When Eileen Murray left Bridgewater Associates last year, two things happened. For one, the former co-CEO of the world’s largest hedge fund learned (or relearned) that Ray Dalio & co. have an allegedly annoying tendency to pay women less than men. The second is that the mantle of “highest-ranking woman at Bridgewater” fell to Karen Karniol-Tambour, the firm’s head of investment research. And wouldn’t you know that she’s come to the same conclusion as her predecessor?
She made a formal complaint to top Bridgewater brass, including founder Ray Dalio and Chief Executive David McCormick, one of those people said. She asserted that men with similar or lesser responsibilities have been paid more…. What was particularly alarming to Ms. Karniol-Tambour, said people briefed on her situation, is that she made less than several men in largely operational roles at Bridgewater. At most hedge funds, investment professionals can earn considerably more than those who perform back-office tasks or liaise with clients.
Like the Murray matter, Karniol-Tambour’s situation remains unresolved, which is, quite frankly, strange, given this bit of unimpeachable radical truth.
“As of our annual audit in December 2019, we can confirm there are no outstanding discrepancies in how men and women are paid at Bridgewater,” the spokesman said.