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If you are switching jobs:
"I'm leaving the company" is a phrase that requires a lot of courage. When pronounced at the incorrect period or in the wrong manner, it can have a very negative impact on your career. You may get a working job give with another firm where the pay out is higher, but you remain not sure if that work place will undoubtedly be better then the current one. After all, it isn't all about the 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 take you back, nonetheless it is not guaranteed.
