Is this still a debate? It all depends on personal goal/wishes and constraints from your working contrxt (e.g company size, country of residence).

Take France with medium to large size companies: ICs (whatever the seniority) are usually paid less and have a hard time evolving so they are naturally encouraged to take on management roles by their hierarchy. In some other contexts, ICs may have more leverage thus not wanting to go the management route and that’s okay.

Anyway, in the next 5 to 10 years this all might change for better or worse so…