Primary school principals are set to vote on a new pay offer this week, which includes a total pay increase of more than 10 per cent over two years.

The offer also includes a new allowance that recognises the importance of cultural leadership, improved recognition of the importance of leading the learning of literacy and numeracy, and better valuing of specialist school leaders.

If principals vote to accept the offer, they will receive a pay increase of six per cent from July 3 this year as well as two pay increases in 2024 of three per cent and 1.8 per cent.

The vote closes on Thursday, June 29.

This offer comes two weeks after a survey of hundreds of primary school principals which showed that almost a third want to leave the job within the next two years.

The exodus could soon reach crisis levels, as 10% of those surveyed signalled they might quit in the next 12 months.

No participants in the survey – 629 principals – reported feeling 'well-supported” in their jobs. Nor did any of them feel the demands of the job were 'manageable”.

Some principals were paid less than teachers or deputy principals at their schools, the survey revealed.

Kyle Brewerton, Remuera Intermediate School principal and head of the Auckland Primary Principals' Association, previously told Stuff that principals are in the 'perfect storm”.

'You've got first time principals trying to do everything. It is not sustainable,” he said.

'There's just not the bandwidth to get the work done.”

On June 7, primary school teachers voted to accept the fourth Ministry of Education collective agreement offer after a long campaign that included the largest education strike in New Zealand's history.

Kindergarten teachers have also settled with the Ministry of Education, while secondary school teachers are still holding out for more.

-Gabrielle McCulloch/Stuff.