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You have mentioned M.Sc but not in which field. But since your question here is stated in the IT field, so I assume your masters is in the IT field.
After a masters degree, you are eligible to work in an industry in systems, as system engineer, or systems manager, hardware technician, trouble shooter etc.
Wish you good luck..
What you can do after MSc depends on the specialisation you have opted for MSc. You have not mentioned your specialisation for MSc.
Naturally, I would say that after MSc you should definitely take up a job in a company or go into teaching or into research. Obviously, what you have studied should be put to use immediately and there should not gap between your studies and job.
Therefore, after MSc, I would strongly recommend you prepare a good resume with all the necessary details about your skills and academic achievements. Since you are a fresher, do not be very choosy for a particular company or salary. Doing so will land you in a problem.
Contact your friends, job consultants and post your resume on the job portals like naukri.com, etc.
If you are interested in teaching, appear for NET or SET exam of UGC through which you will get teaching jobs in colleges.
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