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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 wrong period or in the wrong way, it can employ a negative effect on your career. You can find a job present with another company where the pay out is higher, but you are still uncertain if that work environment will be better then your current one. After all, it isn't all about the 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 take you back, but it is not guaranteed.
