The RCN will meet on Saturday to decide whether to accept the offer or move towards a ballot for industrial action among its members in England.
Nurses and midwives had threatened to take industrial action over a decision to deliver their 2.5 per cent pay rise in two stages.
The revised package offered in August included an extra £400 a year for staff on grades one and two, usually hospital porters, and £38 for those on grades three and four.
Those on bands five to eight, including nurses, who are required to register to practise, would receive a £38 contribution to their professional fees.
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