If you're in the first 5 years of your career you'll have more opportunity to learn more technologies at a small startup where everyone has to do everything than at a FAANG (especially compared to Google where you will only learn the Google internal stack).
You can leverage that into a much higher paying job in a way that you wouldn't be able to leverage experience at a mid-level company.
The opposite can be true, when IC's at startups who have not truly learned their craft jump to management too early.
I worked at a blue chip and we hired young devs with 2 years experience at major banks and they were clueless. I don't think they actually did anything. Worse, they didn't realize that they didn't know how to do anything. It was bizarre.
That said, it makes it hard to work in a normal corp, you have to find a special place to work where at least the pace is 'just right' i.e. you get to actually do thing, but they're not going to push you into the ground with too much work and stress.
Three people I know how graduated college recently working at big companies have senior engineers dedicating multiple hours a week to mentorship and a lot of learning opportunities. They're growing much faster than junior engineers thrown into the deep end IMO.
The faster title advancement doesn't mean much IMO. Working at a big company I can say that outside of a certain group of other big companies we just don't trust titles to have any correlation to abilities.