I applied to a new grad production engineering job at Facebook recently. I probably did about 80 leetcode puzzles, let's just assume that is 1 hour per puzzle. So 80 hours of leetcode puzzles. In addition, 10 hours were spent reviewing my networking trivia (focused on layer 2/3/4 and HTTP). The PE recruiter at the company also provided a study guide packet. I elected to sink about 10-20 hours into studying the Linux…
To asses the quality of life you have to take into account : payment, time spent on the job and for the job, the amount of work, the prices in the area you live and work, the stress level, the interactions in the company and probably more.
I've done these calculations and for myself, job hunting for FAANG isn't worth. I would however not refuse to work for FAANG if that would match my personal goals, however working for FAANG would not be a goal in itself.