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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 incorrect time or in the wrong way, it can have a very negative impact on your career. You can find a job give with another firm where the pay is higher, but you are still not sure if that work environment will be better then your current one. After all, it is not all about the money. Imagine if you change your mind later? After all, this is not an easy decision. Needless to say your boss can forgive you and consider you back, but it is not guaranteed.
