In this paper, we argue that the concept of the psychological contract can be understood as a discourse that reflects dominant managerial ideologies regarding the nature of the employment relationship. Using qualitative case study data collected from employers and employees working in small businesses in the private care sector, we illustrate how participation in the discourse of the psychological contract is related to social category membership. For those occupying higher status roles, the discourse has resonance and appeal and participation can yield symbolic and material profit. Conversely, for other categories of employees, specifically those occupying lower status roles, the discourse of the psychological contract lacks resonance and meaning. We further illustrate that because this discourse corresponds with the ideology that employment relationships should be reciprocal and based upon social bonds, it enables employers to legitimise their exploitation of low-paid, low-status workers with the active (and passive) consent of the latter. We theorise this example of workplace domination by drawing on Bourdieu's ideas of symbolic power and symbolic violence.