--- title: "Meaning & Key Takeaway of: When the record company pays you an…" description: "\"When the record company pays you an advance, it is just that - an advance. And it's at worse rates than any bank would charge you to pay them back.\" — ..." image: "https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg" --- # When the record company pays you an advance, it is just… ![“When the record company pays you an advance, it is just that - an advance. And it's at worse rates than any bank would charge you to pay them back.” quote by Duff McKagan](https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg) [Download](https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg) [Open image](https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg) > “When the record company pays you an advance, it is just that - an advance. And it's at worse rates than any bank would charge you to pay them back.” [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker warns that advances from record labels are essentially loans with high interest, likening them to costly bank loans. **In simple terms:** Advances are costly loans with high interest. Key Takeaway Treat advances as financial liabilities. Themes finance music industry risk Mood cautious pragmatic Type advice financial When to use this quote - artist contracts - budget planning - career negotiations - financial advice Key Concepts loans interest rates contractual obligations Questions to Reflect On - How can artists negotiate better terms? - What alternatives exist to traditional advances? A Different Perspective May discourage seeking necessary funding. ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Company](https://sms4smile.com/quotes/about/company/) [Song](https://sms4smile.com/quotes/about/song/) ## Related quotes > [Don't just give me an advance. I want a percentage.](https://sms4smile.com/quotes/pitbull/don-t-just-give-me-an-advance-i-want-a-percentage/) [Pitbull](https://sms4smile.com/quotes/author/pitbull/) > [Of course we all want a record deal, get the big check, and all that, but it might not be good for you in…](https://sms4smile.com/quotes/benny-the-butcher/of-course-we-all-want-a-record-deal-get-the-big-check-and-all-that/) [Benny the Butcher](https://sms4smile.com/quotes/author/benny-the-butcher/) > [Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.](https://sms4smile.com/quotes/urjit-patel/monetary-policy-transmission-encompasses-the-whole-continuum-of/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [I might have added zeros to my bank balance and followers to my Instagram account, but apart from that, I still lead a middle-class…](https://sms4smile.com/quotes/vikrant-massey/i-might-have-added-zeros-to-my-bank-balance-and-followers-to-my/) [Vikrant Massey](https://sms4smile.com/quotes/author/vikrant-massey/) > [True wealth is not measured by how much money you've got in the bank or how many toys you've got. Some of the happiest…](https://sms4smile.com/quotes/rashad-evans/true-wealth-is-not-measured-by-how-much-money-you-ve-got-in-the-bank/) [Rashad Evans](https://sms4smile.com/quotes/author/rashad-evans/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about…](https://sms4smile.com/quotes/jeroen-dijsselbloem/if-there-is-a-risk-in-a-bank-our-first-question-should-be-okay-what/) [Jeroen Dijsselbloem](https://sms4smile.com/quotes/author/jeroen-dijsselbloem/) > [I couldn't be working in a bank and launch a clothing line. It's only because cinema gave me a lot of access that I…](https://sms4smile.com/quotes/vijay-deverakonda/i-couldn-t-be-working-in-a-bank-and-launch-a-clothing-line-it-s-only/) [Vijay Deverakonda](https://sms4smile.com/quotes/author/vijay-deverakonda/) > [Remember, your bank will never call and ask you to hand over account numbers or say you must swap money from one account to…](https://sms4smile.com/quotes/angela-rippon/remember-your-bank-will-never-call-and-ask-you-to-hand-over-account/) [Angela Rippon](https://sms4smile.com/quotes/author/angela-rippon/) > [The situation in the West Bank and Gaza involves a military occupation amid urban guerrilla warfare, analogous to the British security measures in Northern…](https://sms4smile.com/quotes/jack-schwartz/the-situation-in-the-west-bank-and-gaza-involves-a-military/) [Jack Schwartz](https://sms4smile.com/quotes/author/jack-schwartz/) > [What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is…](https://sms4smile.com/quotes/warren-stephens/what-we-prefer-to-do-is-operate-our-investment-bank-in-a-way-that-is/) [Warren Stephens](https://sms4smile.com/quotes/author/warren-stephens/) > [You can look at the West Bank. Cities are like prisons. They can be closed quickly by the Israeli forces, and everything stops in…](https://sms4smile.com/quotes/hassan-nasrallah/you-can-look-at-the-west-bank-cities-are-like-prisons-they-can-be/) [Hassan Nasrallah](https://sms4smile.com/quotes/author/hassan-nasrallah/) > [I earnestly feel terrible for any mistakes at the bank.](https://sms4smile.com/quotes/steve-mnuchin/i-earnestly-feel-terrible-for-any-mistakes-at-the-bank/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [My aim was to make money for the bank. You lose track of the amounts involved when you are engaged in this kind of…](https://sms4smile.com/quotes/jerome-kerviel/my-aim-was-to-make-money-for-the-bank-you-lose-track-of-the-amounts/) [Jerome Kerviel](https://sms4smile.com/quotes/author/jerome-kerviel/) > [It isn't what a man's got in the bank, but what he's got in his head, that makes him a great merchant.](https://sms4smile.com/quotes/george-horace-lorimer/it-isn-t-what-a-man-s-got-in-the-bank-but-what-he-s-got-in-his-head/) [George Horace Lorimer](https://sms4smile.com/quotes/author/george-horace-lorimer/) ## More by Duff McKagan > [“On March 31, 1994, I went to LAX to catch a flight from L.A. to Seattle. Kurt Cobain was waiting to take the same…](https://sms4smile.com/quotes/duff-mckagan/on-march-31-1994-i-went-to-lax-to-catch-a-flight-from-l-a-to-seattle/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [I think after 9/11, here in America, I saw something extraordinary. I saw neighbors looking after neighbors. I don't think anybody asked who anybody…](https://sms4smile.com/quotes/duff-mckagan/i-think-after-9-11-here-in-america-i-saw-something-extraordinary-i/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > ['Chip Away' is somewhat of a rail against cable news and divisive agendas... all for the almighty dollar.](https://sms4smile.com/quotes/duff-mckagan/chip-away-is-somewhat-of-a-rail-against-cable-news-and-divisive/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“Eventually we found ourselves in the middle of an onion field. When you’re hungry and don’t know where and when your next meal is…](https://sms4smile.com/quotes/duff-mckagan/eventually-we-found-ourselves-in-the-middle-of-an-onion-field-when/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“I guess we can all look back and see things in our lives that we could or should have done differently—and better—and”](https://sms4smile.com/quotes/duff-mckagan/i-guess-we-can-all-look-back-and-see-things-in-our-lives-that-we/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [Words and titles can be used as dictums and guides for all of us. A certain word can suddenly snap us back to a…](https://sms4smile.com/quotes/duff-mckagan/words-and-titles-can-be-used-as-dictums-and-guides-for-all-of-us-a/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“We called the result “Welcome to the Jungle.” We played the song live for the first time when we opened a show at the…](https://sms4smile.com/quotes/duff-mckagan/we-called-the-result-welcome-to-the-jungle-we-played-the-song-live/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“a couple years prior we were hitchhiking to a gig with no gear. Now we were on a fucking tour bus. We could eat…](https://sms4smile.com/quotes/duff-mckagan/a-couple-years-prior-we-were-hitchhiking-to-a-gig-with-no-gear-now-we/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“Far fewer people know that Slash is also a world-class Russian crouch-down-and-kick-your-legs-out dancer. And”](https://sms4smile.com/quotes/duff-mckagan/far-fewer-people-know-that-slash-is-also-a-world-class-russian-crouch/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [I think you can tell stories and give perspectives and yet still keep stuff for yourself, too. I keep a lot of my life…](https://sms4smile.com/quotes/duff-mckagan/i-think-you-can-tell-stories-and-give-perspectives-and-yet-still-keep/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“At the end of the European leg, our lead guitar player pulled a knife on our bus driver in England. I”](https://sms4smile.com/quotes/duff-mckagan/at-the-end-of-the-european-leg-our-lead-guitar-player-pulled-a-knife/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [If you don't have a good rhythm section, your band is toast; you're a bar band. Good rhythm section, you've got a chance to…](https://sms4smile.com/quotes/duff-mckagan/if-you-don-t-have-a-good-rhythm-section-your-band-is-toast-you-re-a/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [I had a column for the 'Seattle Weekly' for five years, and there was one column that was called 'How To Be A Man,'…](https://sms4smile.com/quotes/duff-mckagan/i-had-a-column-for-the-seattle-weekly-for-five-years-and-there-was/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [“we did an acoustic set at CBGB on October 30, 1987, where we debuted “Patience.”](https://sms4smile.com/quotes/duff-mckagan/we-did-an-acoustic-set-at-cbgb-on-october-30-1987-where-we-debuted/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) > [One of my first memories is marching with my mom. I was in kindergarten with with the Catholic ladies when Martin Luther King Jr.…](https://sms4smile.com/quotes/duff-mckagan/one-of-my-first-memories-is-marching-with-my-mom-i-was-in/) [Duff McKagan](https://sms4smile.com/quotes/author/duff-mckagan/) [Explore all 152 Duff McKagan quotes ](https://sms4smile.com/quotes/author/duff-mckagan/) ## More Back quotes > [I always watch my matches back 100 times afterwards because that's how I improve. This is something I've always done, even in NXT.](https://sms4smile.com/quotes/mandy-rose/i-always-watch-my-matches-back-100-times-afterwards-because-that-s/) [Mandy Rose](https://sms4smile.com/quotes/author/mandy-rose/) > [I honestly would like to get that Frankie fight back.](https://sms4smile.com/quotes/chad-mendes/i-honestly-would-like-to-get-that-frankie-fight-back/) [Chad Mendes](https://sms4smile.com/quotes/author/chad-mendes/) > [Drumming's pretty physical. We sit at the back of the stage getting beat up like a workhorse.](https://sms4smile.com/quotes/tommy-lee/drumming-s-pretty-physical-we-sit-at-the-back-of-the-stage-getting/) [Tommy Lee](https://sms4smile.com/quotes/author/tommy-lee/) > [I never want to look back on any moment and say I could have done more. So I go all in.](https://sms4smile.com/quotes/scott-haze/i-never-want-to-look-back-on-any-moment-and-say-i-could-have-done/) [Scott Haze](https://sms4smile.com/quotes/author/scott-haze/) > [I wish that I had known back then that a mastery of process would lead to a product. Then I probably wouldn't have found…](https://sms4smile.com/quotes/elizabeth-george/i-wish-that-i-had-known-back-then-that-a-mastery-of-process-would/) [Elizabeth George](https://sms4smile.com/quotes/author/elizabeth-george/) > [It's what the people wanted at the time, but the country could not be half-segregated and half-integrated, just as it could not be half-slave…](https://sms4smile.com/quotes/george-wallace/it-s-what-the-people-wanted-at-the-time-but-the-country-could-not-be/) [George Wallace](https://sms4smile.com/quotes/author/george-wallace/) > [I've always stuck my arms behind my back anyway when trying to block a shot in the penalty area.](https://sms4smile.com/quotes/millie-bright/i-ve-always-stuck-my-arms-behind-my-back-anyway-when-trying-to-block/) [Millie Bright](https://sms4smile.com/quotes/author/millie-bright/) > [I'm sure at some point I will get back into coaching, but right now I need to focus completely on my kids.](https://sms4smile.com/quotes/patrick-ewing/i-m-sure-at-some-point-i-will-get-back-into-coaching-but-right-now-i/) [Patrick Ewing](https://sms4smile.com/quotes/author/patrick-ewing/) > [Any time someone achieves success before they've earned it, it always comes back to haunt them.](https://sms4smile.com/quotes/ron-white/any-time-someone-achieves-success-before-they-ve-earned-it-it-always/) [Ron White](https://sms4smile.com/quotes/author/ron-white/) > [In Congress, Florida Republicans worked with the Trump administration to secure funding for coastal restoration projects following the devastating impacts of Hurricanes Irma and…](https://sms4smile.com/quotes/michael-waltz/in-congress-florida-republicans-worked-with-the-trump-administration/) [Michael Waltz](https://sms4smile.com/quotes/author/michael-waltz/) > [Back in the really olden days, dinner was seldom a ceremonial event for U.S. families. Only the very wealthy had a separate dining room.…](https://sms4smile.com/quotes/nancy-gibbs/back-in-the-really-olden-days-dinner-was-seldom-a-ceremonial-event/) [Nancy Gibbs](https://sms4smile.com/quotes/author/nancy-gibbs/) > [We're all painfully aware of how suddenly violence can occur, how crippling it is, and how survivors have to find a way back from…](https://sms4smile.com/quotes/paul-dini/we-re-all-painfully-aware-of-how-suddenly-violence-can-occur-how/) [Paul Dini](https://sms4smile.com/quotes/author/paul-dini/) > [Ronaldo is just an athlete. He works so hard and back to back; he is always there. But if you work hard, can you…](https://sms4smile.com/quotes/edgar-davids/ronaldo-is-just-an-athlete-he-works-so-hard-and-back-to-back-he-is/) [Edgar Davids](https://sms4smile.com/quotes/author/edgar-davids/) > [I do spend a lot of weekends on the road. I have to pace myself. It can be pretty busy, but I'm not out…](https://sms4smile.com/quotes/gary-sinise/i-do-spend-a-lot-of-weekends-on-the-road-i-have-to-pace-myself-it-can/) [Gary Sinise](https://sms4smile.com/quotes/author/gary-sinise/) > [British Forces should be in a position to give back in a ten fold measure any attack that the Germans may attempt.](https://sms4smile.com/quotes/frederick-banting/british-forces-should-be-in-a-position-to-give-back-in-a-ten-fold/) [Frederick Banting](https://sms4smile.com/quotes/author/frederick-banting/) Browse all 9,709 Back quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "When the record company pays you an advance, it is just that - an advance. And it's at worse rates than any bank would charge you to pay them back.", "creator": { "@type": "Person", "name": "Duff McKagan" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/duff-mckagan/when-the-record-company-pays-you-an-advance-it-is-just-that-an/", "about": { "@type": "Thing", "name": "Back" }, "@id": "https://sms4smile.com/quotes/duff-mckagan/when-the-record-company-pays-you-an-advance-it-is-just-that-an/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg", "contentUrl": "https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg", "url": "https://sms4smile.com/quotes/i/e34/duff-mckagan-2740_back_when-the-record-company-pays-you-an-adva_1166727.jpg", "width": 1080, "height": 1080, "caption": "“When the record company pays you an advance, it is just that - an advance. And it's at worse rates than any…” — Duff McKagan", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Duff McKagan", "item": "https://sms4smile.com/quotes/author/duff-mckagan/" }, { "@type": "ListItem", "position": 4, "name": "When the record company pays you...", "item": "https://sms4smile.com/quotes/duff-mckagan/when-the-record-company-pays-you-an-advance-it-is-just-that-an/" } ], "@id": "https://sms4smile.com/quotes/duff-mckagan/when-the-record-company-pays-you-an-advance-it-is-just-that-an/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```