Much higher title, below market pay. Thoughts?

Here's a fun one.

Currently employed as a tech, making 55k at a large respectable employer. Clear growth potential, but as with any other growth within a company, I don't see my pay going up much.

Got an offer for an engineering position, pays 75k at a small local company. Market rate for this job is 85k.

It's a decent pay bump and a higher title, but the fact that they pay 10k below market average makes me worry. I'm not opposed to the 18 months and jump, but this makes my neck hair stand on end.

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