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I'd always go for more base, personally, unless you think their stock is going to explode.
I think it depends on your cost of living and what you need. If the salary will already set you up comfortably and the stock options are good, I say take them. If you'd like more wiggle room in your salary rather than a delayed gratification reward, push for a better base.
I always prefer a higher base. Its really up to you but I personally don't really like having stock.
I'm with the others. Higher base pay is always better because you can always choose to allocate some of it to additional stocks. I know the stock market always adjusts in the long run but anything stock-related still makes me so nervous right now.
I personally prefer higher base in favor of stock options. I don't really understand the stock market enough to be comfortable with a chunk of my money tied up in it.