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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 time or in the wrong way, it can have a very negative impact on your career. You can find a working job offer with another company where the pay is higher, but you remain uncertain if that ongoing work environment will undoubtedly be better then the current one. After all, it isn't all about the amount of money. What if you later on change your mind? After all, this is simply not a straightforward decision. Needless to say your boss can forgive you and consider you back, nonetheless it isn't guaranteed.
