Compare the trade-offs
Like everyone you're asking yourself what do you want to be?
If you don't go too far up the management ladder, I think you can move back to engineering. As an manager, you'll probably still have opportunities to keep your engineering skills from atrophying.
Management will broaden your skills into areas that you would never encounter as an engineer. You'll have a better idea of how the business works and understand how finance, marketing, sales, et. al. work with IT to power the business.
If you can combine technical depth as an engineer and business breadth as a manager, then you will have no problem finding a job. Those kinds of employees are in short supply everywhere.
