Maybe it's just semantics and terminology, but I consider those two very different roles (that admittedly are sometimes done by the same person). A manager has

Maybe it's just semantics and terminology, but I consider those two very different roles (that admittedly are sometimes done by the same person). A manager has personnel and admin responsibilities, and ultimately is the one that decides which projects I work on and how I spend my time. My manager can fire me, while my project lead cannot. My manager is the person I go to talk salary and related issues. I can be working on 3 different projects with 3 different project leads, while still having the same manager.