I've read some related questions but:
This is just a good explanation (doesn't answer my question).
What's an employee stock option scheme?
This question is from a startup perspective (not applicable in my case, company in question is not a startup)
How to ask for a raise in exchange for revoking a stock option grant?
So with a job offer at a North American software company (age >10 years old, stock is googleable so I believe IPO-ed) and having confirmed they don't consider themselves a start up anymore from some of the some of my interviewers in person. The verbal offer later included a stock option.
However if I wish to negotiate away the stock option after finally receiving the written offer (I personally don't think the stock option for this comapny will valuable, and I'm not into lottery tickets), how can I do so politely and what are the easiest/most common things to exchange it for instead?
My current approach would be to politely mention I'm not interested in the stock option and would prefer X instead. (Should X be a salary increase, a signing bonus instead, is there a common industry substitute, are there rules of thumb for conversion rates to bumping annual salary or 1 time signing bonus?)
The other problem is I want to ensure I don't seem too greedy or that I don't believe in the company and that's why I don't want equity.