Research documents how identity linked processes may have important health implications for people with marginalized or stigmatized identities. While previous work suggests that certain dimensions of identity may moderate the impact of minority stressors to wellbeing, work on identity centrality has yielded mixed findings about the directionality of the relationship between centrality and health. Given the importance of identity centrality on self-concept, this study highlights how differential exposure to minority stressors matters for identity construction. Drawing from 25 in-depth interviews on Black and Latino/a sexual minority adults, I examine perceptions of identity centrality and exposure to minority stressors. There are three key findings to highlight. First, results present evidence of intra-group variability in identity centrality. Second, results indicate that differential exposure to minority stress matters for perceptions of identity centrality. Finally, results note that differentiating between stigma and race related stressors is necessary to better understand experiences of minority stress.