This paper examines the reworking of gender in the measured university and the impact this has on gender equality in academia. Neoliberal market rationalities and measurements embedded in academic publishing, funding and promotion have transformed Australian higher education and impacts upon the careers of academic women in ways that are gendered. Based on a series of in-depth qualitative interviews with female academics, this paper focuses on the performative and discursive decisions women make in regards to their academic careers, and argues that the mainstreaming of gender equity in Australian universities seeks to render gender inequality invisible. It employs "cruel optimism" to highlight how our optimistic attachment to gender equity and diversity policies as tools for improving the representation of women may be detrimental to academic women's career progression and the realisation of gender equality in academia.