In fact, to call it unlimited and not have a minimum is probably always a scam - its so easy to post a minimum, to not do so must be deliberate.
Of course, I am sure a lot of this has to do with management culture /values. Another colleague in a different department is being discouraged from taking FMLA (which is borderline illegal). However, he feels stuck as the company is doing his Green card application and has him by the balls.
All that to say, I took my FMLA and handed in my notice as soon as I returned.
Unlimited PTO doesn't lead to work-balance nightmares; it's the result of management discouraging employees from taking breaks.
Absolutely. I've seen multiple startups with this ridiculous policy. The net effect of it is that people hardly ever take any time off, and certainly less than employees with more sensible policies, since taking any time off directly reflects on your moral character.
These issues around having vacation days "approved" seems like a function of your bosses, not your PTO plan. If you have to get your time approved, it doesn't matter the size of the bucket you're pulling from.
My experience is much more "hey I've got a couple weeks off coming up, by the way, I'm thinking of [x, y, z] for making sure everyone's up to speed while i'm out" and no pushback.
At a lot of places that have unlimited vacation, I'd bet that people take less vacation overall, and part of that is the status quo/what is currently acceptable.
I think this policy really depends on the culture where you work.
Plenty of companies do a great job with it and have no questions asked up to a certain amount or minimum time off to encourage usage.
I can second this. But it's not just the money though. One big thing for me is lack of actual vacation/sick time accrual in favor of this "unlimited PTO" nonsense. It leads to a culture where no one ever feels comfortable taking vacation or sick time (the obvious goal of the policy), and work life balance is a nightmare as a result.