In regards to FAANG, it will help but it's way more fluid than some law firms that only hire Ivy League.
That's quite a self-serving narrative for us on HN. Do we have any evidence that the degrees are harder to get or that tech is more meritocratic?
> Tech is also significantly less white and full of immigrants (because of the meritocracy)
Tech's diversity record isn't evidence of meritocracy. Compare women in law, business, and media and those in tech, for example. It also may be that law, business, and media require exceptional cultural communication and understanding, which may be hard for a new immigrant to learn.
Later in the career though, all bets are off. You only have to get into an interview room and solve 5 questions on a whiteboard (6, if you include the phone screen). If you're in Silicon Valley and have "software engineer" on your LinkedIn profile you're guaranteed to get at least one shot at each company.