Women Say #MeToo Is Hurting Their Finance Career Prospects



Posted by Ed 6 mths ago
Wall Street executives have become so terrified of being falsely accused of sexual misconduct - or of having their words and intentions "misinterpreted" - that they're afraid to walk within 12 paces of a junior female employee without a phalanx of HR reps present to oversee the encounter.

Bloomberg even came up with a catchy name for the phenomenon: "The Pence Effect" - a reference to Mike Pence's policy of never dining alone with a woman who isn't his wife. Ironically, the "Pence Effect" has become so widespread that it's starting to hurt the chances of young women hoping to break into the industry.

Across Wall Street, men are adopting controversial strategies for the #MeToo era and, in the process, making life even harder for women by creating an atmosphere of de facto gender segregation.

Interviews with more than 30 senior executives suggest many are spooked by #MeToo and struggling to cope. "It’s creating a sense of walking on eggshells," said David Bahnsen, a former managing director at Morgan Stanley who’s now an independent adviser overseeing more than $1.5 billion.

This is hardly a single-industry phenomenon, as men across the country check their behavior at work, to protect themselves in the face of what they consider unreasonable political correctness - or to simply do the right thing. The upshot is forceful on Wall Street, where women are scarce in the upper ranks. The industry has also long nurtured a culture that keeps harassment complaints out of the courts and public eye, and has so far avoided a mega-scandal like the one that has engulfed Harvey Weinstein.



thekok 6 mths ago
Women had better tread carefully and not push it, because the blowback is already in full swing. Abusing the system aimed at men is going to shoot them in the foot. Men are getting fed up with the BS 'believe all women' bias. Just because someone is of a gender, race or any other trait does not make them believable off the bat. The BS coming out of the United States is not going to fly well over on this side of the pond.
The extreme left radicalization and rhetorical garbage regurgitated is sickening and they are amping it up fast from all media outlets.
Women pushing this nonsense must be called out and shamed. Women wanted equality. They got it. Which means also equal protections under the law. Not "Im equal until I dont want to be equal on this this and this point here". No more double standards - having your cake and eating it to- nonsense, ya dig honey!?

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