freshmeat is pretty cynical. Management positions, like everything else, are what you make them. True, your lifestyle will suffer if you are a frontline manager... but you can always advance into service planning, rules and operating practices, car and locomotive management, sales and marketing, etc. live a normal, 9-5 existence, better benefits, AND make a difference - if you set your mind to it. It makes for a lot of satisfaction seeing a train go by and knowing that you were personally responsible for winning the business that fills that train or for creating the schedule that cut the train's transit time by X hours. Most experienced mid-level managers make $75-150k/yr when you include annual bonuses.
By the way, you can also be involved in railroading without working for a carrier. There are always openings to work in rail logistics for a shipper, such as ExxonMobil, International Paper, Duke Power, etc. Often, the companies control large railcar fleets and you would get personally involved in leasing/buying rail cars, car maintenance, setting up rail-truck transloading operations, intraplant operating practices, loading/unloading procedures, rate and service negotiations (many companies spend $50 million+ per year on rail freight), etc. Trust me, some of these guys know more about railroading than the railroads they work with! Money? This is pretty variable... you should expect $50-75k in a smaller company. Larger shippers can pay up to $125K+. And you don't have to pay RRB!