Unfortunately, at many places, going into management is considered as career advancement instead of parallel path, and this is reflect in terms of compensation as well (a huge mistake).
At tech companies, this is starting to change. They'll have an IC path and a management path.
But at a non-tech company that happens to have engineering roles (Bank, healthcare, etc.), yeah that's not happening. If you want to write code, you might end up being promoted to "Senior Software Engineer", but you'll stall there and your compensation will fall even farther behind the curve than it already is. You might cap at 150K/year if you're lucky.
