GMB, Unite and Siptu confirmed their members “decisively voted to reject” the proposal, calling it “inadequate”.
The offer tabled by Translink management was a 5 per cent increase plus a one-off payment of £1,500 for the 2023/24 financial year.
In February, transport workers’ unions suspended planned strike to give Translink time to make a pay offer.
The unions said in a joint statement a 70 per cent majority of bus and rail members rejected Translink’s offer and unions will now enter fresh talks with management.
The unions said discussions will also be held on the “next steps” during a period of “mounting recruitment and retention difficulties”.
A Translink spokesperson said: “We are currently awaiting the outcome of the ballots of all grades across the organisation.
“At that stage we will engage with our trade unions on the next steps,” they added.
The British government is expected to release a £3.3 billion package now that power sharing has been restored at Stormont, about £580m of which is to settle public-sector pay claims.
On January 18, 16 trade unions and tens of thousands of public sector workers took part in one of the North of Ireland’s largest strikes, affecting transport and health.