Is it too late to move to a product company after ten years?
No, but the bar changes shape. Companies stop assessing potential and start assessing demonstrated scope, so the switch depends on whether you can show architecture decisions, technical influence and outcomes rather than on the number of years you have. Senior candidates who prepare system design seriously tend to convert; those who rely on experience alone tend to be downlevelled.
Should I target an individual contributor or a management role?
Pick the one you actually want to do daily for the next three years, because switching tracks after joining is harder than choosing correctly now. Product companies maintain genuine senior individual contributor ladders, so staying hands-on is not a demotion. If your recent experience is coordination-heavy but you want to build, rebuild the technical evidence before you apply.
How do I prepare for a leadership or behavioural round?
Prepare five stories: a technical decision you owned, a conflict you resolved, a failure and what changed afterwards, a time you influenced without authority, and a project delivered under hard constraint. Each needs the situation, your specific action and a measurable result. Interviewers at this level probe for two or three follow-ups, so the stories have to be real.
Will I have to take a pay cut to switch at senior level?
Not usually, provided you enter at a level that matches your actual scope. Cuts typically happen when a candidate is downlevelled, which is an evidence problem rather than a market problem. Prepare the design and leadership rounds properly, aim for the level your ownership genuinely supports, and evaluate the offer on total compensation rather than on base alone.