EM vs IC are totally different jobs though. The whole thing where you're a good IC, so you get "promoted" to being an EM is insane. There's some overlap, I guess, every job has pieces of managing other people even if it's not in the job description, but...
Just because EM offers higher positions in the hierarchy (and salaries etc to go with it) doesn't mean that accepting a "promotion" to being an EM is going to make your life better. Personally, I hated being an EM; I don't like the work, and I don't like that when I do a bad job, it directly impacts the careers of my reports.
I don't mind being a cog in someone's big project; but even if I did, I don't see how being an EM avoids it, unless you start your own thing, which I absolutely do not want to do.
I'm pretty sure I did well enough for myself in the IC track. I could have gotten bigger compensation as an EM, I suppose, but diminishing returns wouldn't have justified the additional stress. Obviously, that may depend on individual factors, everyone's path is their own and I got a lucky draw.
It is not a lie. It is true IF you live and work in the Bay Area, Seattle, and TLV - which represent the bulk of tech industry employment.
Companies where the underlying stack is a revenue generator and not a cost center are companies where these kinds of dual tracks exist, but these are only found in the major tech hubs and are not available if you are remote first.
They also require you to be both technically and socially adept.
Is that actually true (the bulk of people in the tech industry are working in "big tech" or startups)?
I don't know if there's any hard data around this, but my understanding has been that people working for these types of companies are maybe a single digit percentage of all tech workers (if that).
People working for those companies are certainly the most vocal online, though, which maybe skews perception.