Well, not really. Look back at the salary levels from the levels.fyi PDF. Most people downleveled from senior will end up one or two levels up from new grad. That puts you below the numbers from my comment, but not by a whole lot! And after one promotion you'll be at or exceeding my present situation.

I am much closer to the floor (new grad) than I am to the ceiling, as far as FAANG salaries are concerned.