Hormones of the pituitary-adrenocortical axis (e.g., cortisol) are involved in the regulation of brain function. This study was aimed to clarify whether individual differences in baselines of cortisol are related to differences in heart rate (HR), slow brain potential shifts (SPS), performance data and personality. 17 males were instructed to solve 120 arithmetical tasks under time stress conditions. They could obtain monetary bonuses according to the accuracy of their task performance. This test condition was compared to a control condition. To determine the plasma level of cortisol by radioimmunoassays four blood samples were collected during the session. Baselines were estimated twice. A clustering procedure with respect to all cortisol levels resulted in a group of high responders (HC, n = 9) and a group of low responders (LC, n = 8). The HR was significantly higher in the HC group. The SPS of the LC group were characterized by a larger P300 elicited by the task followed by a steep negative slow wave (NSW) as compared to the HC group. LC subjects also showed a higher NSW before feedback presentation. The LC group solved the tasks faster and obtained more than twice the reward than the other group. They scored higher in achievement motivation and also reported increased 'Social Acceptance' and decreased 'Tiredness'. In sum, the results suggest a more efficient regulation of the arousal level of the LC group in contrast to the HC group as far as reflected in the parameters analysed.