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No, you’re responsible for a team. It varies from company to company but if you want your team to be successful you’ll have to dedicate time to each one of them individually.
How do you feel about the company overall? If you are fairly happy with what you see, and wanting to move into a leadership position, now would probably be the best time to do that. I think there is the obvious, more responsibility managing people, but outside of that the company is the biggest variable.