The Public Service Commission says its pay offers to school teachers are worth $864 million over four years.
The commission said the figure included $449.057m for primary teachers, $361.833m for secondary teachers and $53.243m for area school teachers.
The four-year value of the offers to primary and secondary teachers was 75% higher than those made in July, but it was yet to make offers to primary or secondary principals.
Last week, commissioner Sir Brian Roche wrote to primary school boards, telling them the offer to primary teachers was as high as it could go.
"To achieve this, we stretched our fiscal mandate to its limits - meaning we have no room left to move further on pay."
NZ Educational Institute Te Riu Roa president Ripeka Lessels said the sums involved with offers and settlements would look large because there were tens of thousands of teachers.
"The number that matters in a cost-of-living crisis is pay that at least matches inflation and, along with the support to do the job well, is sufficient to attract new people into the profession to help meet the 750-teacher shortfall we have in primary right now," she said.
Lessels said primary teachers had rejected the offer, which was from 1.43% to 2.52% pay increase in the first year, and between 1.3% and 2.1% in the second year.
She said primary teachers had yet to receive a new offer, but were asked to negotiate within an envelope of 1%.
PPTA president Chris Abercrombie said union members had been polled on what industrial action they might be willing to take in the fourth school term, but a ballot would be required to approve any action.
The union hoped a settlement could be reached before then, he said.
