BBC Sport comprehends a choice could be made as soon as Friday.
However, assuming the 63-year-old acknowledges, it wouldn't be guaranteed to affect on his arranged consultancy job at Manchester United from next season.
Rangnick has three games left as between time United chief, after Thursday's home match against Chelsea.
Be that as it may, he has likewise concurred an advisor's job past the finish of this season, laboring for six days every month.
It is perceived the German was content with that responsibility since he was keen on working in the global game.
Rangnick came to United in November in the desire for protecting their season.
Be that as it may, results have been a significant dissatisfaction, with the German surrendering United have for all intents and purposes no way of fitting the bill for next season's Champions League.
Talking after the Chelsea game, Rangnick said: "Let us talk this evening about Manchester United, this is the issue. I can affirm I will go on in the consultancy job.
"Up to this point me and [incoming United manager] Erik [ten Hag] haven't spoken. Be that as it may, I am more than cheerful and ready to help and improve things.
"It would leave space for one more occupation yet that is the very thing that we concurred in November last year."
Examination
In arranging his two-year consultancy job at Manchester United that will produce results from the finish of the time, Rangnick made it clear he needed to be allowed to take on different jobs. Obviously, it would be troublesome assuming he was at another club.
The worldwide game is unique - and with such countless players from the Red Bull establishment in the Austria crew, the allure is self-evident.
Notwithstanding, Rangnick expressed recently he is focused on aiding United and that is as yet the situation.
His feedback could be important assuming United will think twice about.
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