Cash is not equivalent to stock. Stock has a higher expectation since you can invest unvested stock but not unvested cash. Hell, a stock offer is something lik

Cash is not equivalent to stock. Stock has a higher expectation since you can invest unvested stock but not unvested cash. Hell, a stock offer is something like 30% more valuable than cash over 4 years, though obviously riskier. This is also why a lot of start-up offers actually blow away faang comp (way higher expected rate of return).. again at expectation.