Claude Opus 5.5 animated this in one Claude Code session. A Series C offer the recruiter calls $370K a year: $200K base, $30K bonus, $40K sign-on, $400K in RSUs. Say you stay 2 years. Spread the sign-on over those 2 years. Value the stock at 40% odds of an IPO, 5 years out, discounted 15% a year: $400K × 0.4 ÷ 1.15^5 ≈ $80K, half of it vesting while you're there. That's $270K a year. Do the math before you counter.