Options vs. Cash
I know 100+ people from a dozen companies who've made $1mm+ on equity.  None of my friends would write a post like this.<p>That said, valuing equity is complicated:<p>- most offers include a healthy mix of cash and equity and benefits.  Evaluate the whole package.<p>- unless you can pre-exercise via 83(b), I generally avoid options.  RSUs are fine and many companies are offering them.  Clever hack: counter the offer with a demand that the company pay 2% of the cost of exercising for each month you're employed, grossed up for taxes.<p>- watch out for illiquidity: whales often delay IPO which locks up employees.  This compounds the exercise issue.  Clever hack: counter the offer with a requirement that the company offer to buy back the equity at the most recent preferred share price, if the company accepts investment at a valuation exceeding $100mm.<p>Stay positive!