AC Transit and its largest union will make their cases before a state-appointed panel.
The panel will also look at the impact a strike would have on the community.
AC Transit threatened a strike last Thursday, but Gov. Jerry Brown stepped in to temporarily avert a strike by ordering the review.
By law, AC Transit workers are barred from striking during the seven-day period.
Brown said in a letter to AC Transit management and the union that he appointed the board because a potential AC Transit strike "threatens to disrupt public transportation services and endanger the public's health, safety or welfare."
AC Transit logs about 200,000 bus rides daily in its service areas in Alameda and Contra Costa counties.
The bus agency's management says it is offering its employees a 9.5 percent pay hike over three years.
(Bay City News contributed to this report)