First off, because nobody leaves Lloyd and if you did, he'd find you. Second, because where you gonna go, ladies? You think it's bad in here at 85B? You don't have a clue what it's like out there. Lloyd could do unspeakable things to you with a fresh set of whiteboard markers, make you service the golden scrots for trade approval and choke you out with his giant squid and you know what you'd say, were you not focusing on trying to breathe? You'd say thank you, LB, can I have another. Because the alternative is worse, at least according to Sandler O'Neill analyst Jeff Harte, who recently met with the GS brass:
Management did not seem overly concerned about potential employee departures in the wake of a lower than normal compensation ratio of 36% for 2009. Management believes the ability to pay employees is more about the relative compensation figure than the pay-out ratio, and most employees feel the long-term earning potential at the firm remains higher than at a competitor's firm. In fact, Mr. Heller stressed that in his 21 years at GS, he has never felt better about the firm's ability to retain talent as he does today.