Erasmus+ Internships

The Erasmus+ internship/traineeship mobility scheme for students and soon-to-be graduates supports mobility to other European countries for the period of an internship.

Such an internship/traineeship has to be related to the content of the degree studied at LBS. It has to increase a student’s professional and intercultural competencies to enhance his/her employability and career prospects.

Funding is granted to partially cover extra costs incurred by international mobility (e.g. buying a plane ticket, paying the deposit for the apartment, housing in a hostel before finding an apartment, buying food in a restaurant if no kitchen is available).

 

Erasmus+ Programme countries:

  • All EU member states
  • Macedonia, ICE, LIE, NOR, TUR, Serbia
  • SUI temporarily suspended
General Information

Pre-requisites for Erasmus+ Internship funding:

  • You must be enrolled in one of LBS’s degree program.
  • Erasmus+ funding can be used for paid or unpaid internships/traineeships with any employer in one of the program countries. Entrepreneurial/self-employed/free-lance activities are not eligible. No funding will be granted for internships in EU institutions and governmental institutions.
  • Erasmus+ SMT funding can be combined with an AIESEC internship.
  • Internships in Austria will not be funded as it is not a mobility per se.
  • You are advised to acquaint yourself with the necessary formalities in connection with your entry to and residence in the host country early on. You can find travel information on the Website of the Austrian Ministry of Foreign Affairs. If you need further information, please contact the foreign representation (embassy/consulate) of the relevant host country in Austria. Please note that special conditions of residence apply to third-country nationals (also with a residence permit for Austria) and that in some cases it may be necessary to obtain a visa for your stay in the host country.

A. TYPES OF ERASMUS+ FUNDING FOR INTERNSHIPS

B.  DURATION OF AN INTERNSHIP

C. INSURANCE COVERAGE, FORMALITIES OF ENTRY AND RESIDENCE AND ACCOMMODATION

D. OLS – ERASMUS+ ONLINE LINGUISTIC SUPPORT

E. INCIDENTS DURING THE MOBILITY

 

A. TYPES OF ERASMUS+ FUNDING FOR INTERNSHIPS

(1) Funding for compulsory internships which are part of the curriculum (i.e. PPT in the 6th semester of the IBA program)

(2) Funding for voluntary internships which students do during their vacation from studies (min. 2 months)

(3) Funding for graduate internships/traineeships which recent graduates do immediately after the successful completion of their degrees (application must be filed in one month before your examination date)
All SMT-funded internships must be full-time (in accordance with the respective legal regulations of the destination country).

B.  DURATION OF AN INTERNSHIP

  • 2 months up to max. 12 months
  • Internships cannot be interrupted for a longer period than the amount of days off an intern is legally entitled to in the destination country.
  • One immediate extension is possible if one applies for it with the LBS International Office at least one month before the end of the granted funding period.
  • Maximum of 12 months of funding for any Erasmus+ mobility per degree cycle (BA- 12 months, MA – 12 months, PhD – 12 months).

C. INSURANCE COVERAGE, FORMALITIES OF ENTRY AND RESIDENCE AND ACCOMMODATION

An Erasmus+ mobility grant does not include insurance coverage. Candidates must make the necessary arrangements themselves well in advance before they leave for their stay abroad.

For your Erasmus+ Internship funding you need the following insurances:

  • Health insurance
  • Accident and liability insurance

Insured persons with an European health insurance card are advised to contact their insurance and inquire about the scope of medical services provided by selfsame. We recommend additional insurances for the time being and your spare time activities (a liability insurance and a travel health insurance are recommended. Contact the health insurance carrier; get information on possible co-insurance or insurance through credit card issuer).

Before you start your internship, you are obliged to find out from your employer whether or not he will provide accident and/or liability insurance for you during your internship. As a student, you are granted subsidiary accident and/or liability insurance coverage at your internship workplace and on the way between your home and your workplace under your Austrian National Students Union (ÖH) insurance policy (What does the OEH insurance cover), provided you have paid your Students Union contribution (ÖH Beitrag) for the semester in question (please mind: this does not apply for graduate internships). However, you are advised to take out additional insurance that will also provide coverage outside of working hours.

Neither the Lauder Business School nor OeAD GmbH or any of the other institutions involved in the implementation of the ERASMUS+ Internship Programme accept any liability for the consequences of non-existent or inadequate insurance coverage.

You are advised to acquaint yourself with the necessary formalities in connection with your entry to and residence in the host country early on. You can find travel information on the Website of the Austrian Ministry of Foreign Affairs. If you need further information, please contact the foreign representation (embassy/consulate) of the relevant host country in Austria. Please note that special conditions of residence apply to third-country nationals (also with a residence permit for Austria) and that in some cases it may be necessary to obtain a visa for your stay in the host country.

D. OLS – ERASMUS+ ONLINE LINGUISTIC SUPPORT

Students whose main working language is Danish, Dutch, English, French, Greek, Italian, Polish, Portugese, Spanish Swedish or Czech have to complete an online self-assessment to establish their language skills before and after their stay abroad (students, who are native speakers in these languages, are exempt).

These online self-assessments are mandatory and have to be completed before the start and after the end of the stay.
The students concerned by this new program receive the invitation for the language assessment by email from the database. Please also check your spam folder and add the email address to your contacts to avoid missing the email.

  • The results of the language assessment do not influence the Eramsus+ funding.
  • You will receive the link to your online assessment before your mobility.

Erasmus+ Online Linguistic Support

E. INCIDENTS DURING THE MOBILITY

  • If the student faces any problem during the mobility, s/he is requested to contact the LBS International Office at his/her earliest convenience.
  • In case of unforeseen circumstances which force an SMT beneficiary to interrupt or prematurely terminate his/her internship (force majeure), the LBS International Office has to be immediately informed. Otherwise the beneficiary will have to pay back the entire grant.
  • In case the mobility has to be interrupted or discontinued, page 4 of the Learning Agreement (see section “Necessary Documents and Downloads”) has to be filled in and sent to the LBS International Office and the OeAD Erasmus Office.
    It is very strongly recommended to keep proper written documentation of any incidents during the mobility period.
  • If a student wants to extend his/her internship or renew his/her internship after graduation, the LBS International Office must be contacted by e-mail at least six weeks ahead of the termination of the approved internship period. The LBS International Office will provide further instructions. It has to be borne in mind that the minimum duration of the extended or renewed mobility is 2 months.
Application Procedure

Candidates must submit the following documents at least 15 days before the planned mobility in English language to the International Office:

  • Filled-out and signed Learning Agreement for traineeships (see section “Necessary Documents and Downloads”)
  • Valid Internship contract signed by both parties
  • Motivation letter max. 500 words

After successful submission of documents, you will receive a nomination e-mail from the OeAD. You will be asked to create an account where you will find your grant agreement. Two copies of the grant agreement have to be signed and returned to the OeAD before your mobility.

VISA: In case you need to

Financial Matters
  • LBS students are not exempted from tuition fees at LBS during Erasmus+ mobility.
  • Funding will be calculated based on an actual day-count calculation. 80% of the grant will be paid at the beginning of the mobility period, 20% after its successful conclusion and reporting.
  • Additional expenses cannot be reimbursed.
 
Country   Euro/month
Denmark, Finland, France, Ireland, Italy, Liechtenstein, Norway, Sweden, UK   500
Belgium, Germany, Greece, Iceland, Croatia, Luxemburg, The Netherlands,
Portugal, Slovenia, Spain, Czech Republic, Turkey, Cyprus
  450
Bulgaria, Estonia, Latvia, Lithuania, Malta, FYROM, Poland, Romania, Slovakia, Hungary   400
 

Students with special needs (i.e. physical or mental illness or disability and/or mobility with children) can apply for additional financial assistance. No special needs assistance will be granted based on socio-economic needs.

Double funding is clearly not permitted. Recipients of Austrian Studienbeihilfe or Selbsterhalterstipendium can transfer their benefits to the destination country during the Erasmus+ mobility period. However, they will only receive a top-up amount from Erasmus+.

If you receive a study grant (Studienbeihilfe) from the Austrian Study Grant Authority (Stipendienstelle) and are planning to go on ERASMUS+, you MUST also apply for financial aid for your studies abroad (Auslandsbeihilfe) at the Study Grant Authority. After processing your application, the Study Grant Authority will issue an official notice about financial aid for your studies abroad (Auslandsbeihilfenbescheid). You will be required to hand in the official notice about financial aid (Auslandsbeihilfenbescheid) to the OeAD, together with the signed contract. You will receive the “Top-Up” ONLY after handing in both documents to the OeAD. The “Top-Up” is the reduced grant for study grant recipients. It is paid by the OeAD and consists of the ERASMUS grant for the host country MINUS the financial aid for your studies abroad (Auslandsbeihilfe). The 80%-20% regulation also holds for Top-Ups. The financial aid for your studies abroad will be paid monthly by the Study Grant Authority (together with your regular study grant).

Reporting Duties

The following reporting duties have to be fulfilled to receive the second funding instalment and to get the special mention in the Diploma supplement.

To be submitted to the OeAD Erasmus Office:
1. Confirmation of attendance traineeship
This form (see section “Necessary Documents and Downloads” can be signed by the employer not earlier than six days prior to the 
 last day of the internship and must be submitted within 30 days to the OeAD Erasmus Office either in person or by postal mail. Given
the case that you send the form from your employer’s official account, an e-mail submission is acceptable.
2. Answer the survey as soon as requested by OeAD (you’ll be invited by mail, please also check your spam/junk folders)

Upon fulfilment of this reporting duty, the beneficiary will receive his/her second instalment (20% of the funding rate).

To be submitted to the LBS International Office:

  1. Signed Traineeship Certificate (page 5 of the Learning Agreement, see section “Necessary Documents and Downloads”)
  2. Narrative report of the mobility experience (focus on professional/academic learning min. 250 words) for the LBS website
  3. Picture of beneficiary at his/her workplace or at a landmark in the destination country for the LBS website (minimum 3-4 to choose form)
  4. Completion of the EU Survey (an automatically generated link to this electronic survey will be e-mailed to the student by OeAD)
Necessary Documents and Downloads

Bachelor students on mandatory internship:

 

Bachelor students on voluntary internship:

 

Master students on voluntary internship:

 

Confirmation of Attendance form for all trainees:

 

Certificate of Insurance for all trainees:



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