vary based on experience, skills, and other factors.

Unemployment Rate in Luxembourg and Current job Market

Now, the majority of jobs in Luxembourg are particularly lucrative ones because those are in the financial services and communications sectors.

Current Job Market: The unemployment rate in Luxembourg as of July 2023 stands at around 5.2% (ceicdata). The workforce here in Luxembourg is a mix of nationals, commuters from neighboring countries, and foreign skilled workers. One unique thing: The job market in Luxembourg is impressively multilingual, which means you’d need to brush up on one of the three official languages – Luxembourgish, French, or German.

When it comes to the backbone of Luxembourg’s economy, financial services stand tall. In fact, this small nation houses around 150 banks! Some of the largest employers, as of 2023, included telecom giant Post Luxembourg, Groupe CFL in transport, and the finance behemoth BGL BNP Paribas, among others.

What Jobs Are Available in Luxembourg in 2023:

Even though there are much significant skills shortages right now, sectors like ICT, finance, healthcare, logistics, manufacturing, construction, and hospitality are always on the lookout for talent in Luxembourg (CEDEFOP).

Looking for a job in Luxembourg for starting working there in 2024 can be a journey you’d love to embark on after reading this factual research of mine. So if you are hoping to find employment in Luxembourg, you’ll definitely need some qualifications, hands-on experience, proficiency in languages like English, French, and German, and above all, a good dose of patience. The local Luxembourg authorities seem particularly keen on attracting foreign skilled workers and hoping them to fill the skill shortage gaps in their labor market and bolster their economy.

So, how can you hunt down high paying job opportunities in Luxembourg in 2023? Here’s my strategy for you:

1- Broaden your Search:

I’ve noticed job vacancies in Luxembourg aren’t only in local publications. They also pop up in media from other European countries, especially the UK and German so you’ve to use a combination of traditional and modern methods to get your hands on those job postings.

2- Key Resources you should Utilize:

1. • Official Platforms: I’ve checked out the official website of the Luxembourg Public Employment Service, www.adem.public.lu.
   • Popular Job Search Websites: Websites like optioncarriere.lu, indeed.lu, and moovijob.com have been super helpful.
   • Local Newspapers: I’ve been scanning the job sections of a well-known Luxembourgish newspaper, Luxemburger Wort.
   • Professional Networks: LinkedIn has been invaluable where you can easily reach out to potential employers directly and also you may consider into recruitment agencies, especially those based in Luxembourg.

3- Getting Support from ADEM:

If you consider to plan to settle and work in Luxembourg anytime soon then i would recommend you to register with the Agence pour le développement de l’emploi (ADEM) because they’ve got professionals to help with the job search.

4- Recruitment Agencies & Word-of-Mouth:

If, for some reason, you can’t register with ADEM or prefer more autonomy in your job search in Luxembourg then recruitment agencies are the way to go. Also, I’ve found that networking and word-of-mouth play a big role in a tight-knit country like Luxembourg.

5- Online Job Portals:

Apart from the job sites I mentioned earlier, there are other platforms like Monster.lu, Jobs.lu, JobLuxembourg.lu, and the EURES — European Job Mobility Portal, which have been useful in finding open job vacancies in Luxembourg.