I can confirm that, at least in my career so far, the management and technical tracks have never been completely equivalent -- even when great effort was spent

I can confirm that, at least in my career so far, the management and technical tracks have never been completely equivalent -- even when great effort was spent trying to make them so. Very high-level IC roles are possible that are roughly equivalent to VP or SVP management roles. However, these are often extremely few in number compared to high-level management roles. They often come with a title like Technical Fellow or just Fellow. In a large company, there might be 100 VPs for every 1 Fellow. A mid-level manager is also often afforded more organizational perks than a mid-level IC. For instance, while private offices in general are in short supply across the entire industry, a mid-level manager is much likelier to have one than any IC is regardless of title.