re: Lower salary w/stock options versus higher salary no stock options

Without knowing the specifics, I'd take the cash.

1. The extra pay gives you an essentially permanent boost up. If you're good but times are bad your pay will not be cut, in fact if you're good enough you can demand a raise. This is at least something within your control.
2. Options are a play on how well other people do their jobs. Are you in a position where you can accurately judge this? If so, you probably wouldn't post this question here.
3. These days employee options are somewhat oversold. People got rich off them in certain unusual situations when times were good in the 90's but that was then and this is now.

This doesn't mean options are worthless or that it will never work out. I'm just saying you need to know quite a bit more before you pass up a $5K pay raise.