Equity stakes are mostly granted over a 4 year vesting schedule. That is the case in 2 out of 3 offers our S has. The third front loaded an initial grant on signing. Graduates should understand the differences between true options and RSUs. Different companies will use options, RSUs, or combinations.
Based on they type of company, different levels of risk should be associated with equity stakes in compensation. There is fairly lower risk with established companies compared to startups. Although, the upside to startups could be astronomical (as in Instagram when they went public). IMO, the best way to look at options/RSUs is as a longer term investment and not as a means to supplement your income (base pay).