If you excel at management, you will eventually make more than most ICs, especially in a tech company where they have to pay up to get engineers to convert to a meeting oriented job.

I was a good tactical/operational manager but did not enjoy many aspects of the job (bureaucracy, performance reviews, personnel problems, being 'corporate'), had limited interest in strategic business concerns, and did not have the enthusiasm needed to move up the management ranks.

I'm much better suited to being an individual contributor.