I did transition, started .. well 14 years ago with development and slowly transitioned to management more and more.
Now, imho, there's a big distinction between a manager / team lead, and a pure manager that has well, close to none experience in development. You will still be involved in technical decisions and application architecture, but you will need to 'catch up' on people skills.
The biggest thing that changes technical wise is that you have to live for a longer time with development decisions (frameworks, development patterns etc) and you need to take into consideration your team's expertise as well.
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