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Equity is monopoly money. So many ways for it to fall thought so few for it to actually pay out.

As someone whos spent ~12 years in the startup space... when you take a job expect only the money guarnteed to you. If your not happy with that move on... Equity? That is a windfall.

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But do I buy the options when I leave the startup? That's a hard choice.

Not to mention the savings account on the side you have to start building to buy your options when you resign! I never factored that in until I realized I had to come up with $15k on the spot to quit if I wanted to take my options with me. Now I know and am prepared, but for 24 year old me fresh out of college leaving my first startup job, that was a tough realization.

If the options are worth something, shouldn’t getting 15k in credit feom a bank be pretty easy?

That's often a big "if".

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