I am being offered a contract position for a similar job that I have now that will offer 1) a title bump 2) a pay increase 3) increased business exposure (in comparison to my current role which is in an academic institution).
I am ready to take the offer, because whether or not I get into b-school I think it will offer great experience, growth potential and more challenges. I plan to transition out of my role in March if I don't receive admittance to any program anyway into a job similar to this so it's a great option (just earlier than expected!)
That being said, I do not want to jeopardize my chances of getting into b-school by making this transition. That is my #1 priority so any advice as to whether to take this job now or wait until I hear back would be much appreciated.