Counter opinion: if you want to advance in your career, always opt for management roles when given an option, even if you feel you don't love the shitwork that comes with it. Management is more versatile, more leveraged, and always has a seat at the table, whereas senior IC's power is serving at the peril of some manager. I would argue the most senior ICs that actually are successful are also managers who are afforded the luxury of not writing reviews and crappy paperwork pieces of the management, and thus are told they are ICs.

Another aspect of this is only a few companies really afford to have serious IC tracks beyond a certain point (basically FB and Google). Many more companies would be looking for senior management roles than senior IC roles, even if the absolute number of positions is lower; plus senior ICs are usually hired in their core specialization (e.g. networking expert is not automatically hired for ML in the same level,) whereas managers are seen as useful in different domains, giving them practical mobility.