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If you are switching jobs:
"I'm leaving the company" is a phrase that will require plenty of courage. When pronounced at the wrong time or in the wrong manner, it can have a very negative effect on your career. You can find a working job offer with another firm where the pay out is higher, but you remain not sure if that ongoing work environment will be better then the current one. After all, it is not all about the money. What if you change your mind later? After all, this is not an easy decision. Of course your boss can absolve you and take you back, nonetheless it isn't guaranteed.
