This has been my experience as well. Late stage startup is a lot better, since they can pay well + give you stock options that MIGHT work out if they IPO WITHIN

This has been my experience as well. Late stage startup is a lot better, since they can pay well + give you stock options that MIGHT work out if they IPO WITHIN 1.5 years of you joining. Timing is really important here, keep in mind the 4 year vesting. If they did not IPO within the time frame, find another one.