This. It’s likely not worth it for most folks considering management. There’s no pay incentive. Significantly more people politics (managing up, down, side-ways), you’re in meetings all day AND expected to do other administrative stuff which will naturally fall outside your 9-5.
The worst part: once you experience the power trip, it’s also hard to go back. Even after knowing fully well that you’re getting the wrong end of the bargain. Truth is, for better or for worse, a good manager can have significant influence over many things (from roadmap, to people’s future, to their own future career prospects).
I find that it’s a tad bit easier to write my own destiny as a manager, without having to resort to changing jobs/roles.
Another big negative often not talked about: unlike software development, where your skills are transferable when you change companies - management = people and relationships. You lose them every time you change ships and have to rebuild from scratch.