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If you are switching jobs:
"I'm leaving the company" is a phrase that will require plenty of courage. When pronounced at the incorrect time or in the wrong manner, it can employ a negative effect on your career. You may get a job offer with another organization where the pay is higher, but you remain not sure if that work place will undoubtedly be better then your current one. After all, it isn't all about the amount of money. Imagine 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.
