Strong disagree - you absolutely need to factor in liquidity effort alongside vesting schedule and face value for equity comp, and in general for most non-public companies that liquidity capability is zero.

- RSU's that I can only dump on a secondary market are worth a fraction of their face value. - Grants in a company that'll never have a liquidity event are worth a fraction of their face value. - Options in a public company are definitely worthwhile, but I shouldn't be negotiating their face value one-to-one with cash.

It's possible you've had a great outcome liquidating some equity from a private company, in which case I'm super stoked for you and that's a great outcome - but it's not the norm.