A tech lead isn’t a manager and may not even get a raise. But it’s a reflection of your leadership skills as you climb the ladder.
On just about every engineering team, there’s someone who has a reputation for specialized skills or specific subject area knowledge that other team members end up turning to for advice. Maybe they will help new joiners improve their workflow or code quality. Sometimes they represent the team in dealings with management, helping to figure out the best path forward on specific projects or feature rollouts.
In some organizations, this role is eventually formalized, and such people are given the title of tech lead.