I'm currently in the middle of that - at my last job I was tech lead, took over some management duties after my manager left but I was still officially an IC. I had the same concerns as you.<p>It was trivially easy to run a high performing team in a well oiled org. I was basically doing IC work with some career dev and 1:1s. Not high stress, processes were in a good spot etc.<p>Since then I joined a high growth startup as a manager in a brand new team, with somewhat under average engineering practices, more junior engineers in general, less mature processes etc.<p>In addition to that my new team had a couple contractors, with a couple low performers.<p>It is a much harder job, managing under performers (coach into improving, and then managing them out if it still doesn't work out), coordinating process changes, staying away from my engineering skills while still trying to nudge engineers into taking ownership.<p>I may or may not go back into ICs, I like both roles, and sometimes I miss a good day of technical puzzle-solving or cranking out pretty architectures or nice code.
I will echo what others have said, the org would make or break the role. At an org with a bad culture I would rather be an engineer.<p>I'd say try it, it's made me a better engineer, and I would have regretted not trying. You can always go back to IC if you realize you don't enjoy it as much. Some of the parts I enjoy less about my work were also problems I had to deal with as a principal/staff eng anyway (politics, maneuvering to get projects rolling, syncs and check ins and scrum of scrums, etc).