In every major occupational group and at every level of educational attainment, U.S. women earn less than men (Carnevale et al. 2018). Besides a component explained by objective factors (e.g., hours worked, occupation, experience), the gender wage gap includes a large component unexplained by objective factors. This latter component may be attributed, at least in part, to factors such as gender stereotyping and discrimination. In one study, we focus specifically on negotiation partners’ gender stereotypes by investigating mock face-to-face negotiations around salary and benefits mimicking real world job settings. We specifically investigated whether U.S. women’s (n = 83) negotiation performance was predicted by their negotiation counterparts’ implicit and explicit gender stereotypes and whether these effects depended on the gender of the negotiation counterpart and their randomly assigned power role in the negotiation (recruiter vs. candidate). Overall, our findings suggest that regardless of women’s power role in negotiations, women’s lower performance is predicted by their male counterparts’ higher implicit stereotypes. For female recruiters, this effect is further qualified by their male counterparts’ explicit stereotypes. Our discussion explores how temporary power roles contribute to the expression of implicit and explicit gender stereotypes in negotiations. We also discuss practice implications for reducing negative effects of stereotypes on women’s negotiation performance.