The Government have given teachers a new offer, in an attempt to put an end to a string of strikes that has seen tens of thousands of teachers walk off the job.
Under the terms of the new deal most teachers would get a $12,000 salary rise, if the deal is ratified.
The Post Primary Teachers' Association released a statement saying it included a lump sum payment of $1500 for union members only and a new top salary step of $90,000.
All secondary teachers would receive an annual pay increase of three per cent.
Education Minister Chris Hipkins said the unions had recommended the new offer to their members.
Mr Hipkins said the one-off pay injection would help restore pay parity between primary and secondary teachers.
"It's always been the Government’s objective to restore pay parity, between primary and secondary teachers over the long term.
"It made sense to bring that forward and get it sorted once and for all."
Area schools are also now included in the offer..
Mr Hipkins said the funding for the new offer would be offset by lower spending in other areas of education.
"The cost of the offers has increased by $271 million to cover this new ground."
The new offer now also includes enhanced Māori immersion allowances, changes to parental leave provisions to be gender neutral and a $5m per year professional development fund.
"All sides were pragmatic in working out a revised deal that takes a longer term view that's in the best interest of teachers, students and their families."
PPTA president Jack Boyle said "sometimes a circuit breaker is what’s needed to progress an issue, and in this case, it certainly did the trick".
"We are very pleased to have an offer to take to our members to consider, after months of negotiations."
National's education spokesperson Nikki Kaye welcomed the new offer, calling it a "significant improvement".
"The Government has been weak and incompetent at every level in the way it has handled what have been long, drawn out, negotiations.
"These negotiations have gone on for more than a year for some teachers, with multiple days of strikes, including the mega strike the day before the Botched Budget. These delays have cost teachers and parents and have been hugely frustrating for everyone."
"We are optimistic there will be ratification but we respect the important right of teachers to make the final decision on this offer."
Mr Hipkins began more negotiations with teachers' unions NZEI and PPTA last week, holding about 10 hours worth of negotiations in an attempt to break the impasse.
Last week, Prime Minister Jacinda Ardern said the meetings would provide teachers with an opportunity to "reflect" on long term "issues raised by the education system".
"Whilst we continue to maintain that $1.2 billion is a significant offer, a number of issues that have been raised by the education system are long term issues."
Speaking to media Ms Ardern said: "The under-investment in education as a whole and some of the demands for teachers, this is not just about pay".
"Whilst we continue to maintain that $1.2 billion is a significant offer, a number of issues that have been raised by the education system are long term issues. This gives us an opportunity to reflect on some of those."
Discussions between primary teachers and the Ministry of Education over revised pay, workload and support began in May last year amid claims of a crisis in education, fuelled by a shortage of teachers.
Last month, union leaders for primary and secondary teachers said further industrial action was possible if an agreement could not be reached with the Government after the mega-strike that saw an estimated 50,000 teachers take strike action.