It's her second time down Oscar's road. She was nominated for best actress in 1999 for "Tumbleweeds."
From experience, she knows this really isn't about winning.
"I don't consider acting to be a competition. And I think to be singled out, to be in the best category, that's enough," McTeer said. "Anything else really is a cherry on a cake, and it's just such a pleasure to hang out with all these fabulous people."
McTeer said while she hates having her picture taken on the red carpet, she enjoys seeing everyone out there.
"The rest of it, where you bump into everybody, and you say hello to people and you look at all these wonderful glorious people wearing all these glorious frocks, I love that bit," McTeer said.
McTeer has stayed busy since filming "Albert Nobbs." She currently co-stars with Daniel Radcliffe in "The Woman in Black" and will be seen in season five of the cable series "Damages."