This study investigates the effect of the stimulus format (text‐ vs. VR‐based) of a situational judgment test (SJT) on test performance, while also investigating the mediating role of test motivation and the moderating role of test‐takers' age. Results of a two‐condition (SJT stimulus format: text‐ vs. VR‐based) within‐subjects design among 121 participants showed no differences in test motivation between a VR‐ and a text‐based format. Further, results showed slightly higher SJT scores for the text‐based stimulus format than the VR‐based format, particularly for middle‐aged and older test‐takers. Finally, test motivation did not mediate the relationship between stimulus format and test performance. While existing knowledge is limited, this study provides little reason for concern regarding the differential effects of VR‐ versus text‐based stimuli on motivation and performance across age groups, paving the way for further research on technological innovations in SJTs.