Making enough money to live comfortably in a place you like is key. It doesn't matter how much it is, if you have family and friends in a low-cost area, even $30k can be more than enough. I believe most people are happier if they can choose where to live and can live there well rather than chasing the highest salary you can get in the world.

Right, but the problem is that you're way more unlikely to be making FAANG money outside FAANG.

I don't know how true that is, but I'm not sure it matters anyway. Money is nice, but job satisfaction is about much more than total compensation figures. Are you building something worthwhile, something that will help people to improve their lives in some way? Are you building something that is intellectually stimulating, facing challenges that you enjoy overcoming? Are you working in a comfortable environment, where you have positive interactions with pleasant colleagues? Is there a supportive culture, where you are respected as a contributor and trusted to make decisions according to your level of skill and experience? Is there a healthy work-life balance?