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Not to nitpick, but $75 per hour x 40 hours per week x 52 weeks per annum = $156,000, which isn't exactly peanuts. According to levels.fyi, it's a bit less than entry-level for FANG companies, but still a reasonably high salary that sits squarely between E3 and E4 (Senior Software Eng) pay grades for Walmart Labs. It would be a role I would consider testing for the easier DP questions.

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$156k in SF for a contractor is garbage pay. You have to pay for all your own expenses. Maybe you'd net $110k after all taxes and expenses.

There's real contractors and then there's fake contractors which should always be called staff augmentation.

No real senior software dev contractor would accept $75/hour in the Bay area. You're looking at minimum $100/hour.

Although, "fake contractors" or staff augmentation, those can be paid $75/hour or less.

It looks like median wages for a programmer in SF are around $55/hr according to the BLS. So if I was hiring, I'd assume median plus 1/3 for a contractor is plenty.

https://www.bls.gov/oes/current/oes_41860.htm

It is a contract position for a senior engineer, not a permanent role.

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