Isn't it actually as simple as "how much do you get paid per year in total"? The reason being that you can convert cash to stocks (and pay capital gains taxes on its growth) at any time.
So $100k salary + $50k cash bonus == $100k salary + $25k cash bonus + $25k vested stock. You can discount any future inflows of cash or stock to present value and compare offers quite easily. Some offers will be more but that has nothing to do with whether compensation is made up of stocks or cash.
So $100k salary + $50k cash bonus == $100k salary + $25k cash bonus + $25k vested stock. You can discount any future inflows of cash or stock to present value and compare offers quite easily. Some offers will be more but that has nothing to do with whether compensation is made up of stocks or cash.