I have been honest in both of the exit interviews that I have done. Interesting, I've left more jobs than two, but I've only had two exit interviews.
I gave both interviewers the good and the bad on why I was leaving.
1st company was a small startup in the early days of the internet - my exit interview was with the Founder/CEO and I had a good relationship with him and I felt I could speak freely.
2nd company was a large international BI company that had formal exit interview processes - the company was big enough and I knew the HR person giving me my exit interview and I felt I could speak freely.
If I felt that uncomfortable about the interview or I felt the information provided during the interview would be used against me, I would probably not speak freely.
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