At my last job I wasn't micro- but nano-managed - the "project manager" sometimes sat next to me and looked at me while I was debugging code. The IT sector definitely has its share of morons.
This was based on observing 4 people (CIO and managers from intermediate levels) standing behind some poor helpdesk guy while he fixed a problem with the CEO's desktop background being the wrong picture or something....
Hourly rates:
$30 $60 if you watch $120 if you help
A good project manager will be confident in their position and in doing whatever they can to help the project and won't mind. But that type of person wouldn't be looking over your shoulder unless invited.