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How much is a “little better”? 40%?
You’re talking about moving to a T2/T3 outsourcing shop for a lower role. That’s fundamentally a horrible move, but there may be other circumstances that would lead you to do it anyway.
Are you not valued in your current firm, demonstrated by receiving average or below average annual performance ratings? Do you not have a network of support and sponsorship within your current management / leadership team? In those cases, it might make sense to move.
Proceed with caution. I would probably wait for a better role at your level to elsewhere. Exiting Capco will be tricky as is, the long term setback from exiting at a lower title could be more impactful than the pay bump you get now.
Oftentimes being promoted above manager in a Big 4 also comes with a gigantic red target on your back if budget gets tight.
Are you suggesting capco can be a good move?