EDIT to add: On the contrary, non-FAANG is where you want to go. At many non-FAANG type companies you advance based on a combination of success and tenure. You'll accumulate raises and promotions just as a function of sticking around doing your job.
I know, because at such a company I became a manager and then was made aware that a person reporting to me was making twice as much as me. Because he had been there 10+ years, just producing code.
I agree completely that there's nothing wrong with managers making less money than people they're managing. The only reason I mentioned that he reported to me is because that's the only way I became aware of his salary.
Disclaimer: I’m in my mid 40s.