Anonymous wrote:Enjoy your time at capital one

Not true. They have unlimited sick time for exempts. Vacation isn't unlimited but they don't track it well. They do very very smart things and very very stupid things. This is one of the stupid things. 3 years ago they realized major areas weren't even following GAAP, for example.

Mitsubishi does this - which is odd because they are a massive stodgy industrial/banking conglomerate. Very unlike that industry.

I don't know what it 'really' means there though.

PP, do you have first hand knowledge about what it means at uber?

Anonymous wrote:Enjoy your time at capital one

Offers don't state this. Technically people have 3 weeks.

Uber says this FYI, so does living social. In both cases it's code for "never take a day"

Living social does this. So stupid.

My company switched to this about two years ago. There are still "Do Not Exceed" guidelines in place that mirror the old PTO policy, but it isn't tracked.

In reality, we haven't had any issues although there was an initial adjustment period when some of the slackers took advantage of it. I can't think of a request that wasn't approved.

That said, it's totally a scam that benefits the company. I was and still am really pissed about the change.

Thanks everyone. Looks like it varies depending on the company.

I had it at my old job (music industry). No work agreement. I'd ask for the time, and I got it. Always paid.

DH technically has unlimited paid time off as a partner at his firm. He has no actual vacation or leave and can take time off whenever he wants in theory. In reality, he has taken four days of vacation in the last three years. The three days after I gave birth and the day he had a colonoscopy.

My company has this. I take around 4 weeks a year and then a few days here and there. It has been great. I could take more, but my work load doesn't permit it.

Enjoy your time at capital one

It's primarily an accounting scam; it means that you do not accrue vacation hours that can be paid out on termination. Vacation counts as a debt on company books because it has to be paid out if someone leaves. If a company has a few thousand employees that is a huge difference in the bottom line.

The additional bonus is that people tend to not take as much vacation when they don't have an account balance to stare at or "use it or lose it" hours. But if you are doing your job I haven't heard of vacation being rejected. They just need to make sure that all three members of a team don't go on a month vacation at the same time, etc.

Anonymous wrote:I worked at a firm like this for several years. It meant that I could take six or seven weeks a year as long as I made my hours.

Same. Worked great for me.

I worked at a company like this. People took maybe a week off a year.

I worked at a firm like this for several years. It meant that I could take six or seven weeks a year as long as I made my hours.

Ive just got an offer which states there is unlimited paid time off subject to performance and supervisor approval.

Is this just corporate speak for no time off at all?

Any of you have this at your firms and what does it mean in reality?