High stakes examinations have been identified as a significant source of stress for secondary school students; however, there is little data accounting for, and explaining, the experiences of examination stress. This study aimed to further the understanding of examination stress in secondary school students by conducting interviews with 34 students in their final two years of compulsory schooling in England, following a programme of study towards their school leaving qualification, the General Certificate of Secondary Education. Findings suggested that the appraisal of examinations as stressful was idiosyncratic, differing from one student to another. Eight distinct but related elements of examination stress were identified, which included the anticipation of failure, poor competence beliefs and the extent to which academic credentials are valued. Examination stress was also gendered, both in its subject-specific nature and in the way the experience was described by students.