McCarthy took over from Paul Jewell at the start of November and has since picked up 13 points from seven games, moving the Tractor Boys five points clear of the relegation places.
The former Republic of Ireland manager is keen for a return to the international stage, however, and has not ruled out a return to his previous role.
He told the East Anglian Daily Times: "I love the club management, the day-to-day involvement with players and everything that goes with it, but I do see myself going back if I get the opportunity.
"That is not necessarily to the Republic of Ireland - other international jobs would appeal to me. I think it is a great challenge, great working at that level and I really enjoyed it when I did, but for now I love being at Ipswich."
When asked whether there was less pressure in club football, McCarthy agreed.
He said: "If you stop and think about it like that then yes, but the reality is that you are thinking about your players, your team and winning games.
Whether it is getting promoted, staying in a league or to qualify for a European Championship or World Cup, you are effectively thinking about your team.
"Whether you're at Manchester United or Ipswich or Brazil or Scotland there are different levels of expectancy and if you let it get to you that is a problem. You just need to concentrate on the job in hand."