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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 time or in the wrong way, it can have a very negative impact on your career. You can find a working job present 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 is not all about the money. Imagine if you change your brain later? After all, this is simply not an easy decision. Needless to say your boss can absolve you and take you back, nonetheless it isn't guaranteed.
