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Pro
TC includes salary, any annual bonus, and RSU’s.
The value of the RSU’s is set at the date you’re get the package, NOT the date that individual shares vest and you earn them.
Chief
RSUs vest over multiple years.
When people talk about their total comp they are talking about their gross cash-converted comp, including RSUs that vest annually.
Conversation Starter
Yes, includes all stock based comp, bonus, and even things like 401k match and ESPP which can easily be calculated.
For options at a startup, I’d normally just look at the spread between your exercise price and the actual value (last priced round or current secondary market price) to get a decent benchmark and then divide that total value to get an annual number. Take that with a grain of salt though as startup options are notoriously hard to value. RSUs at a public company are easy to peg a number to because you can literally see the stock price at any given time.
Chief
As others have said, it includes RSUs, but it’s good to break those out separately and discount them due to market risk, you leaving job early, etc.