I remember taking pay cuts of 35-65% for a few jobs I thought sounded more cool or less stressful when I was younger, only to find out some of my coworkers were making far more at the same place. They placed me still at or above the median wage, and I learned a lot (I never vested, and stocks weren't a factor in the jobs).

In my personal experience, the jobs I have taken which paid less treated me as cheaper and more disposable. This is not to say all companies are like this, and indeed many do value tech employees they could not afford otherwise more, but making a blanket statement about any pay figure is sort of a bad idea.

The FAANG workplace environment is something you will pay for. There are reasons it pays well, and I never really understood this until I left. I do not mean merely 'doing your job'.

As for the last part of your reply, I am guessing it was meant to get reactionary replies (touché).

“ In my personal experience, the jobs I have taken which paid less treated me as cheaper and more disposable. ”

That’s my experience. The more I have made in my career, the better and with more respect I got treated. As freelance I did some projects with non profit “do gooders”. They didn’t pay well and treated people horribly. On the other hand, successful companies will treat you well and pay well.

Is it possible that the causation is the other way? FAANG doesn't pay well because its dispiriting and toxic, its toxic because it pays well. This attracts all sorts of behavior.

I mean, it paid well in the early-mid 2010s also and was way less toxic.