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If you are switching jobs:
"I'm leaving the company" is a phrase that requires lots of courage. When pronounced at the incorrect time or in the wrong manner, it can have a very negative impact on your profession. You may get a job offer you with another business where the pay out is higher, but you are still not sure if that ongoing work place will undoubtedly be better then the current one. After all, it is not all about the amount of money. Imagine if you later change your brain? After all, this is not a straightforward decision. Needless to say your boss can forgive you and consider you back, but it is not guaranteed.
