Emergence of new professions and novel approaches to work contribute to newer causes of occupational stress. The current study focuses on one such emergent group namely, the software development professionals. An attempt has been made to examine the role of self-efficacy, collective efficacy and perception of control in the study of occupational stress. The data was collected from 156 software development professionals in India. Variables such as self-efficacy, collective efficacy and perception of control using multiple moderated regression revealed that these variables moderate the negative consequences of stress with respect to work exhaustion, organizational commitment and intent to turnover but not with respect to job satisfaction. The results indicate that self-efficacy and collective efficacy have to be strengthened in order to mitigate the negative consequences of stress. The knowledge pertaining to causes of stress can empower individuals and organizations to plan effective stress management interventions.