I agree that contractor pay is definitely rough compared to FTE in FAANG, but I will say that contracting roles make little difference to a hiring manager or recruiter. It can be a small factor if the contracts are consistent over a wide range of years, I've heard concerns about seeing full impact of projects and long lasting effects, but most of the time, we just like seeing some sort of FAANG experience. If your only option to get into FAANG is a contract position, then I'd just go for it. It definitely won't negatively effect you.