Master affiliate is a affiliate marketer that gets a commission for sending new affiliates to affiliate marketing programs. This person or company is approved by a company with an agreed upon rate. The commission is normally earned based on conversions of signing up for their affiailte program. The commission rate and duration of cookies can be different from company to company.
An Affiliate marketer and a master affiliate can make a wide range of money each year. The normal range starts around $10,000 to upto seven figures, although the amount of people or companies that make the top end number is a small percentage.
There are many positives and negatives of affiliate marketing. The downside of affiliate marketing is trying to get traction and earn a good income. The possibility of creating a passive income stream with little to low maintenance is a positive, but can take alot of work.
Read What is Affialite Marketing? for more details about affiliate marketing.