Also people forget you cannot compare equity compensation just based on quoted value between companies. Even public companies have different growth trajectories

Also people forget you cannot compare equity compensation just based on quoted value between companies. Even public companies have different growth trajectories. Equity always carries added upside (and downside) value. Earlier you join the company, more risk there is, longer it takes to pay off, and but also more equity upside you have. Google stock has 3x in the last 5 years. Equity in company 5 years before pre-IPO can increase in value 20x. Equity in a 1-2 old startup can increase 100x or more sometimes.