How can I structure a part equity compensation when the owner is the majority shareholder and the four employees receive bonus and no equity?

I am waiting for an offer letter from a start up asset management company. The position being offered is a good one. But I want an equity play instead. I can’t bring money. I have enormous contacts and connections and I am coming off a big public platform. How can I present an equity compensation offer with some salary. For example, $65K salary plus expenses with 5% equity.

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