At least in software, I don't think this is nearly as much a problem as in other industries. I know a lot of very good developers who are in their 30s and 40s

At least in software, I don't think this is nearly as much a problem as in other industries. I know a lot of very good developers who are in their 30s and 40s (not too many who are in their 50s, although I'm sure they exist and there will be more in the near future!) and have no desire to stop coding and become management. In some cases it's a very conscious lifestyle choice: you can maintain much more flexible hours and even do telework if you are writing code, while someone in a management role has to be physically present more often. The idea that everyone should move into management is poisonous, both to developers who want to remain developers and feel pushed, and to management, which gets filled with people who don't really want to be there. Some of the better places I've worked have recognized that some people want to get into project or staff management, and other people would prefer to perfect their craft and work independently. They link salary not to progress along a "ladder," but to actual value to the organization -- which often leads to developers who are making more than their project managers. This strikes me as totally appropriate, and it surprises me sometimes that not all companies are like this. A company that pushes its best developers into management positions they're not thrilled about (either through 'career planning' or by making that the only way to get raises) is shooting itself in the foot in the long run.