5 Specialisations for Seven-Figure Salaries

Education tips

We live in an era in which ‘niche’ and ‘specialisation’ are the buzzwords. With a specialisation in a focused area, you gain an edge over others. Here is a list of five such interesting degrees for specialisation that you may consider. 

Tourism Management: 

A business degree with the focus on tourism offers greater scope than a plain IATA certification. Add to this the ability to offer travel packages like eco-tourism, luxury or budget travel and so on, and the scope widens immensely. Some of the institutes you can consider include Indian Institute of Tourism and Travel Management, Gwalior; Gujarat Institute of Hotel Management, Vadodara; and Department of Business Administration, Mangalore University, Mangalagangotri. For a detailed list, you can consider looking here. 

The fee for this course is around Rs 45,000 per annum, and the expected salary is around Rs 40,00,000 per year. You can also consider other hospitality options here.

Healthcare Management:

Recently, there has been a lot of buzz around medical tourism in India. With a management course specialising in healthcare, you will oversee the running of hospitals, strategising and managing relationships (in this case, with medical professionals). Most universities offering this specialisation require a science background. Welingkar Institute, Mumbai; Indian Institute of Learning and Advanced Development, Gurgaon; and Apollo Institute of Hospital Administration, Hyderabad, offer this course.

The fee ranges from Rs 50,000 to Rs 5 lakh depending on the institute you choose. On the other hand, the expected salary in India for healthcare administrators is around Rs 40,00,000 per year.

School Counselling

With stress levels rising among children, a school counsellor’s job is an important one. Counsellors guide students in K-12 classes through various issues they face through their school years. This is a fast emerging programme, and universities offering this course include Indian Institute of School Psychology, School Counseling and Guidance, Secunderabad, and Shrimati Nathibai Damodar Thackersey Women’s University, Mumbai.

The fee for these courses is around Rs 50,000 and the expected salary of a student counsellor is around Rs 2,17,000 per year.

Sports Management:

The sports industry in India has recently found a new lease of life. So, you can consider taking up sports management after either a Master of Education programme or as a specialisation of MBA. From administrative jobs to marketing and sponsorships, sports management offers a wide variety of jobs for students who enjoy sports. Many institutes offer this course, including Indian Institute of Social Welfare & Business Management, Kolkata; Indira Gandhi Institute of Physical Education and Sports Science, New Delhi; and Amity School of Physical Studies and Sports Sciences, Noida.

The fee for this course varies from around Rs 20,000 to Rs 1,60,000, while the expected salary is around Rs 3,00,000 to Rs 10,00,000.

Innovation and Entrepreneurship:

We have all heard many stories of enterprising individuals and innovators. But did you know that you can actually do a course in innovation and entrepreneurship? Joseph L Rotman School of Management, University of Toronto, Canada, offers a programme in innovation and entrepreneurship, which helps students innovate and create value from new ideas. In India, IIPM in Delhi also offers a similar course. The fee at IIPM is around Rs 3,00,000.

As an entrepreneur you are the business owner and hence, have to manage your own salary.