Meryl Streep turned down 'The Devil Wears Prada' to try to double her salary. It taught her a lesson about negotiating. [Business Insider]
Meryl Streep turned down 'The Devil Wears Prada' to try to double her salary. It taught her a lesson about negotiating.
The Call That Almost Didn’t Happen
It’s one of the most iconic performances in modern cinema. Miranda Priestly, the frosty, razor-tongued editor of Runway magazine, remains a cultural touchstone. But here’s the twist you probably didn’t know: Meryl Streep almost wasn’t in the movie at all. Not because the studio didn’t want her. Not because she was too busy. But because she tried to double her salary—and the studio said no.
Let’s rewind to 2005. The script for “The Devil Wears Prada” was making the rounds, and everyone knew it had the potential to be a monster hit. The role of Miranda Priestly was the crown jewel. The studio’s first choice? Streep, obviously. She had three Oscars by then and a reputation for disappearing into roles so completely that you forgot you were watching a movie star. They offered her a deal: a $10 million paycheck to play the devil in Prada.
For most actors, that’s a “thank you, where do I sign?” moment. For Streep, it was a negotiation. She wanted more. Reports at the time suggested she asked for $20 million, effectively doubling the offer. The studio balked. They said no. And for a brief, tense moment, Streep walked away.
The Lesson in Walking Away
This is where the story gets fascinating. Streep didn’t just say no. She stepped back from the table entirely. She told her team she was in, then she wasn’t. And in that moment, she learned something that she’s been open about in interviews over the years: There’s a difference between asking for what you’re worth and pricing yourself out of the room.
“I had a bad feeling about asking for that much money,” Streep admitted in a 2014 interview with 60 Minutes. “I thought, ‘This is going to kill the deal.’ And it did. For a while.” She recalled feeling a weird sense of relief when the studio turned her down. But then something strange happened. The studio realized they had no backup plan. They’d already cast Anne Hathaway as Andy Sachs, and the chemistry between the two leads was a known quantity. Without Streep, the movie might just be a rom-com about a mean boss. With her, it could be something more—a dark, nuanced look at power and ambition.
So the studio came back. They offered a compromise: a smaller upfront fee—around $10 million—but a bigger slice of the back end. A cut of the box office gross. Streep took the deal. And then “The Devil Wears Prada” opened at number one, grossing over $326 million worldwide against a $35 million budget. By the time the dust settled, Streep’s paycheck was reportedly closer to $18 million, thanks to those backend points. She didn’t double her salary upfront, but she came pretty close in the end.
What Streep Learned About Power at the Table
Here’s the real takeaway, and it’s one that applies to any working person, not just Hollywood royalty. Negotiation isn’t just about asking for a number. It’s about understanding leverage, timing, and the value of walking away. Streep later reflected that the experience taught her that “you can’t be afraid to lose the thing.” That fear—the fear of losing a job, a deal, a relationship—is what keeps people from asking for more. But if you’re willing to walk, you change the dynamic.
But it’s also a cautionary tale. Streep’s original demand nearly tanked the entire project. She admitted that her initial ask was “arrogant” and “probably not smart.” The lesson isn’t “always double your salary.” It’s “know the room.” In Streep’s case, she had the leverage—she was irreplaceable. But even she nearly overplayed her hand. The studio had a budget. They had a timeline. And they had other actors who could have done a decent job (though, let’s be honest, not a great one).
What made the difference? Streep’s willingness to compromise. She didn’t storm off forever. She stepped back, recalibrated, and found a creative solution that worked for everyone. That’s the mark of a real negotiator: knowing when to push and when to pivot.
The Bigger Picture: Why This Story Matters Now
In an era where pay equity and transparency are finally getting the attention they deserve, Streep’s story is a reminder that negotiation is a skill, not a personality trait. Women, in particular, are often socialized to avoid asking for more money. Studies consistently show that women negotiate salary less often than men, and when they do, they’re often penalized for it. Streep’s high-profile stand—and her willingness to share her mistake—offers a blueprint. Ask. But ask smart.
She also proved that “no” isn’t the end. It’s a pause. When the studio said no to her $20 million demand, she didn’t burn bridges. She stayed professional. She let the studio know she was still interested. And when they came back with a counteroffer that included backend points, she jumped. That flexibility is rare. Most people, when rejected, take it personally. Streep took it as a sign to get creative.
The Legacy of One ‘No’
Today, “The Devil Wears Prada” is a beloved classic. Streep’s portrayal of Miranda Priestly earned her an Oscar nomination and cemented her status as the queen of the screen. And the negotiation? It became part of Hollywood lore. It’s a story that actors, agents, and businesspeople still tell in conference rooms and at dinner parties. It’s a masterclass in the art of the deal.
So the next time you’re sitting across a table, about to ask for a raise, a promotion, or a better contract, remember Meryl Streep. She almost lost the role of a lifetime because she got greedy. But she also learned that sometimes the best way to get what you want is to walk away, take a breath, and let the other side come to you. That’s not just good negotiating. That’s art.
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Ahmed Abed – News journalist