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If you are switching jobs:
"I'm leaving the company" is a phrase that will require lots of courage. When pronounced at the incorrect time or in the wrong manner, it can employ a negative impact on your profession. You can find a job offer you with another firm where the pay is higher, but you are still uncertain if that ongoing work environment will be better then the current one. After all, it is not all about the amount of money. What if you change your brain later? After all, this is simply not a straightforward decision. Needless to say your boss can forgive you and take you back, but it isn't guaranteed.
