[Aperocky]

> my non-FAANG experience

I think this is highly relevant. Traditional companies have a historically inherited structure where the talents to 'do things' are relatively easy to come by, allowing management to accrue larger influences and hence compensation with the organization. The practice has a lot of momentum as you would hire the same managers even for a software business, they'd come from one of these places.

The growth of FAANG and other new tech companies threatens to end this by driving up the scarcity of engineering talents, while creating an entirely new management class that used to be engineers. While they do make more than most engineers in those companies, they take on highly technical decisions that management in traditional industry mostly refrain (drive & initiate vs select from n things).