Why? Unless you’re sure that the stock price will tumble, it makes no sense to increase your base pay aggressively. Most higher engineering levels will top out their base in the 200-300 range and all the rest of compensation will be via RSU.
We're barely a year removed from some of the most volatile stock market action since 2008
Barely removed from a lot of people taking massive haircuts as COVID darlings are down 50%+ from ATH
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To me equity is an investment you can't back out of for 4 years.
I'm not sure the bottom isn't going to fall off the market for tech period, so I'm happy to trade equity for the ability to have some control over my investment