Leadership is a taught skill. Start learning.
If you want to get promoted, your current company has sent you a strong message... it is up to you to listen to it and understand it.
Personally, I've stayed on the technical side of the house, no regrets. As a Principal Software Engineer... you'd have to pay quite a bit for me as a lead.
That said, I have led teams, and enjoy it.
I recommend the following books to anyone interested in leadership: And if you are a Senior looking to go to Principal, you are.
- Getting to Yes.
- Difficult Conversations.
Now I also recommend: https://www.youtube.com/watch?v=rStL7niR7gs
The last video seems odd... until you realize it is how power works.
Think about why your manager has power, etc... Why odd things happen. And that video often explains it.
Good luck. Maybe it is time to pump the brakes on the car, or turn. Just some advice.