Just to add my own data point. I studied leetcode for 6 months during covid. Sent about 30 applications interviewed at 10 companies and received 8 offers.

2 of these offers where double my current TC through negotiation. It's not just FAANG but startups making very good offers. I have 3 YOE.

For negotiation:

Always ask for at least 20% more + a signing bonus

Have competing offers

Interview well

Be willing to walk away. If they can't do it there's another company that will.