Let's suppose that you are not a founder of this company, and that there will be at least one more funding round before they get to think about any shares being

Let's suppose that you are not a founder of this company, and that there will be at least one more funding round before they get to think about any shares being worth anything. Here's what you should expect: A 1% chance that equity in the company is worth anything, ever. A 100% chance that whatever percentage you are promised after vesting will be diluted by an unknown multiplier. Together, this means that you should consider the cash equivalent of the promised shares as something between one dollar and ten bucks. Don't let it convince you to reject a cash offer elsewhere, or a cash + actual stock plan in an established company. What you should ask for is a percentage equivalent to other people of about your capabilities working for the company, and a promise to continue to make you at least equal to similar folks hired in the future. Remember that business promises are made in writing and signed by a responsible officer of the company. Actual numbers right now are likely irrelevant.