One of my co-workers decided to go the project management route. Our boss at the time was very supportive, letting him help with the project management tasks for the current release while still doing some coding duties. This was probably 5 years ago. He took on project management for another product for a year and half. And then, what really made his reputation, a high visibility, high risk project, etc. etc. Now managing 40 people. If I had to hazard a guess, he's making double what he did as a coder and happier because he was never happy coding/fixing bugs. If you're not happy coding, maybe management is a better fit for you. Beware that many of those who leap the chasm to management don't make it and those who do have to pull themselves up to the edge of the cliff with their fingernails.

In general, the people I know who were coders who have risen up in the ranks (probably 2,3 levels above me) in management had a game plan. They knew what they were trying to accomplish. They had a very good mentor. And they've done it.