I think over the years it's healthy to switch back and forth between management and IC, and sometimes inbetween as a tech-lead manager.

Being recently hands on with the technology helps coach and assess reports and means you know the real situation of the software.

Being a manager, if you carve out enough space, lets you make a highly productive, happy, successful team, and sometimes you might be the best person to do that.

I think I'd find only doing one forever more a bit tiring!