Chris Hughton has been out of work since being relieved of his managerial duties at Norwich City in April.
He has been linked with various posts since then, but has been biding his time and waiting for the right opportunity to present itself.
A couple of positions have recently become available, with Sami Hyypia leaving Brighton & Hove Albion and Neil Warnock shown to the door at Crystal Palace.
Hughton is among those to have been linked with the Eagles post and is considered to be the favourite to take over at the Seagulls.
He admits both are appealing challenges, but continues to play his cards close to his chest when it comes to his next coaching chapter.
Hughton told Sky Sports’ Goals on Sunday: “It is about that balance. The good thing for myself if that when a job becomes available, I’m still being linked with these positions. That’s a good part.
“I think it has to be a balance always between what the club want and what you think is right for you. It’s right that if there is interest from a club, then it should be coming from that end. It’s something that should be coming from their end rather than mine.
“On their own merits they are very good clubs. Palace are a side in the Premier League and fared extremely well last season. They have had some difficult times of late, but have shown some good form this season.
“Brighton have a wonderful stadium, new training facility and are a side that have been very close to the play-offs in the two previous seasons. Yes, they are both good jobs and many managers around would be interested.”
Were he to take either job, Hughton would have a rebuilding project on his hands.
Palace, having impressed under the guidance of Tony Pulis last season, have gone six top-flight games without a win to slip into the relegation zone.
Brighton, meanwhile, are seven without success in the Championship and sit second from bottom in the standings, three points from safety, as a result.