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Geophysics is an applied subject of Earth Sciences. It has two broad aspects as far as the career is concerned:
If you are aiming for higher education as MS, Ph.D or M.Phil, this field has enormous opportunities throughout the world. Several renowned universities accept students as research scholars both in India (IITs, ISM and BHU) as well as abroad. Several research institutes are also there to take students as project interns (NGRI, NIOS, IITM, etc). There are different branches of geophysics each of which carries good scope to be a good researcher in the field of Earth Sciences.
Another aspect is a professional aspect. There are various vacancies in giant companies like ONGC, CIL, GAIL, IOCL and BPCL which recruits both from campus as well as through offline examination. From last two years, UPSC is conducting exams for GSI grade A and B officers having graduated from geophysics. Globally, MNCs like Shell, Schlumberger and others too recruit geophysics candidates, however, due to a recent dip in the oil prices, I would not recommend you to focus there.
As a whole, geophysics provides ample opportunities to build your career accordingly. The fundamental point is like every other subject it depends on you how much you extract from it.