I'm in a situation now where I was one of the first five (#5, to be precise) employees at a startup. I told them what I needed to get as a salary, and I didn't cut it down for the sake of hoping to cash out later. I got less stock than I could've, but that money (if it ever exists), is more of a bonus to me than anything.

I can't afford to go out on a limb for a startup or to hope for some big pay day. I'm a single earner in a family of five and I can't just make my kids stop eating and growing because I want to get some stock options.

I would suggest anyone thinking of working at a startup keeps their regular salary in mind as what you need/want, and think of stock as a bonus later that probably will NOT ever come.

Stock is a nice carrot to dangle if you're a stingy employer (or one who refuses to pay folks' worth), but it shouldn't be considered as part of your compensation if you're a lowly employee like myself.