After working at 4 different startups over the past 10 years I can tell you with a very high certainty that the only people who will make much $$$ from options are founders and investors.
Early Employees generally are shafted. Don't think your 20-200 basis points will be worth anything at the end of it. Make a decent salary and avoid companies that work you to death. Take it as a learning experience and look at the options as pure monopoly money.
EVERYTHING is skewed towards founders and investors.
Do you have voice and power in future negotiations about the direction and equity breakdown of the company? If so, the promises are worth something. If not, they likely are only worth enough to convince you to not sue about it, because that's what the actual incentives are in future capital negotiations.
Early Employees generally are shafted. Don't think your 20-200 basis points will be worth anything at the end of it. Make a decent salary and avoid companies that work you to death. Take it as a learning experience and look at the options as pure monopoly money.
EVERYTHING is skewed towards founders and investors.