A secret online ballot on the offer, the third from the Ministry, closed last night.
NZEI Te Riu Roa president Lynda Stuart said the message from members was that the offers still did not do enough to fix the crisis in teacher recruitment and retention.
"The big concern for members was that the offers had nothing that would give teachers more time to teach or principals time to lead.
"From the beginning of this process we've been clear that to attract and retain teachers we need to be paid fairly and have the time and support to ensure every child gets the best possible education.
"While the latest offer for teachers included a total salary increase of approximately $9,500 - $11,000 over three years, it failed to address the important issues of time and class size, which underpin the crisis in education," she said.
"Disappointingly, we end this year without the necessary movement from the Government, and with still not enough to meet the needs of children, schools and teachers."
NZEI has informed the Ministry and Minister of the outcome of the ballots, and will seek further negotiations immediately, requesting a new offer by early in Term 1 to bring back to members.
Responding to the news, Iona Holsted, Secretary for Education at the Ministry of Education, said NZEI had been invited to return to the bargaining table.
She noted that following facilitated bargaining last month, the Employment Relations Authority described the $698 million offer as ‘handsome and competitive’.
"The Authority also acknowledged the commitment of the Government to working with teachers to gradually address the sector’s needs. This includes the current activity on workload and supply," she said.
This activity includes a long-term workforce strategy that is in development, funding for learning support and $40 million to address next year's teacher shortage.
"We remain committed to continuing bargaining in good faith and minimising any further disruption for students’ learning and parents remains a priority. It is only by negotiation we will settle this long-running dispute."