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"Tech company salaries" is itself kind of begging the question -- if a technology or software company pays a low salary, is it not a tech company? For that matter, I hear the salaries are pretty high at Goldman Sachs too.

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When the term FAANG was coined, those 5 companies were paying engineers around double what they could ask for anywhere else. I believe that's when software engineers started grouping them together. It became a goal for many young engineers to join because of the fantastic salaries/benefits.

Things have changed since then but the point remains, FAANG generally means "large company that pays above market for software developers."

Netflix is a FAANG company because it's the 'N' in FAANG. It's just not a tech company.

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