To answer this question accurately you have to look at it from the perspective of the person who has the authority to make the hires (e.g., C-level, VP, people with financial control).
Aside from the multiplier effect of a good manager which is mentioned in a few other comments, a manager is someone to whom the employer can delegate responsibility. This is usually the most valued skill set an employee can possess -- if as the owner/CEO/VP/General Manager you can just take a certain area of the business, give it to that person, and sleep easy at night knowing that it's taken care of, that peace of mind is worth any price because you're now able to focus your energy on other areas of the business.
The same cannot generally be said about any IC (even though in come cases great ICs can have a remarkable impact on the business).
As you go deeper down a corporate hierarchy motivations may become distorted, but fundamentally this is how it works at the top.
Comments
To answer this question accurately you have to look at it from the perspective of the person who has the authority to make the hires (e.g., C-level, VP, people with financial control).
Aside from the multiplier effect of a good manager which is mentioned in a few other comments, a manager is someone to whom the employer can delegate responsibility. This is usually the most valued skill set an employee can possess -- if as the owner/CEO/VP/General Manager you can just take a certain area of the business, give it to that person, and sleep easy at night knowing that it's taken care of, that peace of mind is worth any price because you're now able to focus your energy on other areas of the business.
The same cannot generally be said about any IC (even though in come cases great ICs can have a remarkable impact on the business).
As you go deeper down a corporate hierarchy motivations may become distorted, but fundamentally this is how it works at the top.
yup i agree, find it weird that "delegate authority" is so far down the conversation here.