[sidlls]

A 40% discount on RSUs at a public company is perfectly reasonable: you will have to sell to cover the taxes as soon as they vest, meaning for every 10 shares in your grant, 3-4 will be liquidated before you even see them just to cover the taxes on the vesting. Add a modest discount for the fact that you might leave prior to the next vesting date, and 40% might even be a bit optimistic.

[repsilat]

True enough, provided you also apply a 40% discount to marginal salary increases.

[sidlls]

Unless your contract specifies guaranteed salary increases why would you count it at all? Salary increases aren't like RSUs.

[repsilat]

I meant increases in offered/negotiated salary. A marginal dollar of salary gets taxed the same way as a marginal dollar of vesting shares, so discounting one in the offer because of taxes makes sense if you discount the other in the same way.

You shouldn't trade away a dollar's worth of shares for 60 cents more salary just because of taxes.