I've been to a couple open houses and talked to some current students, and the overall impression that I get is Biostatistics is hard and it requires a lot of long hours, perseverance, and dedication. Having said that, you should look for a university that you "click" with: one where you feel like you will get the most support from students, faculty, and staff. The prestige of the university you go to is great, but you also want to excel. It might make your resume look good, but when you go into job interviews, they will want to test your technical skills.
The MS degree is typically advertised as a research, academic-oriented degree. If you study hard and understand the material, you should be prepared for whatever career path you choose. How easy it is to find a job largely depends on what you doing during your graduate career and what connections you make as a student, whether it be with local orgs, professors, or even other students (e.g. alumni). You might see most MS students continue onto academic pursuits because that's what the degree is geared for. Terminal degrees are generally the MPH, though that degree is more public health-oriented. (And there is a chance for a doctoral degree if the university offers the DrPH track.)