Jobs after 5 year contract at University

Hello, this is my first post so please have some patience with any potential poor wording of my questions. Also, feel free to just answer 1 of my 3 questions if it's too loaded. I appreciate any insights in advance.

I've been reading that people with a masters degree can get contracts at universities renewable up to about 5 years. However, after this, people have to look for jobs in different universities.
I am interested in people's experience or knowledge about job searching AFTER the 4-5 year renewable contract is finished when teaching at a University in Japan.

  1. Are there any well paying alternative career prospects to university teaching at this point in your career with having a Masters and 5 years teaching experience at a University?

  2. If the only viable option for career growth and stability is to go find a new university and be slowly working towards a PHD to aim for tenure, how does one get a PHD through the employing university? Can these university jobs help mitigate PHD costs in some way?

  3. Is there any way to achieve tenure with just a Masters degree and no PHD? What do employees have to typically show/work towards?

by UnIntelligentNeat24

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