that's the thing; I mean, yeah, we'd all take small pay cuts for a lot of things; but dropping out of a FAANG company to one of the companies that is having a hard time hiring is a massive pay cut.

Like, for me; I'd be so happy to take a 20% (hourly) pay cut and work half-time for 40% of my current total pay and go to school the rest of the time. But as far as I can tell, the hourly paycut would be more like 50+% just on the hourly, so I'd be looking at like a quarter the total comp, and the prestige cut (and thus hit to future earnings) would be huge, as I'd have to go work for a startup/small company.

I guess this will make more sense if marginal tax rates go back up.