>Also, it is very difficult to go from becoming IT manager to
IT director or higher, especially in bigger companies.
This is so much true.
>Opportunity to become VP, or even director is not all that common.
Completely agree. You hit nail on the head.
And IT manager is a really crappy job if you love to code. Also, it is very difficult to go from becoming IT manager to IT director or higher, especially in bigger companies.
VP of IT in large companies is filthy rich territory as per OP, but for everyone VP of IT, there are several hundred developer. Opportunity to become VP, or even director is not all that common.