--- title: "Meaning & Key Takeaway of: For an investment banker, the choice…" description: "\"For an investment banker, the choice between a payment that doubles with every square on the chessboard and one that doubles with every other square is..." image: "https://sms4smile.com/quotes/i/2b8/paul-romer-12969_banker_for-an-investment-banker-the-choice-betw_813207.jpg" --- # For an investment banker, the choice between a payment… ![“For an investment banker, the choice between a payment that doubles with every square on the chessboard and one that doubles with every other square is more important than any other part of the contract. Who cares whether the payment is in pennies, pounds, or pesos?” quote by Paul Romer](https://sms4smile.com/quotes/i/2b8/paul-romer-12969_banker_for-an-investment-banker-the-choice-betw_813207.jpg) [Download](https://sms4smile.com/quotes/i/2b8/paul-romer-12969_banker_for-an-investment-banker-the-choice-betw_813207.jpg) [Open image](https://sms4smile.com/quotes/i/2b8/paul-romer-12969_banker_for-an-investment-banker-the-choice-betw_813207.jpg) > “For an investment banker, the choice between a payment that doubles with every square on the chessboard and one that doubles with every other square is more important than any other part of the contract. Who cares whether the payment is in pennies, pounds, or pesos?” [Paul Romer](https://sms4smile.com/quotes/author/paul-romer/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Choosing a payment structure with exponential growth matters more than currency type; the pattern of growth drives value. **In simple terms:** Payment growth pattern outweighs currency. Key Takeaway Focus on growth mechanisms in contracts. Themes finance exponential growth contract design Mood analytical cautious Type technical strategic When to use this quote - investment banking - contract negotiation - financial modeling Key Concepts time value of money geometric series Questions to Reflect On - How does exponential growth affect risk assessment? - When is a simpler payment model preferable? A Different Perspective Complex models may overlook practical implementation issues. ★ ★ ★ ★ ★ No ratings yet [Banker](https://sms4smile.com/quotes/about/banker/) [Choice](https://sms4smile.com/quotes/about/choice/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) ## Related quotes > [For a long time, I would go out of my way to have a personal appearance on the verge of an insane person, because…](https://sms4smile.com/quotes/kurt-braunohler/for-a-long-time-i-would-go-out-of-my-way-to-have-a-personal/) [Kurt Braunohler](https://sms4smile.com/quotes/author/kurt-braunohler/) > [I don't think you could have a banker serving in a major role in Washington in the next 10 years. 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Given the chance to move to one, hundreds of millions of…](https://sms4smile.com/quotes/paul-romer/in-the-developing-world-most-people-don-t-yet-live-in-big-well-run/) [Paul Romer](https://sms4smile.com/quotes/author/paul-romer/) > [Fracking is an amazing instance of discovery of many things that come together to make it much cheaper to extract oil and gas. In…](https://sms4smile.com/quotes/paul-romer/fracking-is-an-amazing-instance-of-discovery-of-many-things-that-come/) [Paul Romer](https://sms4smile.com/quotes/author/paul-romer/) > [My number-one recommendation is to invest in people. Humans that are well trained are the inputs into this discovery process. 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Or pick the best-looking banker in their firm and copy him.](https://sms4smile.com/quotes/tom-ford/banking-types-should-take-their-cue-from-gordon-gekko-or-pick-the/) [Tom Ford](https://sms4smile.com/quotes/author/tom-ford/) > [I don't think I could ever be in a band if we just had to go out there and play the record note for…](https://sms4smile.com/quotes/peter-frampton/i-don-t-think-i-could-ever-be-in-a-band-if-we-just-had-to-go-out/) [Peter Frampton](https://sms4smile.com/quotes/author/peter-frampton/) > [A banker is a person who is willing to make you a loan if you present sufficient evidence to show you don't need it.](https://sms4smile.com/quotes/herbert-v-prochnow/a-banker-is-a-person-who-is-willing-to-make-you-a-loan-if-you-present/) [Herbert V. Prochnow](https://sms4smile.com/quotes/author/herbert-v-prochnow/) > [“I’d rather be a whore than a banker.’ ‘That’s handy then. I’d rather be a banker who buys a whore.”](https://sms4smile.com/quotes/georgia-le-carre/i-d-rather-be-a-whore-than-a-banker-that-s-handy-then-i-d-rather-be-a/) [Georgia Le Carre](https://sms4smile.com/quotes/author/georgia-le-carre/) > [“A sound banker is not one who foresees danger and avoids it,” wrote John Maynard Keynes, “but one who, when he is ruined, is…](https://sms4smile.com/quotes/anonymous/a-sound-banker-is-not-one-who-foresees-danger-and-avoids-it-wrote/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Chicago's privatization mania began during Mayor Richard M. Daley's administration, which ran from 1989 to 2011. 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