> None of this class ever seem to be worried about "Crap, what if there are layoffs--will I need to be an IC (individual contributor) for a bit until I find my next VP job?"
This is not entirely true. Some directors do go to another company at a Sr. Manager level.
That said, the reason they appear to always find another job at a sideways or higher level is because most people at director or VP level at successful companies just retire and become "consultants" or "career coaches".
For those that are still looking for a titled job, there is always a smaller company that needs experienced managers. They will give the title to make up for lower compensation.
These upper managers hire executive recruiters who find them opportunities. They sometimes rely on their network.
These managers are never questioned on technical skills, market understanding or ability to lead which is why their likeability gets them the next job.
But realistically, most of them retire with a few million. They are just not in the market like us plebs.