Depends strongly on the language and what you're compiling. C++ builds are glacial on any hardware. Plain C is usually just fine. I'm using a T430 and T61, and my life is great.

Rust and Haskell take time.

I haven't tried C++.

I have a 2021 M1 and a Linux laptop with a i7-11700 desktop CPU.

And compiling takes shorter on my computers than a lot of other computers.

I work mostly with C on embedded targets where build times are not really an issue. If I have to build a Linux kernel, that's a different story.