re: Is unlimited PTO actually a bad deal?

LL I think most people in your scenario (which is similar to mine) probably appreciate the ability to take as many 3-4 day weekend trips as they realistically want, but we probably take fewer 7-10 day absences. Or at least it seems that way to me.

It's max flexibility, but takes more coordination/planning for traditional vacations, perhaps.

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FWIW, I had unlimited at my previous employer, and I accrue 6 hours per pay period with my current employer. I take PTO much more regularly now than when I did with unlimited PTO.

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At one company I worked at for 14 years, I was at 12 hours accrued per pay period. That was great. Unlimited can never compare to that.

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then there is no balance to payout when you leave

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This is a huge driver behind the policy

The company I work for went to it, and most people take less because of deadlines. It takes a liability off the books for the company, and prevents you from banking whatever the maximum would be, which could be nice if you wanted an extended vacation or got laid off, in which case they would have to cash it out.

It's presented as a benefit, but it really benefits the company more than the employee in the long run.

If your company goes to it, I would recommend noting what you would be due prior to unlimited PTO and forcing yourself to take that much, regardless.

It's really going to depend on the company and their culture. I currently work for a company that does unlimited PTO and I really enjoy it. I like being able to take a day off whenever I need a break or what have you and not have to worry about how many days I have left and then take weeks off for vacation or holidays ect...

I end up taking more time off now then I did when I had allocated amount of time that I could take off but it's also because my company doesn't guilt you when you actually take off.

I work for an engineering consulting firm that charges by the hour for our services. If we are not billable then we have to use PTO to stay employed. You can save a decent amount of PTO and take time off so having a specified amount of PTO is benefit in my case. Also like others have said they pay you out when you leave.

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Plus my wife doesn't get nearly as much as I do.

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Even more of a reason to use them

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I get 30 days per year and have difficulty taking that much time off most years.

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This is a similar boat I am in. I get 25 days, and am lucky to use 15 of them. Because of my position, even when I am on vacation I will inevitably have to get some work done (and not just reviewing e-mails). For every week I am out, I will put in a few hours at least 2-3 days that week. Flip side is, since I worked those days it doesn't count against my PTO and I get to continue rolling those days over.

I actually approached the owner about giving my unlimited PTO because even when I am off, I still need to work. This will keep the "debt" off the books, but in exchange he has to cash out my current PTO balance and give me a 12.5% raise (every week is 1.9% * 5 weeks = 9.6%). Still waiting on his answer, but in the meantime I keep accruing

Really depends on the job, circumstances, and office culture.

As an engineering manager who works on projects with schedules I can anticipate and see when I will have slow periods in my work. I'll throw in random days off in those slow periods where no one will notice I'm missing just to go golfing or mountain biking for the day. Throwing in a random mental health day when it's beautiful out can burn 8-10 vacation days a year outside of the summer or holiday breaks and does wonders for the mental batteries. But I can see other types of jobs more tied to production v. project work that type of scheduling might not be as favorable. I've been with my company for 23 years and had 5 weeks of vacation before they changed to unlimited so I had already been doing that a while just to use up my 5 weeks a year.

Yes and no..

Like others stated you tend to take less time off unless you decide f it I’m using my vacation.

I had it at the last job, rarely worked past noon on Friday, meetings ended early - rolled out at 4, started day at 8/830. Took week off at basically every major holiday.

You don’t get paid out for accrued vacation, so instead be sure there is a 2-3 month guaranteed severance if possible.