Performing music in front of others can be stressful, even for experienced performers. The physiological effects of stress, namely, increases in cortisol and sympathetic nervous system activity, have been shown to have detrimental effects on cognition, particularly working memory. This study used an audition-like performance scenario to elicit a stress response in performers who differed in their degree of musical experience. We expected that participants with more musical experience would be better able to regulate their stress response, would report lower levels of anxiety, insecurity, and nervousness, and would show better working memory following the stressor, compared to participants with less musical experience. Although we did not find differences between more and less experienced performers in their sympathetic nervous system activity or their self-reported feelings of anxiety and nervousness, we did find some important differences: following the stressor, more experienced performers were less insecure, they showed better regulation of their cortisol response, and they demonstrated better working memory.