I've seen a lot of people around that age strike out on their own and start new businesses. I think that would be the "advancement" path for those who are interested in that.
That's exactly where I'm at. Building a startup from 20 years of accumulated experience in enterprise. I see a massive pain point and no tool that really addresses it - just a bunch of hacks and workarounds that everyone uses.
I like a lot of things about enterprise development, but I dislike a bunch of things, too. If this all works, I get to create a startup environment and total control (much more pleasant working conditions) and the potential for more substantial reward, but I can keep working on problems I like to work on.