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If you are switching jobs:
"I'm leaving the company" is a phrase that requires a lot of courage. When pronounced at the incorrect time or in the wrong way, it can have a very negative impact on your career. You may get a job offer you with another organization where the pay is higher, but you are still uncertain if that work environment will be better then the current one. After all, it is not all about the amount of 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 hire you back, but it isn't guaranteed.
