While internationally experienced managers are highly sought after, expatriates who self-initiate their repatriation have been shown to face difficulties upon return. However, we lack empirical insights into the determinants of the employability of self-initiated repatriates (SIRs). By investigating how country-specific, career system-related factors influence employability competences of SIRs in the cases of France and Germany, we contribute to the expansion and refinement of the nascent theory of employability competences. Taking account of international context factors, we generate theoretical propositions about employability that serve to develop wider theory (theoretical generalisation). Our interviews with 40 SIR managers show that employability cannot be determined by isolating individual competences. The level and kind of employability competences proved to be determined, rather, by country-specific norms characterising management career structures. These vary for managers with national and international career paths and are moderated by expatriation mode (assigned versus self-initiated), length of stay, destination country, corporate size, and career phase. As such, these competences are relative. In offering specific guidance for the further development of employability competence theory and related future research, we seek to stimulate additional research in the field, to enhance the validity of future studies and to increase their utility for employees, organisations and policy makers alike.