Research has shown that perceived group status positively predicts competence stereotypes but does not positively predict warmth stereotypes. The present study identified circumstances in which group status positively predicts both warmth and competence judgments. Students (N = 86) rated one of two groups (psychologists vs. engineers) presented as either being low or high in social status on warmth and competence. Results showed that status positively predicted competence stereotypes for both groups, but warmth stereotypes only for psychologists, for whom warmth traits are perceived to be functional in goal achievement. Moreover, for psychologists perceived warmth mediated the relationship between status and perceived competence. Results are discussed in terms of the contextual malleability of the relationship between perceived status, warmth, and competence.