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Accepted external offer due to relocation - current company wants to retain me and I am trying to negotiate salary

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I was relocated last year to a different city due to a location strategy for my company. I accepted because I could not find a competitive offer in time for relocation.

Fast forward to a few months ago - I began interviewing for jobs in the city where I was originally located. I finally found one, however it is a decrease in base salary but comes out to slightly more in stock bonus. I was hesitant but ultimately accepted because I want to move back long-term where I was before.

I messaged my manager and told him I was submitting my resignation because I accepted an external offer. He asked me to call him on his cell. We spoke and he said he does not want to lose me and he can relocate me back if that’s what I wanted. He told me to think about it and I thanked him for the alternative and ended the call.

I thought that because he wanted to keep me, I had some leverage.…

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