The Royal Bank of Canada (RBC) is facing a lawsuit claiming that it fostered a “boys’ club” environment and engaged in sex-based discrimination against female bankers, as reported by Bloomberg.
The lawsuit, filed in Manhattan last month by a former employee, alleges that over 13 years she earned hundreds of thousands of dollars less than her male colleagues and saw her bonus cut by 30% after maternity leave, part of a so-called “pregnancy tax.” The plaintiff claims she was overlooked for promotions in favor of men and faced exclusion from golf outings, drinks, and sporting events. One manager allegedly told her that he wanted to hire “a young guy, who has no family ties, that is fine with going out every night for drinks or dinner.”
RBC disputes the allegations, calling them “entirely without merit” and asserting the alleged conduct was “nothing more than what a reasonable person would consider ‘petty slights and trivial inconveniences.’” The bank emphasized it is committed to a “fair and respectful workplace” and does not tolerate discrimination.
In 2023, Starling Insights published "The Era of Accountability," a Deeper Dive report discussing a global trend of employees in every industry holding their employer accountable for conduct that does not align with their own values. In a Preamble therein, Jamie Fiore Higgins, author of Bully Market: My Story of Money and Misogyny at Goldman Sachs, offers a harrowing recounting of the pressures and outright abuses she suffered during her career.
Join The Discussion
Sign in and be the first to comment.