Doesn't sound like much of a deal to me. And the reason I say so is because my theory is this: There's no reason to join a startup except to get rich, or to change the world (or both.) If you wanted a "competitive salary" you could go work for Oracle or IBM or Cisco or somebody and get that. So why join the startup at all, unless you're going to make big bank, or unless you just really, really believe in their idea? So, that said, you're looking at options, and not an outright stock grant? As the first hire? IMO, f!@# that... If I were joining an early stage startup, I'd be thinking "forgo all salary except enough to eat Ramen noodles, and give me x% of stock up front (allowing for vesting periods, etc.)" Otherwise, it's just another job, with the possibility of a nice little bonus thrown in. But a "nice little bonus" isn't "FU Money" which is what I'd be looking for, if I were to join a startup.
But that's just me.... if your motivations are different, it may be more appealing to you.
But that's just me.... if your motivations are different, it may be more appealing to you.