Seven months after a historic settlement between Goldman Sachs and a group of women who sued the financial giant for pay discrimination, not much seems to have changed on Wall Street. Serious challenges persist for women who work in finance. Women in North America held only 21% of senior leadership jobs in financial services in 2022 and of 15 industries in a recent survey, finance and insurance had the biggest average pay gaps. I wrote about these issues today for Capital & Main.
Tag Archives: ellen pao
Don’t Kid Yourself: Departures of Roger Ailes, Kevin Roberts Change Nothing in Sex Discrimination
In a matter of weeks, two senior executives at global businesses lost their jobs related to alleged sexual harassment or clueless talk about gender.
CEO Roger Ailes is out at Fox News. Chairman Kevin Roberts is out at Saatchi & Saatchi.
On the surface, it almost looks like we’ve made some progress on the sex discrimination front. Dig a little deeper, though, and it looks like more of the same: a flurry of public attention that ultimately will peter out.
I explained why neither case is a game-changer for women at work in my column today for TheStreet.com.
Like Anita Hill vs. Clarence Thomas, Ellen Pao Lost Kleiner Perkins Gender Fight But Women Gained
Sometimes, even a loss can be a win.
A San Francisco jury said last month that Kleiner Perkins Caufield & Byers did not discriminate or retaliate against its former junior partner, Ellen Pao. From my column for TheStreet.com:
The four-week trial had received intense media coverage for its allegations of porn-star talk in business settings and exclusion of women from company events. Rather than invite a woman on a company ski trip, “Why don’t we punt on her and find 2 guys who are awesome?” a Kleiner partner suggested in an email.
Pao lost. But women didn’t. The case brought huge attention to workplace issues that rarely get aired. Most employers require employees to agree to give up their right to sue before they even show up for the first day of work. So-called “mandatory arbitration” agreements keep gender discrimination complaints out of the public eye, and leave violators of our discrimination laws unaccountable.
You can read my column here.
Ellen Pao’s Case Against Kleiner Perkins Has Porn Star Talk, High Stakes for Women
Twenty years ago, there was Smith Barney’s Boom-Boom Room. Today, it’s Ellen Pao v Kleiner Perkins, the very high-profile sex discrimination trial that’s been going on for four weeks in San Francisco Superior Court.
Pao was a junior partner at Kleiner from 2005 to 2012, when she was fired. She says the firm discriminated against her, leaving her out of important meetings and passing her over for promotion while men moved ahead. Kleiner says she was a difficult employee who had a “female chip on the shoulder.” I wrote about it in my column today for TheStreet.com:
Among the affronts she has shared with the jury are the story of the female partner on a business trip who opened her hotel room door to see an uninvited Kleiner partner holding a bottle of wine and wearing his bathrobe; the co-ed business flight on a private jet where the conversation turned to porn stars; and the Kleiner meeting where a male partner approached a female partner to ask her to take notes. When the woman declined, he asked Pao to do it.
If Pao loses, it won’t bode well for women with grievances in the future. Women considering a lawsuit could wind up being warned “You know what happened to the woman in San Francisco,” said Linda Friedman, the Chicago lawyer who brought gender suits against brokerage firm Olde Discount Corp. in 1995, Smith Barney in 1996 and Merrill Lynch in 1997. You can read my story here.
4 Things Kleiner Perkins Doesn’t Want Jury to Hear in Ellen Pao’s Sex Bias Case
Oral arguments are expected to begin Tuesday in the sex discrimination case against the powerful Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers.
Ellen Pao, who sued Kleiner nearly three years ago, accused the firm of gender discrimination, failure to prevent discrimination and retaliation. I wrote about her case in my column for TheStreet last week.
Pao, who is interim CEO of the micro-blogging site Reddit, says that after she complained of discrimination at Kleiner, she went from being a star among junior partners to an employee viewed as a whiner who had “issues and clashes” with colleagues. She says one coworker badgered her into having an affair, and that a partner at the firm gave her a copy of a book of poetry with sexual imagery.
Kleiner has asked the judge to clear the courtroom when there’s evidence being presented about its proprietary business information and financial performance, among other things. Even if it wins on that motion, there are sure to be plenty of fireworks that remain for public consumption.
When Pao filed her suit in 2012, I noted this about the sad history of women in the workplace a column for Bloomberg View:
Twelve of Kleiner’s 49 partners are women, and in the venture-capital business, that’s considered very, very good. How is it that 20 years after Anita Hill broke the silence about gender discrimination and harassment at work, there are still companies that can take a bow for being gender-equality heroes when 75 percent of their leaders are men?
You can read the Bloomberg column here. The more recent column for the Street is here.