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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 time or in the wrong way, it can have a very negative effect on your career. You can find a job present with another company where the pay out is higher, but you are still uncertain if that ongoing work environment will undoubtedly be better then the current one. After all, it is not all about the amount of money. What if you later on change your brain? After all, this is simply not a straightforward decision. Needless to say your boss can forgive you and take you back, but it is not guaranteed.