Multiple sclerosis (MS) patients often present with lesions in spinal cord magnetic resonance (MR) volumes. However, accurately detecting these lesions is challenging and prone to inter-and intra-rater variability. Deep learning-based methods have the potential to aid clinicians in detecting and segmenting MS lesions, but can also be affected by rater variability. This study assesses the inter-and intra-rater variability in manual segmentation of spinal cord lesions, and evaluates raters and a state-of-the-art nnU-Net model against a ground truth (GT) segmentation of a senior expert. Four experts segmented twelve spinal cord MR volumes from six patients twice, at a time distance of two weeks. Considerable inter-and intra-rater variability were observed, with the total number of detected lesions ranging from 28 to 60, depending on the rater. Moreover, the segmented volumes of individual lesions varied substantially between raters. All raters and the model achieved high precision when evaluated against the senior expert GT, but sensitivity was notably lower. These results motivate the need for more sensitive automated methods to aid clinicians in lesion detection, and suggest that consideration should be given to inter-rater variability when training and evaluating automated methods.