It definitely seems plausible and matches my (very limited) experience with a few friends that have joined Google, but I was wondering if you have any links.
I guess you would have to accept joining with a lower salary, and then try to switch to another FANG company to get a fair salary?
From my direct experience, and talking to other people who have negotiated with Google, the only ways to get a good offer out of them is to either come from a FAANG or get a competing offer from one.
I thought about that, but I'd rather not put myself through the job change gauntlet so often, and the role was such a step down in responsibility that I would be better off with a year in my current role.
I eventually asked Google recruiting to put me on a do not contact list after going through the process multiple times.