The strikes will cause serious disruption to bus services in Loughborough and the East Midlands.
More than 50 drivers, from Kinchbus, will take 11 days of strike action between 13 November and 11 December, following a ballot that was 88% in favour of industrial action.
If the situation remains unresolved the trade union Unite have said an "all-out strike will begin on 13 December".
Sharon Graham, Unite general secretary, said: “Despite performing a critical and challenging role, our Kinchbus members are amongst the lowest paid bus drivers in the nation. Even if they accepted Kinchbus’ derisory pay offer, their hourly wage would still be less than £11 an hour.
“Kinchbus’ drivers are taking a stand against their low wages and Unite will be campaigning relentlessly in support of their fight for decent pay. Unite will defend our members’ jobs, pay and conditions to the hilt. Employers should know we are a fighting-back union.”
Kinchbus declined to comment when they were contacted by Fosse 107.
Scott Lennon, Unite regional officer said: “These strikes will seriously impact Kinchbus services in Loughborough and across the region and are not actions our members take lightly.
“They have been backed into a corner by Kinchbus, whose management bears full responsibility for the disruption that will be caused. There is still time to avoid strikes, but that requires Kinchbus to table an offer our members can accept.”