Given a choice of being a team manager vs project manager - what would you choose and why?

I prefer to be a project manager

As the project manager have some team managers below him 

So it will be more chalenging 

Can't understand your question because every manager have some team members.

If your meaning is team management in operations, marketing or business development. it is much tough job than project management.

Ultimately every one will prefer project management

Team Manager is better becuase it is closer to technicality .

Project Manager is closer to managment

I will prefer the position of Project Manager. The post of Project Manager is senior position who involved in all phases of project, interact with Board Members/Senior Management, responsible to accomplishment the tasks, recruit manpower, procurement of plant and machinery etc.

I would prefer Team Manager, because handling and getting peoples confidence is more challenging than the project you handle. I agree the fact that for any Project you need to have team members to complete the project. But When you define yourself as Project manager there would be a gap with in your team and once you establish an excellen team manager ultimately you and your team will get more responsibiliies. Secondly you can create more team managers and guide them to be a good leaders.

It depends on the definition of team/project manager.

a team manager will be more active with members since they will take a specific job/assignment while the project manager will follow up with Team managers timeline and progress.

So I prefer to do either role.

i would go with project manager. why! because I'll like like to be involved in the project all the way to the end. unlike team manager, might be involved in a task or two and his job is done.