Meryl Streep Was Ready to Retire Before The Devil Wears Prada—Then She Negotiated Like a Boss
When Hollywood came calling with the role that would become one of cinema's most iconic characters, Meryl Streep didn't leap at the opportunity. She almost turned it down entirely. The three-time Oscar winner, whose estimated net worth sits around $100 million, has opened up about the salary negotiation that changed everything—and the powerful mindset that made it possible.
In a candid interview with Today, Streep revealed that when she was first offered the role of Miranda Priestly in the 2006 blockbuster The Devil Wears Prada, the studio's initial offer simply wasn't good enough. Her response? A masterclass in leverage, self-awareness, and knowing exactly what you're worth.
The Offer She Almost Refused
By the time The Devil Wears Prada came around, Meryl Streep was already in her mid-fifties, had two Academy Awards on her shelf, and had built a career most actors could only dream of. She was, by her own admission, ready to walk away from Hollywood for good. That sense of freedom—that she genuinely had nothing to lose—turned out to be her greatest negotiating asset.
"They called me up, and they made an offer, and I said, 'No, not going to do it,'" Streep recalled. Her refusal wasn't born from indifference to the project. In fact, it was the opposite. After reading the script, she was confident the film was going to be a hit. She simply felt the initial offer didn't reflect that reality—or her value to it.
So she made a bold counteroffer: double the original salary, or no deal.
"I knew it was going to be a hit, and I wanted to see if I doubled my ask," she said. "And they went right away and said, 'Sure.' And I thought, 'I'm 50, 60—it took me this long to understand that I could do that.'"
What Made the Negotiation Work
Streep's story isn't just a celebrity anecdote—it's a blueprint for effective negotiation in any industry. Several key factors aligned in her favor, and understanding them helps explain why she succeeded where others might have hesitated.
She Knew the Project's Value
Streep didn't just trust her gut—she read the script carefully and assessed the material on its merits. Recognizing a hit before it's made is a rare skill, and she used that knowledge as leverage. When you understand the value of what you're being asked to contribute to, you're in a far stronger position to negotiate fairly.
She Had a Genuine Alternative
One of the most powerful things Streep had going for her was that she was truly prepared to walk away. "I felt I was ready to retire," she said plainly. That wasn't a bluff—it was a genuine psychological position of freedom. In any negotiation, the party most willing to walk away holds the most power. Streep held all of it.
She Understood She Was Irreplaceable
"They needed me," Streep said simply. And she was right. The role of Miranda Priestly—a cold, calculating, deeply intelligent fashion editor widely believed to be inspired by Vogue's Anna Wintour—required a very specific kind of gravitas. Streep's presence wasn't just desirable; it was essential to the film's credibility. Recognizing your own unique value in a given situation is half the battle in any negotiation.
The Lesson She Took Away
Perhaps the most striking part of Streep's revelation isn't the negotiation itself—it's her reflection on how long it took her to reach that point. "It took me this long to understand that I could do that," she said, referring to being in her fifties. For a woman who had already won two Oscars and was one of the most respected actresses in Hollywood, it's a surprisingly humble admission. And a deeply relatable one.
Many professionals—especially women—spend decades undervaluing themselves in the workplace, accepting the first offer made to them, or hesitating to advocate for fair compensation out of fear of seeming difficult or ungrateful. Streep's story reframes that dynamic entirely. Asking for what you deserve isn't arrogance. It's awareness.
The Proof Was in the Box Office
The Devil Wears Prada went on to gross over $326 million worldwide, earned Streep her 14th Oscar nomination, and cemented Miranda Priestly as one of the most memorable characters in modern film history. The icy, whispering, impossibly demanding editor became a cultural touchstone—quoted, parodied, and referenced endlessly in the years that followed.
The film's much-anticipated sequel, The Devil Wears Prada 2, has already surpassed those numbers dramatically, grossing over $660 million and still climbing at the time of writing. Far from being a one-off hit, the franchise Streep almost walked away from has become one of the most beloved and enduring in contemporary Hollywood.
What Every Professional Can Learn From Meryl Streep
You don't have to be a three-time Oscar winner to apply Streep's negotiating wisdom to your own career. The principles she demonstrated are universal and worth internalizing at any stage of your professional life.
- Do your research. Understand the value of the role, project, or position you're being offered. Knowledge is leverage.
- Know your walkaway point. Before entering any negotiation, be clear on the minimum you'll accept—and be genuinely prepared to decline if it's not met.
- Don't accept the first offer as final. Initial offers are often starting points, not ceilings. Asking for more is rarely as risky as it feels.
- Recognize what you uniquely bring to the table. Streep knew the studio needed her specifically. What do you offer that others cannot easily replicate?
- Confidence comes with time—but don't wait too long. Streep was in her mid-fifties when she finally felt empowered to negotiate boldly. You don't have to wait that long.
A Lesson That Resonates Beyond Hollywood
Meryl Streep's salary negotiation story has captured attention far beyond entertainment circles because it speaks to something deeply universal: the gap between what we're worth and what we're willing to ask for. For decades, she—like so many people—accepted what was offered rather than pushing for what was deserved. Then, in her fifties, with nothing to lose and everything already earned, she finally did the thing she'd always been capable of doing.
The studio said yes immediately. No pushback. No drama. Just yes.
That instant agreement is perhaps the most telling part of the story. It suggests the ask wasn't outrageous at all. It was simply fair—and all it required was someone with the courage and clarity to make it.
In the end, Miranda Priestly may be a fictional character, but the woman who played her delivered a very real lesson in power: know your worth, name your price, and never be more afraid of walking away than the other side is of losing you.