Also, the taxes for RSUs doesn't work. Say the pre-IPO stock is worth $3 right now, and a good exit is $10. I'll need cash to pay taxes on those RSUs as they vest. Their current market value should greatly exceed my salary as IPO approaches, but even at $3, the taxes on the RSUs are likely to be 25-50% of my post tax cash income. With 33% effective tax on the income, paying another 50% tax for the RSU vest means my effective tax rate would he 66%. Compensating for by increasing salary would increase the company run rate, and would bump many employees into the 51% tax bracket, so their marginal rate would be something like 75%.