Right, but as the article points out - you get compensated (10x) better for it in the management track. There are outliers of course, but they are just that - outliers.
It is biased. Middle management makes usually less that senior programmers. His perspective is biased, he compare senior developer to VP/CTO roles. It way more difficult to become someone high in management structure. Since manager ratio is 5-10 to one manager, and high level manager is for every 50-100 employees you need to very lucky, in right place and time.
Now exchange "Management" in the first sentence with "Programming in a team" ;)