Or at least equal. If I like the job and it calls for 60 hours a week instead of 50, but it pays the same, I'll gladly do it. The 50 hours of the week that I would have worked either way will be a lot more enjoyable. But asking me to take 1/3 of what I would get paid elsewhere just isn't happening.

Any offer that is work for free but take equity is not one I would consider taking as an employee (obviously, cofounder is a different story).