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If you are switching jobs:
"I'm leaving the company" is really a phrase that will require lots of courage. When pronounced at the incorrect period or in the wrong way, it can have a very negative effect on your career. You can find a job offer with another organization where the pay is higher, but you are still not sure if that ongoing work place will be better then your current one. After all, it isn't all about the money. Imagine if you change your brain later? After all, this is not a straightforward decision. Needless to say your boss can absolve you and hire you back, but it is not guaranteed.
