I've been struggling with these terms ever since I was about to enter the real world and picking between the two makes me feel I'm getting lost in between. It feels like I've wasted a lot of opportunities because one didn't work out while the other does. Work can either come from two things, profession or passion. Productivity, quality of work, and the learning curve have a huge significance on both parties. The profession has been defined in the norms as your job related to which training or college course you had where areas passion is something driven by the motivation that excites you every day regardless of what you get in return. Let's try to point some questions that affect this decision.
Do you love what you do?
Saying this in reverse would add more meaning, "do you do what you love?". This question is probably the biggest deciding factor in your career. There would probably be some dictating facts from others wherein job A us better than job B. A lot of people have given up their passion in exchange of a high paying job and never live happy for the rest of their lives. Is money really that powerful? Since this is all about "love", are you that greedy to love money? Remember, there are some things money can't buy, and some of which are time, growth, and passion.
Are you after a high-paying job or chasing your dreams?
This is pretty much in addition to what I've said earlier. Nowadays, the startup scene has been booming generally wanting to be the next Zuckerburg. I've seen people quit their full-time job just to create their own startups. Note that startups aren't as rich as what you think. A lot of people had given up their day jobs just to make their vision come to life and most of them aren't really business experts. All they have in common is their skills based on their specialty and the passion to do their work enthusiastically. I've also seen people choose a high paying job, so high they can buy new phones a month. There are instances for selecting those high-paying jobs because they're breadwinners but for me, that shouldn't be an excuse to pursue your passion. If you think you've spent your time well doing the same thing over and over again, you can say you safely did your "goal". It's your time anyway.
Do you know you'll do good by doing this in the long run?
To begin with, you don't necessarily have to be good at anything. Eventually doing things repeatedly will constantly make you better but the deciding factor would be your motivation. The value of your work should never be measured by the number of hours you rendered. Honestly, working overtime and getting paid typically makes no sense as productivity on overtime hours. If you do things not motivated, at the end of the day you'll hate a job as well as yourself and as a result, you might not do good at it. For example, you love making chairs but you are paid to wash the dishes. If doing the dishes is something you'd do in the long run then all you'll do is to wait for the time tick, get your paycheck and basically repeat the cycle all over again. I could say that pretty much wastes your time especially your motivation is at a different angle. If you keep on doing that for years, you'll regret it.
In 5 years in time, do you think this will still matter?
To say it again, one of the things you can't get back in time. A lot of things can happen in 5 years and you have to make sure something significant happens within that period. It's just like saying skill vs passion. If you do the same stuff all over again, I don't think you can consider that as growth. Only a robot can do that but the thing is you're aren't. Make sure you have a job that gives you a life-changing experience and makes sure you're learning a lot in the process. There's a common case for professional titles in which can be sometimes misleading. If somebody claims that you're a "senior" due to age then probably they have a wrong context of what "seniority" means. If a "senior" does his tasks repeatedly for 5 years then it was never a growing experience. Always bear in mind that in everything you do, think of the long run. Don't waste time. It's precious and irrevocable.
Hope that helps. I'll probably add some more thoughts when I think along the way.