The offer by the Association of Colleges, which it said was final, matches that for schoolteachers.
The National Joint Forum also agreed to lobby the Government on additional funding for the sector and to have talks on a long-term pay structure. The AoC agreed to work with the unions to bridge the gap between teachers and lecturers' pay by 2004.
The Association for College Management and the Association of Teachers and Lecturers accepted the offer, and support staff unions will recommend acceptance.
But NATFHE said it would recommend rejection as there was no catch-up element. Further industrial action is planned for the beginning of October.