My brother is a student of MSIT at IIIT-H and the following points are his experience at the institute:

• This course is beneficial for people who already have an academic gap in their education. It is not advisable to enroll in this course if you have an IT background in your bachelor's degree; the same curriculum will be repeated with a shorter duration. 
• It is best not to attempt this course if you are already employed. It's better to put your efforts towards getting experience in that company.
• During the first phase of placements, you may have the opportunity to work for top IT companies such as Amazon, Salesforce, American Express, Apogee, and others. 
• If you are unable to break into those, you will eventually enter service-based companies.
• The highest package received by the students is 85 LPA while the average salary is 25 LPA during its recent placement package. 

Hope you find this helpful.

Placements for MSIT programs at IIIT Hyderabad are not that great. The placement packages and profiles offered in the placement drive do not match the skill you learn in the program. If you are choosing these programs only because of placement, it will be better to consider other options. I know a little bit about this program as I have some friends who are pursuing it. 

• MSIT program at IIIT Hyderabad is project-oriented. If you are from CSE from your B.Tech or BE then there are options for good placements in reputed MNCs. 
• MSIT faculty is different from the general faculty of IIIT Hyderabad for MTech or MS. 
• However, the management and the placement officials are not that cooperative for placements. 

So, consider all these factors carefully and talk to the students pursuing the course if necessary, before making any decision. Hope it helps.