We consider the existence, stability and dynamics of the nodeless state and fundamental nonlinear excitations, such as vortices, for a quasi-two-dimensional polariton condensate in the presence of pumping and nonlinear damping. We find a series of interesting features that can be directly contrasted to the case of the typically energy-conserving ultracold alkali-atom Bose–Einstein condensates (BECs). For sizeable parameter ranges, in line with earlier findings, the nodeless state becomes unstable towards the formation of stable nonlinear single or multi-vortex excitations. The potential instability of the single vortex is also examined and is found to possess similar characteristics to those of the nodeless cloud. We also report that, contrary to what is known, e.g., for the atomic BEC case, stable stationary gray ring solitons (that can be thought of as radial forms of Nozaki–Bekki holes) can be found for polariton condensates in suitable parametric regimes. In other regimes, however, these may also suffer symmetry-breaking instabilities. The dynamical, pattern-forming implications of the above instabilities are explored through direct numerical simulations and, in turn, give rise to waveforms with triangular or quadrupolar symmetry.