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If you are switching jobs:
"I'm leaving the company" is really a phrase that will require a lot of courage. When pronounced at the wrong period or in the wrong manner, it can employ a negative impact on your career. You can find a job give with another company where the pay is higher, but you remain not sure if that work environment will be better then your current one. After all, it isn't 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 forgive you and consider you back, but it is not guaranteed.
