This study investigated occupational stress in managers in Hong Kong and Taiwan using the Occupational Stress Indicator‐2 (OSI‐2). The results showed the reliabilities and predictive validity of the OSI‐2 subscales were reasonably high in both samples. The logical relationships between job satisfaction, mental and physical well‐being found in the two samples have provided support to findings obtained in Western countries. Moreover, the direct impacts of coping strategies, Type A behaviour and locus of control on job strains also corroborated previous studies in Western societies. Further, there were gender differences in managerial stress in Hong Kong: female managers scored higher in sources of stress and quitting intention; but had lower job satisfaction, worse mental and physical well‐being than male managers. These differences could not be found in Taiwanese managers, yet Taiwanese female managers did report more stress related to the “managerial role” than their male counterparts.