This experiment examined the effect of experiences of success and failure on self‐esteem, measured by evaluative scales on the semantic differential. Self‐esteem was differentiated into two aspects, Myself Now (state self‐esteem) and Myself Usually (trait self‐esteem). The experiment had two parts. In Part 1, half the subjects were randomly assigned to a success experience and half to a failure experience. The prediction that those experiencing failure would score lower on state self‐esteem than those experiencing success was supported when tested on a sample of 98 college students. As expected, the groups did not differ on trait self‐esteem.Part 2 of the experiment was an examination of a further experience of success and failure on state and trait self‐esteem. Half of the subjects from each of the first success and failure treatments were randomly assigned to a success experience; the other half received a failure experience. Thus investigation could be made of possible cumulative or modifying effects of initial success or failure on later experiences. The most recent experience was found to have the stronger effect on state self‐esteem, with the initial experience showing little in the way of modifying or cumulative effects. Trait self‐esteem was a