That's a very broad question that you've asked. Arts degrees can be in a variety of subjects from theater and music to writing and painting. I see that you are interested in more of the visual arts side but even that is very diverse.
In broad terms, art jobs can be split up into two umbrella categories: commercial art and fine art.
Fine art is generally work that will be displayed in galleries and sold as unique or limited editions. Paintings especially will tend towards being fine art with each piece unique as something the artist wanted to paint or was commissioned to create. Photographs as fine art will either be sold individually or as a limited print run that is signed and numbered.
Commercial art on the other hand is something that you will create for a company. You might be employed full-time with a company or work freelance, one job at a time for a variety of clients. For visual arts, commercial art may range broadly from concept art for film and video games to graphic design for corporate or ad use.
For both of these categories, there are good paying jobs and jobs that don't pay as well. A lot of that will depend on your skill in your field, the competition in your area, your previous experience, and the industry in which you work. For example, in the San Francisco Bay Area, there are many video game companies that require art for their games. There is a lot of opportunity but there is also a lot of competition from other artists. So the pay may be good, but it may also be difficult to find those jobs. New York City generally has a vibrant theater and advertising industry and Los Angeles is, of course, home to the movie and television industry.
Finding well paying art jobs outside of those markets may be more difficult but your competition for work will be somewhat diminished. But rest assured, art is needed for everything from entertainment to corporate branding and everything in between. Some other examples would be illustrating children's books, medical and science illustration, comic books, product design, automotive design, industrial design, print publishing and web layouts, etc.
I hope that this helps.