External Hard Drives between Mac and PC?

I work between PC and Mac computers constantly. I save everything on my external hard drive. The problem is the format to be able to do this (FAT) only lets me put in small gigs of data, I can't exceed a certain limit and sometimes I need to transfer large amounts of data between the two systems so I was... show more I work between PC and Mac computers constantly. I save everything on my external hard drive. The problem is the format to be able to do this (FAT) only lets me put in small gigs of data, I can't exceed a certain limit and sometimes I need to transfer large amounts of data between the two systems so I was wondering is there another alternative that can let me do this?
Update: Why do these two companies have to always make themselves incompatible to each other? If the were compatible I could buy more stuff from each, it would be better business sense in my opinion.
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