I changed jobs in order to return home from the Bay Area. With my old employer I would have taken a small pay cut, but that wasn't an option since my group did not have a presence in my home state, and the VP my group was under refused to consider telecommuters. I'm not certain what the pay cut would have been (since they were very secretive). There was a guerrilla salary survey which indicated that lower-cost areas did not have substantially lower salaries (maybe 20% less).

With my current employer, I get paid the same regardless of where I live.