Can I get a job with a Masters degree?

I studied philosophy at a top-notch university with a focus on philosophy of mind. I'm considering going back to school to get a one-year MSc in Informatics at the University of Edinburgh, focusing on vision/robotics:

http://www.inf.ed.ac.uk/teaching/years/msc/courseguide09.html#ir

Two questions though.

1) Does anyone out there know about the program or have opinions about its quality?

2) Can I get hired anywhere (I'd be looking in the States, Boston or the Bay Area, ideally) with just a Masters degree? What will I get paid? (This program is kind of expensive.) Do I have to go back for a PhD eventually to really make a career in the field?

Thanks a lot!