Managers: What's REALLY keeping you from reaching Director/VP level?

Just hit my 5th year as a Senior Manager at a F500 company and starting to feel like I'm hitting an invisible ceiling. Sure, I get the standard "keep developing your leadership skills" in my reviews, but we all know there's more to it.

Looking for raw honesty here - what are the real barriers you're facing? Politics? Lack of executive presence? Wrong department? That MBA you never got?

Share your story - especially interested in hearing from those who've been in management 5+ years. What do you think is actually holding you back?

Edit: Didn’t expect to get so many responses, but thank all for sharing your stories and perspectives!