I found this article about a lack of good developers at Microsoft via Hiring Technical People. Apparently, after a while, most want to become dev leads, managers, or VPs. The article's kind of cute, recalling the lyrics of Tears for Fears' Everybody Wants to Rule the World. In my experience, money isn't the only reason people want to move into some kind of management role. In some cases, it's to get some control over their projects; to be the person who gets to do the design work or shape the project in some way. In other cases, it's to avoid getting stuck with the grunge work.