The Labour Relations Commission has put forward proposals aimed at resolving a dispute over cost-cutting at Irish Rail.
Under the plan, employees earning less than €56,000 a year would have a pay cut of 1.7%, and those on more than €100,000 would face a 6.1% cut.
Increments would continue and pension payments would be maintained at their current rates.
The National Bus and Rail workers Union is preparing to ballot its members on the plan.
"No trade union … would recommend pay cuts to its members," said Dermot O'Leary, General Secretary of the union.
"But we are prepared to accept that the process we were involved in at the LRC - these were the least impactful measures that could be negotiated,"
"We commence balloting at the start of next week, and we'd expect to have a result within two weeks."