Most product managers leave significant money on the table when changing roles or asking for a raise. Not because they're bad negotiators — but because they negotiate at the wrong moment, with the wrong framing.

Here's what consistently works:

1. Never anchor on base salary first

The first number floated anchors everything. Make the company go first. "I'd love to understand the full comp structure before we get into specifics." This alone is worth $10-20k in most cases.

2. Compete in total comp, not base

A PM who discusses RSU vesting cliffs, sign-on bonuses, and equity refresh cycles walks away with a better deal than one who fights over $5k in base. Think in 3-year total comp.

3. Your leverage window is 48 hours after the verbal offer

This is when companies are most motivated to close you. Most PMs wait too long and lose the moment. Move fast.

4. Know the market down to the decimal

"I've seen market comps for this level at $X-Y" is infinitely stronger than "I think I deserve more." The data exists — use it.

5. Create competitive tension even without a competing offer

"I'm in conversations with a couple of other companies and expecting to hear back shortly." This statement alone shifts the dynamic.

Drop your situation in the comments — happy to give a quick take.