The percentages in the field are skewed, FAANG employ a vast number of engineers.

No, they don't. FAANG probably employs 400 000 programmers worldwide, and I think the US alone probably has about 3-4 million programmers. Worldwide there are probably 30 million.

And even for FAANG, an SDE for them in Spain makes 60-100k total comp, not 400k.