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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 period or in the wrong way, it can have a very negative impact on your career. You can find a job offer you with another firm where the pay out is higher, but you remain not sure if that ongoing work place will undoubtedly be better then the current one. After all, it isn't all about the money. What if you later change your brain? After all, this is not an easy decision. Of course your boss can absolve you and hire you back, nonetheless it isn't guaranteed.
