Applied math MS/PhD -- job prospects
What are the job prospects in industry with an MS/PhD in applied math? What kind of jobs are available, and what is the pay typically like? Does having a PhD confer a significant advantage over an MS?
How about in academia with a PhD? I know jobs in academia are scarce in pure math -- how does the situation compare in applied math?
Lastly, I am particularly interested in applications of math to biology -- computational biology, bioinformatics, etc. Are there many jobs available in these fields? Is applied math a good way to get into these fields, or is a different type of advanced degree more desirable?