Should I Take Higher Cash or Lower Cash + ESOPs?

Hey folks,

I’ve received an offer from a seed-stage startup for a Founder's Office role. It's pretty dynamic and offers great exposure overall.

The startup recently raised a seed round of around $1.4 million, and they’re building AI-first tools to automate repetitive workflows (think internal ops, knowledge management, etc.). Early-stage but promising, and the founder has solid startup experience, and I vibe well with the team. They seem scrappy and ambitious.

Here’s the catch: I’ve been given two compensation options:

100% cash

83% cash and 17% ESOPs at current valuation (~₹50 Cr)

The ESOPs have a 4-year vesting schedule with a 1-year cliff, and we haven’t yet discussed buyback policies or potential exit timelines.

I’m fairly early in my career, so I’m trying to balance financial stability with long-term upside. Cash is obviously guaranteed, while the ESOPs are a bet on future growth (and liquidity). I like the vision, but I’ve also heard stories of ESOPs turning out to be worthless if exit options don’t materialise.

So I’d love your thoughts:

How would you approach this choice?

If you've worked at early-stage startups, how did ESOPs work out for you?

Any specific questions I must ask before accepting the offer?

Would especially love insight from anyone who’s been through the ESOP maze or had a positive/negative exit experience 🙏

Thanks in advance!