Book shows, promote the band, set up tv, radio, and live interviews and gigs to help promote them, deal with the money aspect of the band, negotiate money when it comes to booking shows, make sure the members are taken care, book hotels and travel accomidations, theres alot to it. You pretty much do everything. Your pay depends on the bands popularity and their pay - the more money they bring in per show the higher you get paid also.
you should try book the band at cool places and trying to get interviews. A manager schedules the shows and transportation and bookings. My manager used at get paid 25% when I modeled. But you could always bargin with the band. :)