Right now is the PERFECT time to negotiate an impressive comp package at FAANG!
Comp bands themselves aren't changing, only the numbers of hires are being reduced. If you are good enough to get and pass the interview loop at FAANG during a recession, the company really wants you - so you can probably negotiate the maximum comp package - which is doubly beneficial as stock prices are low right now.
Source: I and some of my friends have recently received offers from FAANG
But what about stock prices? May be a good time to reach a particular equity package that is likely to go way up in the future vs fewer shares at a time when prices are high.
Right now probably isn't a great time to negotiate an impressive comp package with Big-G, Facebook, Oracle, SAP, or Netflix.