Going from this to just having meetings, training people, looking at dashboards... I can't imagine anyone doing this who genuinely likes programming. Even if the pay is better
The people who are the most inspiring (and also the best at getting shit done) are the ones who make it very far in the IC path and become team leads. Team leads are the best managers, the actual managers are just there to do boilerplate shit and politicking that team leads aren't interested in
(disclaimer: not talking about all managers or all companies, just the ones I've personally experienced)