We examine whether the psychological consequences of perceived workplace discrimination differ between women and men. We argue that the types of experiences that women vs. men view as discriminatory are different; while the majority of women’s perceptions of discrimination in the workplace emerge from experiences that appear to align with patriarchal norms, the majority of men’s perceptions of discrimination emerge from experiences that appear to reflect institutions’ efforts to reduce discrimination against women. These differences in types of perceived discriminatory experiences give rise to divergent psychological consequences. We argue that the experience of workplace gender discrimination 1) reduces self- efficacy among women but not among men and 2) reduces the sense of belonging for both women and men. We further argue that these effects contribute to a reduction of well-being among members of both genders, with the negative effect on well-being being more pronounced among women than among men. We examine these predictions in two surveys of working adults. We discuss implications for research on the experience of discrimination and for organizations seeking to reduce the negative consequences of perceptions of discrimination.