Not the same. If you got new stock grants in each round and they all vested on that schedule extending farther and farther in the future, then yes, you are corr

Not the same. If you got new stock grants in each round and they all vested on that schedule extending farther and farther in the future, then yes, you are correct. But to say that 'you should take a reduced salary because you get this awesome stock grant that vests over four years' then for four years say 'you should stay at this lower salary as you are diluted because we are giving you stock every year' followed after four years by 'you got your stock and that's it so keep working at the lower salary and your now diluted worthless stock' is not the same at all.