A little different for me because I was in Biglaw, got laid off, went to small law, and then in-house. Making decent money, six figures, but not biglaw money, but WAY fewer hours, less stress. I don't have a lot of angst about compensation because lots and lots of people leave biglaw willingly and cheerfully take less money. I make market for my current position, so I'm not underpaid. Going straight from law school to biglaw and then out of biglaw is one of those rare progressions where your salary is bigger at the beginning of your career and gets lower later.

I was laid off a year ago.

It was the best for me. Though I was trying to better myself financially (better credit, pay off old cc etc.) I was doing it slowly.
Once I was laid off (after a short "morning" period - I loved the job, not a high $$ job but my dream job). I rethought my life and what I need.
I've paid off all cc - old ones, got new ones to help my credit score and pay them off each month - so there is no balance. I have tripled my savings acct and doubled my checking acct. I did need to move into a smaller - much much smaller place, re think what I need and want and so on.

Now I don't have a spouse or children so it is much different than a family.

But I have gotten to a good spot in my life. My place is small - so I don't have clutter, I make sure it's near, I have raised my credit score so much in the past year I have shocked myself. I did do research on credit and credit scores. While in my twenties no one "showed" me the right way to use cc, save, spend etc.
Now in my 30s and being laid off was a great kick in the pants.

Can't you look for a job while still working at your current job? That's what I'm doing. I certainly wouldn't advise quitting, but I don't see the harm in putting in some effort on the side toward the next opportunity.

Did you just decide to adjust your lifestyle and stay with the job? Did you ask your company for a raise/ work your way up? Did you take a job but continue to look for a job that was closer to your previous pay? I am just curious because this is my position: laid off in 2009. Looked for 7 months, started getting super nervous and finally took a job that paid about 20 percent less. I have stayed with the company and now 3 years later I am still making 10 percent less than I was in 2008. Part of me wants to revamp the job search and find something that pays better, part of me is scared to rock the boat bc the pay isn't THAT off and the benefits aren't bad. Anyone else in a similar position and still struggling to meet or exceed your income during "the good years."