This is a very challenging question and situation for designers. As some of the comments here suggest, I don't think the solution is 'go solo and start your own thing'. I mean, that's fantastic if is what you desire, but still, doesn't solve or address the problem inherent to the question raised here.
Some companies like Atlassian and Zendesk have created paths for designers to choose what direction they want to take their careers i.e. Management vs IC; and help you progress on those 2 directions, which ever you choose. Also, it won't mean that those in management will earn more than those IC's. Salaries are divided equally on both. Given that now design is a more ingrained cog in the overall business strategy of any company and designers are not cookie cut versions of other professions where the obvious road to progression is management, like sales or accountancy, the companies that understand this, will be the ones that will win on design and produce better design. It's only a matter of time till the scope of motivations designers have and how they want to grow their careers becomes more obvious and as a result it'll have a much larger impact on companies.
This is a very challenging question and situation for designers. As some of the comments here suggest, I don't think the solution is 'go solo and start your own thing'. I mean, that's fantastic if is what you desire, but still, doesn't solve or address the problem inherent to the question raised here.
Some companies like Atlassian and Zendesk have created paths for designers to choose what direction they want to take their careers i.e. Management vs IC; and help you progress on those 2 directions, which ever you choose. Also, it won't mean that those in management will earn more than those IC's. Salaries are divided equally on both. Given that now design is a more ingrained cog in the overall business strategy of any company and designers are not cookie cut versions of other professions where the obvious road to progression is management, like sales or accountancy, the companies that understand this, will be the ones that will win on design and produce better design. It's only a matter of time till the scope of motivations designers have and how they want to grow their careers becomes more obvious and as a result it'll have a much larger impact on companies.