A part of my does want to try it because rarely does my company opening up so many managerial spots (we are in a growth phase). I wonder if anyone has "falling back"? And how that experience was. Is there a stigma? I assume there was a paycut?

Funny thing is I'd feel less pressure as a senior dev with 9 other college hires, than a new manager w/ 1 senior dev and 9 college hires (even though technically the team would have 2 senior devs including me if the development parts get rough!).