They probably feel 'something', but it's normal for them as a survival mechanism. Imagine a walleye laying into a perch or several perch with those big sharp dorsal fins. That's gotta hurt more than a jig head. The walleye doesn't care or was designed to deal with that pain, move on and catch another meal. Their nervous system is completely different than ours so to compare a fish to human is not coherent.
Also, my dog certainly feels pain, but I've seen him smash into so many things day in day out (he's not very smart, or hard or seeing) and he walks away like nothing happened. Nature is made to withstand a lot of stress, humans by comparison are soft and weak, which is why our bodies have a low threshold for pain, which is also why we have the brain to create external protections.