[joshuamorton]

I agree that inherently management isn't more valuable than IC-ness, but in terms of scope (which is one, though not the only metric for value) it's hard to argue that you have more scope than your manager. They're still responsible for what you're working on. Often more competent ICs are more independent, so this is a bit complicated since a manager of an independent IC can focus more effort elsewhere, but still.

The way I see this usually at places with strong IC tracks and levels is that an L7 IC is payed more than an L6 manager, but its uncommon for the L7 IC to report to the L6 manager. You usually, though not always report to someone more senior than you, and very rarely report to someone less senior.

Also its far easier for a people manager to increase their scope than for an IC to do the same, so in some sense the advancement path is more clear.