uhhh yes it is kinda a big deal. you do realize that your inner ear is how you balance. a broken eardrum can lead to MISERABLE headaches, dizziness and vomiting because of this. imagine being seasick but all the time and twice as bad. not to mention the risk of infection.
your eardrum has probably burst. this happened to my brother. i'd recommend seeing your doctor cause he will know what to tell you but here is what my brothers doctor told him-
in most cases it will heal and go away on its own. for the time being, you should stay out of the water and avoid getting any water in your ears if you shower or what not. give it a week and a half or so and if it still hurts, see your doctor again. my brother followed the exact instructions and still ended up needing surgery. it's a minor surgery, about an hour long, not a big deal, but a broken eardrum is one of those injuries that can stick with you though if you don't take care of it from the start soooooo go see a doctor.