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If you are switching jobs:
"I'm leaving the company" is a phrase that will require a lot of courage. When pronounced at the wrong period or in the wrong manner, it can have a very negative effect on your career. You can find a job present with another business where the pay out is higher, but you are still not sure if that work place will undoubtedly be better then the current one. After all, it is not all about the amount of money. What if you change your mind later? After all, this is simply not an easy decision. Needless to say your boss can absolve you and hire you back, but it is not guaranteed.
