Education: B.Tech from Tier 2
Years of Experience: 2.5
Prior Experience: 2.5 years in large virtualization company
Company: OLA
Title/Level: SDE 2
Location: Bangalore
Salary: 20 LPA fixed
Stock bonus: 5 lacs over 4 years (10% first year, 20% second year and so on)
Bonus: 2 LPA
Total comp (Salary + Bonus + Stock): 22.5 LPA
Benefits: standard (PF, medical insurance)
Current Compensation : 20 LPA (15LPA base, 3LPA RSU, 2LPA variable)

Compared to the current state of the market this looks like a huge huge lowball, which when I pointed out to the recruiter, I got a reply along the lines of "but we're raising your base salary by 5LPA, which is a nice jump". I asked them for some time to think, but I'm most probably going to reject.