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AM is a step up from AE/Snr AE. It gives you the opportunity to show that you are experienced and capable beyond the junior level and able to work with more autonomy. If you are a really strong AM yes you will be given more challenging tasks but in the right team/ agency you will be expected to do these tasks with support and direction from from senior team members (AD or snr AM). If you have no other junior people in your team yes you will have to continue doing the more basic account tasks but the idea is you can do these easily, with a strong knowledge of the process and will have the capacity to do other tasks and be more proactive/ productive team member. Rest assured we all have to do admin, irrespective of your seniority! We all report into someone else!