Enough that's a nice bonus but still a minimal part of total compensation. IRS treatment of ISO/NSOs is part of the problem but the real issue is lack of liquid

Enough that's a nice bonus but still a minimal part of total compensation. IRS treatment of ISO/NSOs is part of the problem but the real issue is lack of liquidity. If you do make the equity significant at least give your employees the option to periodically liquidate to reduce the risk of them paying tax on money they'll never see. Tax issues aside there are many startups whose equity is incredibly valuable on paper but the stock is trading for a third of the FMV on the secondary market, if there are any buyers at all.