Erasmus+ Internships

 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. temporarily settling down in a new country).

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.
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. Students must make the necessary arrangements themselves well in advance before they leave for their stay abroad. (Contact the health insurance carrier; get information on possible co-insurance or insurance through credit card issuer; if needed: take out a health, travel and/or accident insurance policy).

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 (Hyperlink). 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 and that in some cases, it may be necessary to obtain a visa for your stay in the host country.

Unfortunately, the Lauder Business School cannot take care of finding accommodation for you in your host country. For support and information concerning a place to stay, please contact the International Office of your host university. The experiences of former ERASMUS+ students have shown that finding an apartment in the larger cities, and particularly in capital cities, can be a problem. It is also important not to underestimate the prices in these cities.

D. OLS – Erasmus+ Online Linguistic Support

The Online Linguistic Support (OLS) has been designed to assist Erasmus+ participants in improving their knowledge of the language in which they will work, study or volunteer abroad so that they can make the most out of this experience.

By taking the OLS language assessment before going abroad, Erasmus+ participants are able to determine their proficiency in the language they will use to study, work or volunteer. Taking this assessment before departure is a pre-requisite for higher education students, to make sure that they meet the recommended level at their receiving organisation (except for native speakers or in duly justified cases). The results of the language assessment do not influence the Eramsus+ funding.

You will receive the link to your online assessment before your mobility.

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 (link zu learning agreement) 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:

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.

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 450
Belgium, Germany, Greece, Iceland, Croatia, Luxemburg, The Netherlands,
Portugal, Slovenia, Spain, Czech Republic, Turkey, Cyprus
400
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:

Confirmation_of_attendance traineeship form:

The form can be signed by the employer at most six days prior to the last day of the internship.

The original form 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.

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)
  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)
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: