Get to ~L7 at FANG, which has TC in the ~700-800 range but mostly stock. Assuming the market continues to go up the way it has been for the past 12 years or so, you'd hit $1mm/yr after not too long.
Given the current high stock price of FANGs (or should I say MANGs?), is appreciation really that likely? I'm hearing of offers for mid-career engineers with just 500-700K in equity. And that is over 4 years.
The P/E ratio of most FAANG companies is not completely insane, we are not talking about TSLA. I think there are good chances those stocks will continue growing healthily in double-digit territory yoy. They are incredibly high-quality companies with tons of revenues and tons of cash reserves.
Recency bias means that everyone and their mother thinks that the market will go up forever. Meanwhile don't look at cloud stocks and Ark funds since 2021.