For Jerry, a ColdFusion expert, the lure is cash. When I'm looking for a job, the deciding factor is salary. I also look for stock options, but I wouldn't take a job based on options alone. I really want both. Lucy also considers a good base salary to be important and ranks stock options fifth on her list.
Stock options are nice if they mean something.
If the company doesn't do well, then they are worthless. Either way, they shouldn't be given in place of salary. Right now - cash is king. The mercurial dot-com market has made entrants weary. But there is something else employees want.