Well,it's a yes.You 'can' get well paid job post  your Masters in Biology.
Masters in Biology is a two years long programme that will help you enrich your knowledge about the most intriguing aspects of living body.
Post your Masters in Biology you can land up in both government and private sectors.
You can find job opportunities in arenas like Agricultural Research Organizations,Botanical Survey,Hospitals,Medical Research,Medical Laboratories,Testing Laboratories,Seed and Nursery Organizations,Food Institutes. You can work in various research firms of government. Plus,you have scope in private sectors as well.
If you want to go further in the field of academics and teaching has ever been on your cards then you must give SET or NET exams to teach in higher secondary education and college respectively. Union Service Public Commission and Staff Selection Commission conduct various exams for selecting different jobs available in government departments.
See,there is no shortcut. You have to work really hard in order to earn well.
Hope this helps.
Best of luck.