Say you're an early employee at a startup, and have been granted stock options (representing under 1% of equity). How should you approach the topic of pay raises?
Should you just ask for a small bump, to cover inflation (say a 5% raise)? Should you wait until after a funding round closes? Should you accept more equity instead of cash?
I'm interested in general strategies of negotiating this balance between cash compensation and equity.
Edit: Unlike the other questions, I'm interested in how one should approach ongoing compensation in the context of of a startup that grants you stock options, rather than in general.