140k including equity is not unheard of. 90k-120k base salary plus a few tens of thousands in equity is a typical range for a new grad in SV. Chances are they'll still live with room mates, though because housing costs are high. Not to mention the 10-20k that is paid in California income taxes. So it probably balances out.
Total compensation obviously because FB stock is liquid. New grad salary is in the $110-115k range at FB. I know a few companies that do pay it or more base (2Sigma, Snowflake Computing and Jane Street come to mind).
I had offers for $130k base, $130k base + equity and $130k base + bonus and those were considered to be below average by most of my peers.
If it's just salary, not including equity, that's by no means "very low". Where are you finding that new grads are typically getting more?