Life Pro Tips

Chances are that you'll negotiate a much better offer WHEN you negotiate because you're indifferent to the many mediocre offers given your satisfaction.

Ofcourse, you have to do it when you want a job change, but there's no reason to stop looking anytime.

Edit1: For people having concerns regarding job hunting, it doesn't have to take much time if you're not looking actively. I use LinkedIn about 20 to 30 mins regularly. I've built my network in HRs and senior managers in industry. I connect with people who were alums from college or same company\hobby, if I see some interesting project they posted about etc. Just a few words exchanged every now and then. Even if you just wish them on their birthdays, work anniversary etc. And I post roughly monthly or even less. So if there's an opening they post about, I get to know automatically or if they search, I'm one of the top search result.