VFX

I'm a graduate of BIT (Noida extension center) for BAM (B.Sc Animation and Multimedia) Batch of 2009, and think I can give you some insight.
If you wish to enter a field of animation, design, or film production, the course is structured in a way to expose you to the various disciplines from across the field. It's a glimpse into the insides, and nothing more. This does not mean that the course is bad. As far as foundation studies goes, it is quite strong and very methodical. But, majority of my batch-mates, (and future batches as well, as my faculty tells me) join these courses expecting them to be vocational, to get jobs the moment you leave their gates.
If you are assuming the same, don't expect the scope to be too great unless you have exceptional talents or exceptional insights. Majority of the students freelance, but don't earn much in the first few years out of college. For those who get jobs, average salary is about INR 15K out of the gate.
On the other hand, if you are great at research, or develop your skills like crazy, the sky is the limit. I know a fellow batch-mate with crazy drawing skills, got INR 30K on placement, and by the second year was getting around 65K per month because of his skills and insight.
Lastly, know that you will have to choose a major in the final year. Be prepared from Day 1 for that, and study as much as you can on your major topic from the net or from books. In our line of work, the best learning comes from experience, so make sure you do a lot of summer internships and trainings to maximize your scope post-graduation.

Hi Shreesha, Multimedia - It is simple the use of a variety of artistic or communicative media. This includes text, graphic, audio, video etc. VFX (Visual Effects) - Visual Effects (abbreviated VFX) are the processes by which imagery is created and/or manipulated outside the context of a live action shot. Like you've seen Spiderman, Superman etc. In movies and comics they were not real but after watching films we take it as real. So how come they got such powers and all that its basically visual effects. In VFX we animate live things or you can say live characters. We put live things to motion. Movies like Jurrasic park, superman, spiderman all comes in this category. All the best.