The main difference in my observation between FAANG and the rest is the growth rate, profit margin, and preference for equity compensation. When starting at a

The main difference in my observation between FAANG and the rest is the growth rate, profit margin, and preference for equity compensation. When starting at a FAANG you'll often receive a high but not outrageous compensation package with equity making up 20-30% of compensation. 4 years later the equity will often have compounded by 20-40% annually yielding the TC packages you see today. In another industry with stock that appreciates slowly or depreciates over time, the model wouldn't yield the same packages. The company buys your equity grant when you start, and has limited incentive to renegotiate/fight over the outsized reward.