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If you are switching jobs: "I'm leaving the company" is really a phrase that requires lots of courage. When pronounced at the wrong time or in the wrong way, it can have a very negative effect on your career. You may get a job offer with another company where the pay out is higher, but you remain not sure if that ongoing work place will undoubtedly be better then the current one. After all, it is not all about the money. Imagine if you change your mind later? After all, this is not a straightforward decision. Needless to say your boss can forgive you and consider you back, but it isn't guaranteed.