In my job, I do everything from run samples according to established protocols, find ways to analyze out-of-the-ordinary samples, maintain and repair fancy machinery, and occasionally design and build new peripheral instrumentation from scratch.
All that being said, I'm probably about 50% time at a desk (emailing, organizing, data analysis, understanding computers for older coworkers) and 50% in the lab, which I think is a fairly typical ratio.
One good thing about the lab manager job is that generally the grinding analytical chemistry work is now someone else's to do. Though in my experience any inclination towards running your own scientific projects alongside the analytical work is encouraged.
Also, I keep fairly regular hours (40-45 a week). In a relatively high-level version of this job, in the Bay Area HCOL, I make about 70k.