I work with many brilliant engineers who have been in Google for 5-10 years and are at L4. The pay is good enough if you don't have a large family to support and they simply can't be arsed to play that game.
> People with 3 kids make do with jobs at Walmart and McD.
Very difficult in the Bay Area given the housing costs. I guess it's possible if you lucked into a below market rate apartment and qualify for government assistance like Medicaid and food stamps.
McD SF is paying you $35k[0]. For 2018 figures: «A $35,000 income in the United States has enough buying power to put you in the 82nd percentile globally for per-person income. Within the United States, your income falls around the 20th percentile.»[1]
If you look at age adjusted percentiles, 1% income is much lower than $750K/yr. 30 yr olds making $350k/ are 1%ers, and when they reach 40 or 50 they have substantial investment gains bolstering their compensation.