I'm considering a job at a company with $70M in funding over 7 rounds, with the last round being the largest. The position would be VP level on the marketing team. The standard percentage for startups seems to be roughly 1 - 2% equity for VP's, however I'm uncertain about a company with this many rounds of funding. Realistically I don't believe the company will IPO and will most likely be acquired at some future date.
Depends on what risks are you taking, how much do you value those risks and company value at last round of valuation. There is no set metric, its a matter of personal discussion. Good luck, it's a problem a lot of people would love to have.
As Jeevan said, this is really a personal choice. If you like the company and are interested in the position on offer and what it can do for your future career progression either as an employee or a future founder and you can negotiate a market rate salary then any future benefit from stock options is a bonus in the event you are able to exercise them.
Any equity play is a risk, for founders, co-founders and investors - there's never any guarantee that will come good.
I agree with Pete and Jeevan. Taking a job this late in the piece is probably less about equity (I doubt whether they would be able to give you 1% after 7 rounds) and more about what it means for a) your excitement to join the company b)the immediate compensation they are offering c) what it means for your future, (in terms of your next step). There are never any guarantees that a company will be acquired especially in the current near to medium term outlook.
All the best.