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If you are switching jobs:
"I'm leaving the company" is a phrase that will require a lot of courage. When pronounced at the incorrect period 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 out is higher, but you remain not sure if that ongoing work environment 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 not an easy decision. Needless to say your boss can absolve you and consider you back, but it isn't guaranteed.
