Lateral Hire Conundrum

I got an offer at a very small firm but with a really great focus. M&A in a hot industry. The offer is absolutely below market pay for nyc and I was given about 24 hours to accept. So I accepted it because didn’t want to let it expire. I have an office visit scheduled this week with a much larger firm but in an area I’m not that interested in. But I believe the pay would be 20-30% more.

Now I want to go to this interview but obviously terrified to lose my current offer. The only way I could see myself interviewing is by being absolutely transparent with the larger firm. I would let them (which I guess would be the HR lady?) know that I have already accepted an offer but I am still interested in pursuing a position with them. Is that an awful idea?

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