Albert O. Hirschman's scheme of 'exit and voice', long a classic in the study of migration and its political implications, was conceived within the framework of 'methodological nationalism'. However, the rise of migrant transnationalism is eroding the distinction between domestic and foreign actors on which the postulate was based, that exit meant renouncing on voice. Combining theoretical considerations with empirical insights from Latin American migration, this paper calls for a critical reappraisal of Hirschman's scheme. In times of transnational migration, exit, voice, and loyalty are no longer exclusive categories; instead, transnational migration can be conceived of precisely a as a new and non-exclusive configuration of exit, voice, and loyalty, and the modalities of this reconfiguration become key to understanding the political implications of migration. With such a revised understanding, the Hirschmanian metaphor can indeed be a helpful heuristic tool for studies of current migration phenomena.