...Yes, the more education you have, the likelier it is you will get a higher paying job. 'Better' is subjective and ultimately comes down to what you think is the best job for you, but realistically, of course you're going to have a job that is seen as better if you have years of higher education behind you.
Of course, that leads into a new discussion about how the basic undergrad degree at university is barely enough and is now considered the standard for most employers looking for workers, forcing people to pursue further postgrad education in order to get an edge in the job market.