I've been thinking about all those stories you hear about women who are coerced into having sex with their bosses under threat of termination. I have sympathized with those women in the past, because it seems like it was a inescapable position for them. After all, your job is forever, right?
Then I entered the real world, having left the world of college and stupid entertainment and got a job of my own. I realized that there a larger issues at work in such a claim and while the boss in such a scenario is a dick, it doesn't make the woman seem any more virtuous.
Ladies, I'm going to be straight and honest with you: if your boss says you have to have sex with him to keep your job and you consent based on that arrangement, you are a whore. That is, by its very definition, what a prostitute is. So if you agree to his demands, you are prostituting yourself and that speak volumes of what kind of woman you truly. And it isn't a pretty picture.
Now, you may ask what the alternative is, given that losing your job is a very undesirable outcome of that situation. The problem is that it isn't your job to begin with. The job you do belongs to the employer you work for, not you. So unless you are self-employed or own the company, it's not your job. But that's all just semantics. In actuality, you are always free to leave and if you find yourself in that situation, then you should leave.
First of all, you should leave because working for a person who is going to treat you like a whore is not someone you want to work with. While you will probably have to put up with a lot of jerks and bitches in the workplace, you don't have to put with a person who treats you as something less than human. Even if you refuse his sexual advances and you keep your job, I suggest you quit anyway. In your resignation letter indicate why you left. I would, however, not bother to press charges against anyone. A tainted reputation speaks volumes, especially when you mass e-mail your resignation letter to everyone in the workplace.
Secondly, it asserts your sovereignty as an individual and establishes your freedom. An English professor I had in college once told me that if someone holds a gun to your head and tells you to do something, then you are truly free if you are willing to do the opposite and accept the consequences. In essence, you are free to reject his sexual advances regardless of what other factors are involved. And believe me, your individual sovereignty is well worth whatever the consequences are. Especially when your life isn't on the line.
Of course, if you like being a whore, then by all means, accept his proposal. I'm not really all that concerned with your behavior so long as you aren't harming me in some fashion.