In my experience, the admissions committee will always be more impressed with being appointed to a leadership position vs. a project management position. Having direct reports and being in charge of even a small team will demonstrate you have the core competencies to become a business leader. When others identify this trait in you and you are promoted at work, it goes a long way with the adcoms. Having said that, I have no idea how much either position will help position you better for a strategy job post MBA. Even if the adcom will like one experience more than the other, it is always best to go with the job about which you are most passionate and can bolster your foundation for your future career to build upon.
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