Simply because the boss of the manager trusts that one person with implementing their vision and strategy. Yes, you can have individual contributors underneath

Simply because the boss of the manager trusts that one person with implementing their vision and strategy. Yes, you can have individual contributors underneath that are technically providing more value to the company, but they aren't responsible for the success of the team in the way a manager is. Frankly, that is just worth more to bosses and helps them sleep better at night.