Using representative data containing information on job satisfaction and workers’ gender‐specific prejudices, we investigate the relationship between stereotyping and job satisfaction. We show that women in stereotypically male jobs are significantly less satisfied with their work climate and job content than in stereotypically female jobs but more satisfied with their income in those same jobs. Our findings indicate that women trade off their higher income satisfaction against the negative consequences of stereotyping. As long as we take into account that stereotypically male jobs are physically more demanding than stereotypically female jobs, men are generally more satisfied with stereotypically male jobs.