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