The experience is at par with what it is for under graduate students but for a shorter duration of 1.5–2 yrs depending upon your final semester thesis/internship
Under Graduate students are very welcoming and mix up pretty nicely with the Masters and even PhD Students
All student activities/clubs regional activities/clubs are open to Masters students. However due to short span on the campus, administrative positions in these groups and clubs is with under graduate students for smoother functioning which is a good thing.
During placement season as well Masters students have their representative in the placement committee to ensure proper communication with students and interfacing with companies.
BITS Pilani is a very dynamic energetic campus and even if you join for a shorter span of time for your Masters course it gets you fully involved and you can make some great life long