Abstract Objective Among the many challenges faced by individuals experiencing their first episode of psychosis (FEP), commencement of public, self-, and structural stigma regarding their symptoms contributes to internalized shame, social exclusion, and discrimination. Individuals with FEP may experience rejection from friends, family, and community members due to misconceptions and fear surrounding mental illness, which can worsen mental health outcomes and hinder recovery. The aim of this study was to evaluate the extent of self-reported stigma and predictors in adults with a first episode of psychosis. Method We measured IQ, stigma, social and occupational functioning, race, sex, and symptoms of psychosis in a sample of 77 individuals with FEP (29% female, mean age 31.8 years). Results Multiple regression analysis indicated that psychotic symptoms delusions were significant predictors of stigma in the model, while race, IQ, sex, and functioning were not significant predictors. The model was statistically significant for symptoms of delusions (p < 0.05). Conclusions Initial findings indicate increased stigma is predicted by increased severity of delusional symptoms among individuals experiencing their first episode of psychosis. Surprisingly, other factors associated with stigma in more chronic illness were not significant predictors in the regression model. It may be that early in the course of psychotic illness, symptoms differentially contribute individuals’ perceptions of stigma by others. While these results offer preliminary insight, further research is necessary to explore additional factors uniquely associated with stigma in FEP, including contributors to internalized, public, and structural stigma, as well as interventions for decreasing negative impacts of stigma.