One of my commercial jobs was interior faux finishing and mural painting - if you have experience working large and if you do spend some time on decorative technique you can parse this into work that pays. Interior designers will hire out for commercial projects based on a solid portfolio.
(my experience was minimal, and I'm an OK painter at best, but I hooked up with the right people and I was great at interfacing with the interior design firms and getting us work - make sure you have sales skills as well as art skills if you want to work regularly this way)
You won't wind up drving a Bentley but you'll be able to pay for a Prius and if you love to paint, you'll be painting.
I don't have an arts degree, but I agree with Ivey in that connections are a major benefit. I happen to be fairly decent at designing web sites and working in photoshop. Digital artwork is growing in popularity and need. But through my marketing friend, I have been able to paint a mural, design the cover of a book, design ads and layouts for a local newspaper, as well as designing templates for different businesses. It's all freelance work, and few and far between, but I've loved this journey and each new challenge is an addition to my portfolio. So, connections and networking yourself will play major roles in grabbing the job you want.
I know there are several of us here that underestimate our own abilities. Keep in mind that when you want to land that job, you will have to sell yourself and your work. You have to be able to talk it up without sounding like a used car salesman. You must be confident, and show it to the potential client. If you have marketing skills, great! If not, try to squeeze in a few classes along the way. Matter of fact, the degree may require some marketing classes anyway.
In the way of painting jobs...murals, portraits, seasonal decor. Those are some ideas I have. I'm okay with pet portraits, and that's something I'm looking into doing on a regular basis. Being Cherokee helps a little, in that I can sell my paintings at PowWows. Look at your strengths, and what's in your area. For example, I live near the ACE Basin, which is a swamp sanctuary. The local museum here will buy my painted feathers to sell in the gift shop.
But most of what I've shared here is freelance work, not full time career jobs. However, you have to start somewhere, right? Sorry for all the rambling, but I hope this helps some. So many people have helped me along the way, that it's nice to pass it along. I wish you the absolute best of luck!
I majored in Graphic Design a long while back, but my painting major friends found jobs in interior design & furniture sales, another had a long career in creating museum displays, another in faux finishing and restoration projects. There's always teaching -- seems it would be a pretty good gig/job to be a painting college professor. If you keep doing what you love to do and what drives you, work will find you no doubt.