[mrkurt]

Those companies already hire all over the world for the scarce, high dollar engineers. I don't think top end compensation will drop while those companies are monopolies. Most of those salaries balloon because they poach people from each other.

[stackcrash]

The amount of remote positions FAANG offer is tiny compared to other companies. If they open up to hiring the majority of positions as in office or remote the salaries will drop a lot for the Bay area. They will be more inline with the other companies in the Bay that hire in office or remote as options for almost any position.