Spiritual Meaning:
Spiritual masochism suggests an act of self-inflicted pain, such as self - flagellation. The pain perversely brings pleasure. It can be an aspect of martyrdom.

Psychological / Emotional Perspective:
Pleasure from pain, in the emotional sense in dreams, can alert us to our propensity to be a victim, albeit through a self-inflicted injury. In a mundane sense masochism in dreams can highlight our tendency towards lugubrious acceptance that we can do nothing about the circumstances we are in.

Everyday Material Aspects:
Sado-masochism in dreams, while seemingly sexual in nature, may well show a propensity to tolerate an extreme attitude within a relationship, for both men and women.

You might like to consult the entry for Martyr for further clarification.