I know this is a broad question and depends on personal choices. I'm wondering if you could provide some insights on choosing between IC and manager paths.
What are the factors to look into?
How fast or difficult is career growth in both the paths?
How do the work-life balance and day-to-day life look like in both these paths?
My eventual goal is to start a startup. Does having managerial experience help here or being strong senior/staff IC help here better?
This is a very broad generalization, but:
If your goal is to start a startup, the Big Tech managerial skills won't really help you. Your network will be important, and managers may have wider networks, but the actual management experience is unlikely to transfer over into a startup.
"the actual management experience is unlikely to transfer over into a startup."
Thanks a lot for the insight. I'm curious for the reason behind this. Is this because, managers in the big tech are very reactive to the issues they get, whereas for managing a startup, you need to be very proactive? Or is it because the issues in startups and big tech are fundamentally different?
The latter: the issues in startups and big tech are fundamentally different.
There are only two types of companies: those that have reached product-market fit (PMF) and those that haven't.
The way you should operate and hire is very, very different between PMF and non-PMF companies. Most startups don't have PMF (and will never get it), so it's foolish to apply the processes and tools of larger companies.