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Yes, in some cases, a technical lead can also be a manager.
Yes, being a technical lead is worth it. Contrary to common misconceptions, being a tech lead actually means taking on more work and responsibilities rather than bossing others around. It offers the opportunity to have a greater impact and influence on projects, as well as the chance to develop leadership and management skills.
The position after a tech lead in the UK is typically an engineering lead, who manages a larger team.