This article develops a conceptual framework to assist in determining the value to be gained from long-term international assignments. By integrating several streams of research, we present a new framework of expatriate return on investment (ROI) for global firms, which both builds on frameworks offered by other scholars and is informed by recent developments and emerging directions in global mobility research and practice. In doing so, we identify relevant questions to guide future research and draw implications of the framework for theory, research, and practice.