Why a pay cut isn’t always a bad idea

Dear Dr Pesa,

I am a 31-year-old man, I’ve been working at my current job for almost seven years now. We recently got a new boss and she is just horrible, always making us work late, criticizing us and constant harassment. I just got a job offer at a different firm, but even after vigorous negotiations, I will pocket a lesser salary than I do right now. I’d really like to break out of this toxic environment, but I am not sure what to do. Should I keep banking the big cheques or chase happiness?