You are unlikely to even make up the difference between what you would earn working at a large company
Do you find that this filters out a certain kind of candidate, perhaps the more generally experienced, or even, specifically, experienced with startups?
How is that working out for you? (Only a hint of snarkiness intended. I'm actually curious what the results of the filter have been)
I'm always direct with my startup hires:
"You are unlikely to get rich with these shares. You are unlikely to even make up the difference between what you would earn working at a large company.
If you want to be able to make a difference and learn a lot, have a lot of responsibility early on an potentially learn how to run your own startup, then this job (and corresponding lower salary) will be worth it."