The IISERs are among India's top engineering institutions. The BS-MS Programme is for 5 years which is basically a very good option for students who want to grow as a scientist in their life. Apart from being a scientist:

1) jobs in private sectors ( MNC's like google, facebook, Philips etc) 

2) Civil Services (IAS, PCS etc)

3) research and development 

4) other govt sectors ( railways, income tax etc) 

5) banking

6) Since it is a research course there are plenty of opportunities in abroad 

7) work as a teacher/professor

8) can go for Ph.D 

Note: Since this course is research oriented so the career opportunities are endless.